Renovated Two-Story
New
For Sale
$1,300,000
1913 1913-1915 E Passyunk Ave, Philadelphia, PA 19148
Existing kitchen equipment conveys, excluding soda machines, with a layout suited to continued restaurant operations.
Property Size2,910 SF
Price / SF$446.74
Days on Market2
Property Features for 1913 1913-1915 E Passyunk Ave
General Information
Standard status
Active
Size
2,910 SF
Additional Details
Equipment Included
Yes
Building Details
Year Built
1915
Buildings
1
Stories
2
Listing Agency:
EXP Realty, LLC
Listed By:
Michael V Giuda · License #AB067121
(215) 783-3697
Source:
Upgradebymichaud
Added: Sep 21
Last Checked: Sep 21 at 8:33AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This two-level commercial property was renovated with contemporary interior finishes, including attractive flooring, custom wall treatments, and recessed lighting. The space is currently arranged for restaurant use and includes an extensively equipped kitchen; soda machines are excluded from the sale. The building was constructed in 1915 and offers usable space across both floors.
Positioned at 1913-1915 E Passyunk Avenue in South Philadelphia’s East Passyunk neighborhood, the property sits among restaurants, boutiques, shops, and other neighborhood destinations. Its setting along a pedestrian-oriented commercial corridor supports continued restaurant use and provides a recognizable address for an operator or investor.
Positioned at 1913-1915 E Passyunk Avenue in South Philadelphia’s East Passyunk neighborhood, the property sits among restaurants, boutiques, shops, and other neighborhood destinations. Its setting along a pedestrian-oriented commercial corridor supports continued restaurant use and provides a recognizable address for an operator or investor.
Key Highlights
- Renovated two‑story commercial property configured for restaurant use
- Kitchen equipment included in the sale, excluding soda machines
- Updated flooring, custom wall detailing, and recessed lighting
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
$42,166
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
3.24%
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%
$843,320
$843.3K
Cap Rate 7%
$602,371
$602.4K
Cap Rate 9%
$468,511
$468.5K
Market Conditions
NOI Build-Up for 2,910 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
$61.1K $21.00/SF
− Vacancy
−$4.9K −$1.68/SF
EGI
$56.2K $19.32/SF
− OpEx
−$14.1K −$4.83/SF
NOI
$42.2K $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%
$843,320
Cap Rate 7%
$602,371
Cap Rate 9%
$468,511
Alternative Uses
Best Use
Specialty Retail
$602.4K
$527.1K – $702.8K
NOI $42,166 @ 7.0% cap · market cap 3.24%
Second Best
Retail
$469.8K
$411.1K – $548.2K
NOI $32,889 @ 7.0% cap · market cap 2.53%
Theoretical Best
Multifamily LT 5
$709.4K
$620.7K – $827.7K
NOI $49,659 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,026
Businesses Nearby
121k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Groceries 27%
Dining 13%
Electronics 2%
ACME Markets
Groceries
32,911 visits/mo
0.5 miles
Citizens Bank
Shops & Services
16,632 visits/mo
0.2 miles
TD Bank
Shops & Services
14,055 visits/mo
0.3 miles
Lukoil
Shops & Services
12,912 visits/mo
0.2 miles
Wells Fargo
Shops & Services
8,249 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing kitchen equipment conveys, excluding soda machines, with a layout suited to continued restaurant operations.
Where is this conventional restaurant located?
The property is located at 1913 1913-1915 E Passyunk Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Renovated two‑story commercial property configured for restaurant use; Kitchen equipment included in the sale, excluding soda machines; Updated flooring, custom wall detailing, and recessed lighting
