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 Market82
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:
Soldbypattie
Added: Jul 28
Changed: Oct 3
Last Checked: Oct 7 at 1:21PM
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
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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 / Yr
$92,678
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Philadelphia, PA
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
