New Restaurant on Restaurant
For Sale
$950,000
20 W Mechanic St #9, New Hope, PA 18938
Modern restaurant space in historic New Hope building for sale.
Property Size2,004 SF
Price / SF$474.05
Days on Market770
Property Features for 20 W Mechanic St #9
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Commercial
Amenities
Backs - Open Common Area
Downtown
Stream/Creek
Building Details
Year Built
2023
Listing Agency:
SERHANT PENNSYLVANIA LLC
(610) 635-9977
Listed By:
MAUREEN REYNOLDS · License #RS345687
(215) 740-8140
Source:
Corcoran
Added: Aug 28, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 is a newly constructed, modern restaurant space located on Restaurant Row in New Hope. The property is situated in a converted historic building and offers a total space of 2,004 square feet. The restaurant includes outdoor seating and picturesque water views. Part of The Falls at New Hope, a development featuring luxury restaurant and commercial spaces, the property was designed by award-winning architect Ralph C. Fey. The surroundings include landscaping and scenic views of the Aquetong Creek and the Canal Path. Located in downtown New Hope, in the heart of historic Bucks County, the area offers a blend of dining and shopping experiences. Note that the interior and exterior images provided are renderings.
Key Highlights
- Prime location on Restaurant Row in New Hope.
- Newly constructed, modern restaurant space.
- Part of the prestigious Falls at New Hope development.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,158
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,279
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Dunkin' Donuts
Dining
3,936 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Modern restaurant space in historic New Hope building for sale.
Where is this conventional restaurant located?
The property is located at 20 W Mechanic St #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: Prime location on Restaurant Row in New Hope.; Newly constructed, modern restaurant space.; Part of the prestigious Falls at New Hope development.
