Restaurant Building with Lower
For Sale
$1,950,000
2 Rector Street, Philadelphia, PA 19127
Shell-condition restaurant property retaining portions of its original food-service infrastructure along a busy commercial corridor.
Property Size8,200 SF
Price / SF$237.80
Days on Market115
Property Features for 2 Rector Street
General Information
Standard status
Active
Size
8,200 SF
Property subtype
Retail
Building Details
Building Size
8,200 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
MPN Realty, Inc.
Listed By:
Joe Scarpone · License #330910
(267) 546-1721
Source:
Mpnrealty
Added: Jun 25
Changed: Oct 6
Last Checked: Oct 16 at 5:51AM
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 MPN Realty, Inc.
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Investment Insights
Based on property information with market context.
This Philadelphia restaurant property offers 8,200 SF of usable space across two levels, with approximately 4,100 SF on the first floor and the same amount below. The building dates to 1900 and is currently in shell condition, while portions of the prior restaurant infrastructure remain in place. The property was formerly occupied by Bourbon Blue.
Located on Rector Street within Manayunk’s Main Street commercial corridor, the building is surrounded by restaurants, bars, coffee shops, and specialty retail. It is also within the Manayunk Main Street Historical District. Current zoning supports several approved uses, providing flexibility beyond restaurant occupancy, subject to applicable requirements.
Located on Rector Street within Manayunk’s Main Street commercial corridor, the building is surrounded by restaurants, bars, coffee shops, and specialty retail. It is also within the Manayunk Main Street Historical District. Current zoning supports several approved uses, providing flexibility beyond restaurant occupancy, subject to applicable requirements.
Key Highlights
- 8,200 SF of usable restaurant space across two levels
- Approximately 4,100 SF on both the first floor and lower level
- Shell condition with portions of restaurant infrastructure still intact
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,818
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,376,360
$2.4M
Cap Rate 7%
$1,697,400
$1.7M
Cap Rate 9%
$1,320,200
$1.3M
Market Conditions
NOI Build-Up for 8,200 SF
Gross rent
$172.2K $21.00/SF
− Vacancy
−$13.8K −$1.68/SF
EGI
$158.4K $19.32/SF
− OpEx
−$39.6K −$4.83/SF
NOI
$118.8K $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%
$2,376,360
Cap Rate 7%
$1,697,400
Cap Rate 9%
$1,320,200
Alternative Uses
Best Use
Specialty Retail
$1.70M
$1.49M – $1.98M
NOI $118,818 @ 7.0% cap · market cap 6.09%
Second Best
Retail
$1.32M
$1.16M – $1.54M
NOI $92,678 @ 7.0% cap · market cap 4.75%
Theoretical Best
Multifamily LT 5
$2.00M
$1.75M – $2.33M
NOI $139,932 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
7-Eleven
Shops & Services
8,360 visits/mo
0.5 miles
Sunoco
Shops & Services
4,903 visits/mo
0.5 miles
Insomnia Cookies
Dining
3,023 visits/mo
0.1 miles
Extra Space Storage
Shops & Services
1,795 visits/mo
0.5 miles
Bala Motorsports
Shops & Services
1,117 visits/mo
0.4 miles
Demographics for 19127, PA
6,929
Population
3,496
Households
2
Avg Household Size
29
Median Age
77%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
11,548
Density / Sq Mi
$99,792
Median Household Income
$73,061
Median Earnings
$1,765
Median Rent
$298,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Shell-condition restaurant property retaining portions of its original food-service infrastructure along a busy commercial corridor.
Where is this conventional restaurant located?
The property is located at 2 Rector Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 8,200 SF of usable restaurant space across two levels; Approximately 4,100 SF on both the first floor and lower level; Shell condition with portions of restaurant infrastructure still intact
