Building Details

Year built 1922

Building materials Masonry, Stone

Listing Agency: Mallin Panchelli Nadel Realty Inc r***@mpnrealty.com Show Phone

Listed By: Nadia T Bilynsky · License #RS311101 Show Phone

Added: Oct 2 Last Checked: Oct 17 at 7:06PM

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MLS# PAPH2676950

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This 4,992 +/- SF masonry and stone bar property spans three levels. The first floor has a bar and small kitchen, while the second floor contains another bar and a stage area. The third floor remains in shell condition. Built in 1922, the property occupies 0.0382 acres and is zoned CMX-5.

The building is at 259-61 S 15th Street in Philadelphia. Its existing layout combines bar space, food preparation area, a stage, and an unfinished floor within one property.

Key Highlights

• 4,992 +/- SF across three levels
• First floor includes a bar and small kitchen
• Second‑floor bar with stage area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$72,334

Cap Rate

3.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,446,680 $1.4M

Cap Rate 7%

$1,033,343 $1.0M

Cap Rate 9%

$803,711 $803.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,992 SF

Gross rent

$104.8K $21.00/SF

− Vacancy

−$8.4K −$1.68/SF

EGI

$96.4K $19.32/SF

− OpEx

−$24.1K −$4.83/SF

NOI

$72.3K $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%

$1,446,680

Cap Rate 7%

$1,033,343

Cap Rate 9%

$803,711

Alternative Uses

Best Use

Specialty Retail

$1.03M

$904.2K – $1.21M (±1% cap)

NOI $72,334 @ 7.0% cap · market cap 3.36%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$1.22M

$1.06M – $1.42M (±1% cap)

NOI $85,188 @ 7.0% cap · market cap 3.96%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bars & Pubs

Suggested Use

Top Pick Tanning Salon (Bike/Boat/Book/etc) Store Clothing & Fashion Store Veterinary Clinic Pet Grooming Service Adult Day Care

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

25,331

Businesses Nearby

274k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 40% Apparel 25% Shops & Services 16% Hotels & Casinos 14%

The Ritz-Carlton, Philadelphia Hotels & Casinos

30,824 visits/mo 0.3 miles

Starbucks Dining

22,463 visits/mo 0.3 miles

UNIQLO Apparel

20,066 visits/mo 0.2 miles

Starbucks Dining

16,511 visits/mo 0.5 miles

Ocean Prime Dining

15,550 visits/mo 0.1 miles

Demographics for 19102, PA

7,568

Population

4,606

Households

1.6

Avg Household Size

32

Median Age

87%

College-Educated

98%

High-School Grad

0.2 sq mi

ZIP Area

37,840

Density / Sq Mi

$114,844

Median Household Income

$79,552

Median Earnings

$2,249

Median Rent

$412,200

Median Home Value

Market

Vacancy Rate% for Retail in Philadelphia, PA

6.7% 2019

8.2% 2020

7.8% 2021

6.6% 2022

6.2% 2023

5.5% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Bar & Pub - Two floors are configured for bar operations, with an unfinished upper level.

Where is this bar & pub located?

The property is located at 259-61 S 15TH Street Philadelphia, PA.

What is the asking price?

The asking price for this property is $2,150,000.

What are key features of this property?

This property features: 4,992 +/- SF across three levels; First floor includes a bar and small kitchen; Second‑floor bar with stage area