Building Details

Building Size 26,700 SF

Year Built 1920

Listing Agency: Metro Commercial - PA

Listed By: Scott Benson Show Phone

Source: Metrocommercial

Added: Nov 21, 2025 Changed: Oct 6 Last Checked: Oct 5 at 5:09PM

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Investment Insights

Based on property information with market context.

This property presents a rare building opportunity situated at 1528 Chestnut Street, Philadelphia, PA 19102. The property, with a size of 26700 square feet, is positioned at the corner of 16th & Chestnut, an area noted for having the highest pedestrian counts in the city. Recent activity in the area includes deals with JD Sports and Wonder, reactivating the corner.

Key Highlights

• Rare building opportunity
• Located at 16th & Chestnut
• Highest pedestrian counts in the city

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$301,769

Cap Rate

3.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,035,380 $6.0M

Cap Rate 7%

$4,310,986 $4.3M

Cap Rate 9%

$3,352,989 $3.4M

Market Conditions

NOI Build-Up for 26,700 SF

Gross rent

$480.6K $18.00/SF

− Vacancy

−$49.5K −$1.85/SF

EGI

$431.1K $16.15/SF

− OpEx

−$129.3K −$4.84/SF

NOI

$301.8K $11.30/SF

Area

Philadelphia, PA

Vacancy

10.30%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,035,380

Cap Rate 7%

$4,310,986

Cap Rate 9%

$3,352,989

Alternative Uses

Best Use

Retail

$4.31M

$3.77M – $5.03M (±1% cap)

NOI $301,769 @ 7.0% cap · market cap 3.35%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$6.51M

$5.70M – $7.59M (±1% cap)

NOI $455,633 @ 7.0% cap · market cap 5.06%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Peak Performance Hormone ... Medical Clinic Portabella Clothing & Fashion Store

Suggested Use

Top Pick Tanning Salon (Bike/Boat/Book/etc) Store Clothing & Fashion Store Butcher Veterinary Clinic Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

26,467

Businesses Nearby

311k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 36% Hotels & Casinos 26% Apparel 22% Shops & Services 11%

The Ritz-Carlton, Philadelphia Hotels & Casinos

30,824 visits/mo 0.1 miles

Starbucks Dining

22,463 visits/mo 0.2 miles

UNIQLO Apparel

20,066 visits/mo 0.1 miles

The Logan Philadelphia, Curio Collection By Hilton Hotels & Casinos

19,294 visits/mo 0.5 miles

Starbucks Dining

16,511 visits/mo 0.3 miles

Demographics for 19102, PA

7,568

Population

4,606

Households

1.6

Avg Household Size

32

Median Age

87%

College-Educated

98%

High-School Grad

0.2 sq mi

ZIP Area

37,840

Density / Sq Mi

$114,844

Median Household Income

$79,552

Median Earnings

$2,249

Median Rent

$412,200

Median Home Value

Market

Vacancy Rate% for Retail in Philadelphia, PA

6.7% 2019

8.2% 2020

7.8% 2021

6.6% 2022

6.2% 2023

5.5% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - Rare building opportunity in high-traffic Philadelphia location.

Where is this storefront property located?

The property is located at 1528 Chestnut Street Philadelphia, PA.

What is the asking price?

The asking price for this property is $9,000,000.

What are key features of this property?

This property features: Rare building opportunity; Located at 16th & Chestnut; Highest pedestrian counts in the city