Mixed-Use Restaurant and
1637 E Passyunk Avenue Philadelphia, PA 19148
1637 E Passyunk Avenue, Philadelphia, PA, 19148
$1,500,000
For Sale
$1,500,000
Three connected properties along East Passyunk include restaurant space, operating support areas, and multiple residential units.
Property Size3,503 SF
Price / SF$428.20
Days on Market67
Property Features for 1637 E Passyunk Avenue
General Information
- Standard status
- Active
- Size
- 3,503 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1915
Listing agency
Century 21 Advantage Gold-South Philadelphia
(610) 842-4635
Listed by
Albert Perry · License #AB066001
(610) 842-4635
Source
Xome
Added: May 16 Updated: Jul 21 at 3:44PM Checked: Jul 21 at 3:44PM
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 Century 21 Advantage Gold-South Philadelphia
Investment Insights
Based on property information with market context.
This for-sale mixed-use package includes 1637 E Passyunk Ave, 1632 S Jessup Street, and 1639 E Passyunk Ave, built to support a restaurant operation with residential income above. 1637 E Passyunk Ave features first-floor restaurant seating, two bathrooms, and a private basement area, with a residence above spanning the second and third floors. That upper-level layout includes three bedrooms and two full baths, and offers the potential to be reconfigured into two separate units.
1632 S Jessup Street historically functioned as the restaurant’s operational kitchen and adds additional support space, with an upper level that includes a private chef’s kitchen, dining area, and its own bathroom. 1639 E Passyunk Ave provides additional restaurant or commercial seating on the first floor, along with two bathrooms and a private basement. The upper floors include three apartments: two 2-bedroom units and one 1-bedroom unit. Ownership is within the Passyunk Avenue Business Improvement District (B.I.D.).
1632 S Jessup Street historically functioned as the restaurant’s operational kitchen and adds additional support space, with an upper level that includes a private chef’s kitchen, dining area, and its own bathroom. 1639 E Passyunk Ave provides additional restaurant or commercial seating on the first floor, along with two bathrooms and a private basement. The upper floors include three apartments: two 2-bedroom units and one 1-bedroom unit. Ownership is within the Passyunk Avenue Business Improvement District (B.I.D.).
Key Highlights
- Three connected properties: 1637 E Passyunk Ave, 1632 S Jessup St, and 1639 E Passyunk Ave along East Passyunk
- 1637 E Passyunk Ave includes restaurant seating, 2 bathrooms, and a basement; second/third floors feature 3BR and 2 full baths (potential 2 units)
- 1632 S Jessup St served as the restaurant operational kitchen with upper‑level private chef’s kitchen, dining area, and its own bathroom
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.4k | $30.36 |
| − Vacancy | −$6.2k | −$1.76 |
| EGI | $100.2k | $28.60 |
| − OpEx | −$45.1k | −$12.87 |
| NOI | $55.1k | $15.73 |
3,503 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$787.1K
$688.8K – $918.3K
NOI $55,100 @ 7.0% cap · market cap 3.67%
Second Best
Specialty Retail
$725.1K
$634.5K – $846.0K
NOI $50,758 @ 7.0% cap · market cap 3.38%
Theoretical Best
Multifamily LT 5
$854.0K
$747.2K – $996.3K
NOI $59,778 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Mamma Maria Ristorante ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Three connected properties along East Passyunk include restaurant space, operating support areas, and multiple residential units.
Where is this conventional restaurant located?
The property is located at 1637 E Passyunk Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three connected properties: 1637 E Passyunk Ave, 1632 S Jessup St, and 1639 E Passyunk Ave along East Passyunk; 1637 E Passyunk Ave includes restaurant seating, 2 bathrooms, and a basement; second/third floors feature 3BR and 2 full baths (potential 2 units); 1632 S Jessup St served as the restaurant operational kitchen with upper‑level private chef’s kitchen, dining area, and its own bathroom
