Renovated Mixed-Use
1627 E PASSYUNK AVENUE, Philadelphia, PA 19148
For Sale
$1,600,000
Restaurant and catering areas occupy two floors, with office and event space above and basement storage below.
Property Size4,960 SF
Price / SF$322.58
Days on Market235
Property Features for 1627 E PASSYUNK AVENUE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Additional Details
Asking Price
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Keller Williams Real Estate Tri-County
Listed By:
Vu Le · License #RS347215
(267) 528-8960
Source:
Wagnerrealestate
Added: Mar 20
Changed: Nov 8
Last Checked: Nov 8 at 2:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Real Estate Tri-County
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Investment Insights
Based on property information with market context.
This 4,960-square-foot mixed-use property, built in 1915, has been renovated and configured across multiple levels. Two floors contain restaurant, catering, and event areas; the third floor provides office and event space, while a full basement offers storage and operational space.
The property is on East Passyunk Avenue in Philadelphia’s Restaurant Row. A municipal parking lot is directly across the street, and the listing notes access to Center City and major highways.
The stated zoning flexibility supports commercial and office uses. The existing layout combines dining and event areas with upper-level office space and basement storage.
The property is on East Passyunk Avenue in Philadelphia’s Restaurant Row. A municipal parking lot is directly across the street, and the listing notes access to Center City and major highways.
The stated zoning flexibility supports commercial and office uses. The existing layout combines dining and event areas with upper-level office space and basement storage.
Key Highlights
- 4,960 SF mixed‑use property built in 1915
- Two floors configured for restaurant, catering, and event use
- Third‑floor office and event space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,870
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,400
$1.4M
Cap Rate 7%
$1,026,714
$1.0M
Cap Rate 9%
$798,556
$798.6K
Market Conditions
NOI Build-Up for 4,960 SF
Gross rent
$104.2K $21.00/SF
− Vacancy
−$8.3K −$1.68/SF
EGI
$95.8K $19.32/SF
− OpEx
−$24.0K −$4.83/SF
NOI
$71.9K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,400
Cap Rate 7%
$1,026,714
Cap Rate 9%
$798,556
Alternative Uses
Best Use
Specialty Retail
$1.03M
$898.4K – $1.20M
NOI $71,870 @ 7.0% cap · market cap 4.49%
Second Best
Mixed Use
$841.8K
$736.6K – $982.1K
NOI $58,925 @ 7.0% cap · market cap 3.68%
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,642 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,211
Businesses Nearby
110k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Groceries 36%
Dining 11%
Electronics 1%
ACME Markets
Groceries
32,911 visits/mo
0.2 miles
Citizens Bank
Shops & Services
16,632 visits/mo
0.4 miles
Lukoil
Shops & Services
12,955 visits/mo
0.4 miles
Lukoil
Shops & Services
12,912 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,109 visits/mo
0.4 miles
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Philadelphia, PA
Properties on Market for Mixed-use properties in Philadelphia
Vacancy Rate% for Retail in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant and catering areas occupy two floors, with office and event space above and basement storage below.
Where is this mixed-use property located?
The property is located at 1627 E PASSYUNK AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 4,960 SF mixed‑use property built in 1915; Two floors configured for restaurant, catering, and event use; Third‑floor office and event space
