Modern Restaurant with Water
For Sale
$950,000
Pending
20 W MECHANIC ST #9 9, New Hope, PA 18938
Restaurant space with outdoor seating in The Falls at New Hope, near dining, shopping, and the Canal Path.
Property Size2,004 SF
Days on Market43
Property Features for 20 W MECHANIC ST #9 9
General Information
Standard status
Pending
Size
2,004 SF
Additional Details
Patio
Yes
Listing Agency:
SERHANT PENNSYLVANIA LLC
(215) 740-8140
Listed By:
Maureen Reynolds · License #RS345687
(215) 740-8140
Source:
Sandrasellstheshore
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 9:56AM
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 SERHANT PENNSYLVANIA LLC
Investment Insights
Based on property information with market context.
This newly constructed restaurant occupies 2,004 square feet within a converted historic building at The Falls at New Hope. The space includes outdoor seating and views toward Aquetong Creek, with landscaping incorporated throughout the surrounding development. Interior and exterior images are renderings rather than photographs of the completed space.
The property is located at 20 W Mechanic St #9 in New Hope, within a destination-oriented setting that combines restaurant and commercial uses. Downtown New Hope provides access to established dining and shopping activity, while the nearby Canal Path and creek contribute scenic context. The development’s restaurant and commercial spaces were designed by architect Ralph C. Fey.
The property is located at 20 W Mechanic St #9 in New Hope, within a destination-oriented setting that combines restaurant and commercial uses. Downtown New Hope provides access to established dining and shopping activity, while the nearby Canal Path and creek contribute scenic context. The development’s restaurant and commercial spaces were designed by architect Ralph C. Fey.
Key Highlights
- 2,004‑square‑foot restaurant in a converted historic building
- Outdoor seating included
- Views of Aquetong Creek and the Canal Path
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
$31,158
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
3.28%
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%
$623,160
$623.2K
Cap Rate 7%
$445,114
$445.1K
Cap Rate 9%
$346,200
$346.2K
Market Conditions
NOI Build-Up for 2,004 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
$44.0K $21.96/SF
− Vacancy
−$2.5K −$1.23/SF
EGI
$41.5K $20.73/SF
− OpEx
−$10.4K −$5.18/SF
NOI
$31.2K $15.55/SF
Area
Bucks County, PA
Vacancy
5.60%
Lease Rate
$21.96 /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%
$623,160
Cap Rate 7%
$445,114
Cap Rate 9%
$346,200
Alternative Uses
Best Use
Specialty Retail
$445.1K
$389.5K – $519.3K
NOI $31,158 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$607.6K
$531.6K – $708.9K
NOI $42,531 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18938, PA
14,301
Population
6,369
Households
2.2
Avg Household Size
54
Median Age
67%
College-Educated
97%
High-School Grad
40.9 sq mi
ZIP Area
350
Density / Sq Mi
$161,146
Median Household Income
$93,397
Median Earnings
$2,005
Median Rent
$701,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space with outdoor seating in The Falls at New Hope, near dining, shopping, and the Canal Path.
Where is this conventional restaurant located?
The property is located at 20 W MECHANIC ST #9 9 New Hope, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,004‑square‑foot restaurant in a converted historic building; Outdoor seating included; Views of Aquetong Creek and the Canal Path
