Frank’s Steak Shop
For Sale
$275,000
227 Main St, Darby, PA 19023
Established neighborhood operation with equipment, inventory, and rear storage included.
Property Size2,476 SF
Price / SF$111.07
Days on Market73
Property Features for 227 Main St
General Information
Standard status
Active
Size
2,476 SF
Property subtype
Residential Income
Financials
Asking Price
$950,000
Business Included
Yes
Additional Details
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$8,877
Listing Agency:
The Bentley Group-PA Ltd
(646) 361-4522
Listed By:
Hassan Abdellah · License #RB069492
(646) 361-4522
Source:
Exprealty
Added: Jun 1
Changed: Aug 11
Last Checked: Aug 12 at 12:46PM
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.
Frank’s Steak Shop is a 2,476-square-foot restaurant property in Darby, Pennsylvania, offered with the operating business and underlying real estate. The sale includes restaurant equipment, fixtures, operational inventory, and a rear garage and storage area.
The restaurant occupies a corner location on Main Street and has served the community for more than 30 years. The offering combines the business and real estate and is required to be sold together with the restaurant.
The restaurant occupies a corner location on Main Street and has served the community for more than 30 years. The offering combines the business and real estate and is required to be sold together with the restaurant.
Key Highlights
- 2,476‑square‑foot restaurant property in Darby, PA
- Business and underlying real estate offered together
- Restaurant equipment, fixtures, and operational inventory included
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
$24,308
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
8.84%
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%
$486,160
$486.2K
Cap Rate 7%
$347,257
$347.3K
Cap Rate 9%
$270,089
$270.1K
Market Conditions
NOI Build-Up for 2,476 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
$37.1K $15.00/SF
− Vacancy
−$2.4K −$0.98/SF
EGI
$34.7K $14.03/SF
− OpEx
−$10.4K −$4.21/SF
NOI
$24.3K $9.82/SF
Area
Delaware County, PA
Vacancy
6.50%
Lease Rate
$15.00 /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%
$486,160
Cap Rate 7%
$347,257
Cap Rate 9%
$270,089
Alternative Uses
Best Use
Specialty Retail
$454.6K
$397.8K – $530.4K
NOI $31,822 @ 7.0% cap · market cap 11.57%
Second Best
Retail
$347.3K
$303.9K – $405.1K
NOI $24,308 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$750.7K
$656.9K – $875.8K
NOI $52,549 @ 7.0% cap · market cap 19.11%
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
1,030
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 19%
Groceries 19%
McDonald's
Dining
21,057 visits/mo
0.3 miles
Save-A-Lot
Groceries
11,635 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,516 visits/mo
0.4 miles
Sunoco
Shops & Services
7,915 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
4,604 visits/mo
0.3 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 - Established neighborhood operation with equipment, inventory, and rear storage included.
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 $275,000.
What are key features of this property?
This property features: 2,476‑square‑foot restaurant property in Darby, PA; Business and underlying real estate offered together; Restaurant equipment, fixtures, and operational inventory included
