Six-Hundred-Seat Bar and
For Sale
$3,500,000
215472 Bridge Street, Philadelphia, PA 19124
Versatile bar and nightclub with two ballrooms, two on-premise commercial kitchens, and multiple event-ready lounge and office spaces.
Property Size15,213 SF
Price / SF$230.07
Days on Market1451
Property Features for 215472 Bridge Street
General Information
Standard status
Active
Size
15,213 SF
Property subtype
Commercial
Lease Term
[]
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Keller Williams Real Estate-Blue Bell
Listed By:
Sharyn Soliman · License #RS330729
(267) 625-7568
Source:
Deepcreeklake
Added: Sep 27, 2022
Changed: Sep 15
Last Checked: Sep 15 at 8:06AM
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 Keller Williams Real Estate-Blue Bell
Investment Insights
Based on property information with market context.
This versatile bar and nightclub property is designed to support multiple guest experiences, with seating for more than 600 people. The building includes two ballrooms or dining rooms, each with a dining area, a buffet area, and a dance floor, plus a DJ booth and stage entertainment setup.
The main entrance off Tulip St. opens to a hostess stand and cocktail lounge with a full bar. A service area connects staff to the kitchen, with a bus area for dishware and centrally located bathrooms. Behind the service area is a full commercial kitchen with staff access to both the dining area and ballroom, and there are two on-premise commercial kitchen areas for additional business flexibility.
A second entrance off the small side parking lot at the corner of Bridge and Tulip provides access to business offices, and upstairs there is a one bedroom/one bath living area plus a private VIP lounge with a full bar area. The property was built in 1920 and totals 15,213 sq.ft. Access includes the Bridge St. exit of the Route 95 expressway, approximately 10 minutes from downtown Philadelphia. On-site parking includes two parking lots, plus an additional lot at 2166-68 Granite totaling 3,360 sq.ft.
The main entrance off Tulip St. opens to a hostess stand and cocktail lounge with a full bar. A service area connects staff to the kitchen, with a bus area for dishware and centrally located bathrooms. Behind the service area is a full commercial kitchen with staff access to both the dining area and ballroom, and there are two on-premise commercial kitchen areas for additional business flexibility.
A second entrance off the small side parking lot at the corner of Bridge and Tulip provides access to business offices, and upstairs there is a one bedroom/one bath living area plus a private VIP lounge with a full bar area. The property was built in 1920 and totals 15,213 sq.ft. Access includes the Bridge St. exit of the Route 95 expressway, approximately 10 minutes from downtown Philadelphia. On-site parking includes two parking lots, plus an additional lot at 2166-68 Granite totaling 3,360 sq.ft.
Key Highlights
- More than 600 seats for flexible bar and nightclub use
- Two ballrooms or dining rooms with dining, buffet, and dance floor areas
- Two on‑premise commercial kitchen areas with staff access to dining and ballroom
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
$111,688
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
3.19%
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%
$2,233,760
$2.2M
Cap Rate 7%
$1,595,543
$1.6M
Cap Rate 9%
$1,240,978
$1.2M
Market Conditions
NOI Build-Up for 15,213 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
$173.4K $11.40/SF
− Vacancy
−$13.9K −$0.91/SF
EGI
$159.6K $10.49/SF
− OpEx
−$47.9K −$3.15/SF
NOI
$111.7K $7.34/SF
Area
ZIP 19124
Vacancy
8.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,233,760
Cap Rate 7%
$1,595,543
Cap Rate 9%
$1,240,978
Alternative Uses
Best Use
Specialty Retail
$8.75M
$7.66M – $10.21M
NOI $612,547 @ 7.0% cap · market cap 17.50%
Second Best
Industrial
$1.60M
$1.40M – $1.86M
NOI $111,688 @ 7.0% cap · market cap 3.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
7,801 visits/mo
0.3 miles
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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?
Bar & Pub - Versatile bar and nightclub with two ballrooms, two on-premise commercial kitchens, and multiple event-ready lounge and office spaces.
Where is this bar & pub located?
The property is located at 215472 Bridge Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: More than 600 seats for flexible bar and nightclub use; Two ballrooms or dining rooms with dining, buffet, and dance floor areas; Two on‑premise commercial kitchen areas with staff access to dining and ballroom
