Freestanding Restaurant
For Sale
$2,000,000
1639-00 E Passyunk Ave, Philadelphia, PA 19148
For sale restaurant property with 4,352 SF on a convenient East Passyunk corridor location.
Property Size4,352 SF
Price / SF$459.56
Days on Market98
Property Features for 1639-00 E Passyunk Ave
General Information
Standard status
Active
Size
4,352 SF
Zoning
CMX25
Taxes and HOA fees
Annual Taxes
$10,154
Amenities
Hot Water, Natural Gas
City, Street
On Street
Building Details
Building Size
4,352 SF
Year Built
1915
Listing Agency:
Century 21 Advantage Gold-South Philadelphia
Listed By:
Albert Perry · License #AB066001
(610) 842-4635
Source:
Evrealestate
Added: May 30
Changed: Aug 27
Last Checked: Sep 4 at 3:33AM
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 restaurant property offers a dedicated building configuration totaling 4,352 square feet. It is marketed for conventional restaurant use, making it a straightforward option for an operator seeking an established restaurant asset rather than starting from scratch.
The address is 1639-00 E Passyunk Ave in Philadelphia, in Philadelphia County. The published directions indicate it sits between Morris & Tasker Streets and between 11th & 12th Streets, providing a useful reference point for accessibility in the immediate corridor.
For buyers or tenants looking for a restaurant-focused commercial real estate opportunity, the building size and conventional restaurant positioning can support a range of foodservice concepts, subject to approvals and final due diligence. If you are assembling an investment or looking for a site tailored to restaurant operations, this property’s freestanding format and single-use orientation may fit well with typical restaurant planning needs.
The address is 1639-00 E Passyunk Ave in Philadelphia, in Philadelphia County. The published directions indicate it sits between Morris & Tasker Streets and between 11th & 12th Streets, providing a useful reference point for accessibility in the immediate corridor.
For buyers or tenants looking for a restaurant-focused commercial real estate opportunity, the building size and conventional restaurant positioning can support a range of foodservice concepts, subject to approvals and final due diligence. If you are assembling an investment or looking for a site tailored to restaurant operations, this property’s freestanding format and single-use orientation may fit well with typical restaurant planning needs.
Key Highlights
- Restaurant property for sale with 4,352 SF
- Hot water and natural gas heating
- On‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,261,200
$1.3M
Cap Rate 7%
$900,857
$900.9K
Cap Rate 9%
$700,667
$700.7K
Market Conditions
NOI Build-Up for 4,352 SF
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.
Gross rent
$91.4K $21.00/SF
− Vacancy
−$7.3K −$1.68/SF
EGI
$84.1K $19.32/SF
− OpEx
−$21.0K −$4.83/SF
NOI
$63.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,261,200
Cap Rate 7%
$900,857
Cap Rate 9%
$700,667
Alternative Uses
Best Use
Specialty Retail
$900.9K
$788.3K – $1.05M
NOI $63,060 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.06M
$928.3K – $1.24M
NOI $74,266 @ 7.0% cap · market cap 3.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,211
Businesses Nearby
110k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale restaurant property with 4,352 SF on a convenient East Passyunk corridor location.
Where is this conventional restaurant located?
The property is located at 1639-00 E Passyunk Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Restaurant property for sale with 4,352 SF; Hot water and natural gas heating; On‑street parking
