Corner Restaurant
For Sale
$1,200,000
2449 2449-53 Ridge Ave, Philadelphia, PA 19121
Restaurant and grocery uses occupy the property under long-term leases.
Property Size6,396 SF
Price / SF$187.62
Days on Market33
Property Features for 2449 2449-53 Ridge Ave
General Information
Standard status
Active
Size
6,396 SF
Building Details
Year Built
1915
Listing Agency:
Philly Real Estate
Listed By:
Zhi Wang
Source:
Kandorre
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 22 at 3:24AM
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 Philly Real Estate
Investment Insights
Based on property information with market context.
This 6,396-square-foot commercial property was built in 1915 and currently accommodates both restaurant and grocery store uses. The restaurant includes a 36-seat dining area, providing an established configuration for food service operations.
The property is described as a corner location with visibility from Ridge Ave. Restaurant and grocery operations are leased on a long-term basis, creating a mixed-use commercial arrangement within the building.
The property is described as a corner location with visibility from Ridge Ave. Restaurant and grocery operations are leased on a long-term basis, creating a mixed-use commercial arrangement within the building.
Key Highlights
- 6,396 SF commercial property
- Built in 1915
- Current restaurant and grocery store uses
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
$92,678
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
7.72%
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%
$1,853,560
$1.9M
Cap Rate 7%
$1,323,971
$1.3M
Cap Rate 9%
$1,029,756
$1.0M
Market Conditions
NOI Build-Up for 6,396 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
$134.3K $21.00/SF
− Vacancy
−$10.7K −$1.68/SF
EGI
$123.6K $19.32/SF
− OpEx
−$30.9K −$4.83/SF
NOI
$92.7K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /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%
$1,853,560
Cap Rate 7%
$1,323,971
Cap Rate 9%
$1,029,756
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,678 @ 7.0% cap · market cap 7.72%
Second Best
Retail
$1.03M
$903.6K – $1.20M
NOI $72,289 @ 7.0% cap · market cap 6.02%
Theoretical Best
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $109,147 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,502
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 59%
Shops & Services 32%
Electronics 5%
Dining 4%
Grocery Outlet Bargain Market
Groceries
8,579 visits/mo
0.5 miles
Fine Wine & Good Spirits
Groceries
5,018 visits/mo
0.5 miles
U-Haul Moving & Storage of Strawberry Mansion
Shops & Services
2,225 visits/mo
0.4 miles
Dollar General
Shops & Services
2,210 visits/mo
0.4 miles
Ace Cash Express
Shops & Services
1,631 visits/mo
0.5 miles
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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?
Conventional restaurant - Restaurant and grocery uses occupy the property under long-term leases.
Where is this conventional restaurant located?
The property is located at 2449 2449-53 Ridge Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,396 SF commercial property; Built in 1915; Current restaurant and grocery store uses
