Neighborhood Steak Restaurant and Real
For Sale
$675,000
227 Main St, Darby, PA 19023
For sale as a package with the restaurant, including equipment, fixtures, and a rear garage/storage area.
Property Size3,684 SF
Price / SF$183.22
Days on Market97
Property Features for 227 Main St
General Information
Standard status
Active
Size
3,684 SF
Zoning
CBD
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$8,877
Amenities
Central Air
Hot Water, Natural Gas
On Street
Building Details
Building Size
3,684 SF
Year Built
1920
Stories
2
Listing Agency:
The Bentley Group-PA Ltd
Listed By:
Hassan Abdellah · License #RB069492
(646) 361-4522
Source:
Evrealestate
Added: May 31
Changed: Sep 3
Last Checked: Sep 4 at 2:11AM
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 The Bentley Group-PA Ltd
Investment Insights
Based on property information with market context.
This offering is for sale as a combined business and real estate package for Frank’s Steak Shop. The sale includes the restaurant business and the underlying property, along with equipment, fixtures, operational inventory, and a rear garage/storage area.
Frank’s Steak Shop has served the community for more than 35 years from a prominent corner location on Main Street in Darby, PA. The property and business are presented together as a single acquisition.
Financials and tax returns are available for qualified buyers.
Frank’s Steak Shop has served the community for more than 35 years from a prominent corner location on Main Street in Darby, PA. The property and business are presented together as a single acquisition.
Financials and tax returns are available for qualified buyers.
Key Highlights
- Frank’s Steak Shop for sale as a package with the underlying real estate in Darby, PA.
- $950,000 total: business for $675,000 and real estate for $275,000, sold together.
- Restaurant has served the community for more than 35 years from a prominent corner location on Main Street.
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
$47,347
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
7.01%
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%
$946,940
$946.9K
Cap Rate 7%
$676,386
$676.4K
Cap Rate 9%
$526,078
$526.1K
Market Conditions
NOI Build-Up for 3,684 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
$66.3K $18.00/SF
− Vacancy
−$3.2K −$0.86/SF
EGI
$63.1K $17.14/SF
− OpEx
−$15.8K −$4.28/SF
NOI
$47.3K $12.85/SF
Area
Delaware County, PA
Vacancy
4.80%
Lease Rate
$18.00 /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%
$946,940
Cap Rate 7%
$676,386
Cap Rate 9%
$526,078
Alternative Uses
Best Use
Specialty Retail
$676.4K
$591.8K – $789.1K
NOI $47,347 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$977.3K – $1.30M
NOI $78,187 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Phillips 66
Shops & Services
5,120 visits/mo
0.4 miles
Conoco
Shops & Services
4,249 visits/mo
0.1 miles
Advance Auto Parts
Shops & Services
4,023 visits/mo
0.2 miles
Marathon
Shops & Services
3,206 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
1,287 visits/mo
0.5 miles
Demographics for 19023, PA
22,180
Population
9,089
Households
2.4
Avg Household Size
34
Median Age
17%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,090
Density / Sq Mi
$48,962
Median Household Income
$37,110
Median Earnings
$1,240
Median Rent
$117,200
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 - For sale as a package with the restaurant, including equipment, fixtures, and a rear garage/storage area.
Where is this conventional restaurant located?
The property is located at 227 Main St Darby, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Frank’s Steak Shop for sale as a package with the underlying real estate in Darby, PA.; $950,000 total: business for $675,000 and real estate for $275,000, sold together.; Restaurant has served the community for more than 35 years from a prominent corner location on Main Street.
