Multi-Level Restaurant and Bar
259-61 South 15th Street Philadelphia, PA 19102
259-61 South 15th Street, Philadelphia, PA, 19102
$2,450,000
For Sale
$2,450,000
Multi-level bar and kitchen space with a stage area and a third-floor shell level.
Property Size4,992 SF
Price / SF$490.79
Days on Market25
Property Features for 259-61 South 15th Street
General Information
- Standard status
- Active
- Size
- 4,992 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1922
Listing Agency
Mallin Panchelli Nadel Realty Inc
(267) 546-1718
Listed by
Nadia Bilynsky · License #RS330429
Source
Mpnrealty
Added: Jun 25 Checked: Jul 19 at 2:16 am
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 Mallin Panchelli Nadel Realty Inc
Investment Insights
Based on property information with market context.
This 4,992 +/- SF multi-level bar and restaurant building includes a first-floor bar with a small kitchen. The second floor features an additional bar with a stage area, suitable for live entertainment or events. The third floor is currently in shell condition, offering an unfinished level that may be finished to fit an operator’s needs. The property is offered for sale as 259-61 S 15th St, also known as McGlinchey’s.
The site is zoned CMX-5. The offering is presented for bar/restaurant operators or for potential redevelopment, given the existing vertical configuration and the third-floor shell level.
For buyers evaluating concepts that require multiple guest levels, the current layout supports an operator seeking separate bar areas and a dedicated stage on the second floor. Alternatively, the shell-condition third floor provides a build-out opportunity for additional seating, service space, or other program elements consistent with the property’s zoning. The first-floor kitchen support and existing bar setup can help streamline a hospitality use compared with starting from a vacant single level.
The site is zoned CMX-5. The offering is presented for bar/restaurant operators or for potential redevelopment, given the existing vertical configuration and the third-floor shell level.
For buyers evaluating concepts that require multiple guest levels, the current layout supports an operator seeking separate bar areas and a dedicated stage on the second floor. Alternatively, the shell-condition third floor provides a build-out opportunity for additional seating, service space, or other program elements consistent with the property’s zoning. The first-floor kitchen support and existing bar setup can help streamline a hospitality use compared with starting from a vacant single level.
Key Highlights
- 4,992 +/- SF multi‑level bar property at 259‑61 S 15th St (aka McGlinchey’s), built in 1922
- First‑floor bar with small kitchen
- Second‑floor bar with stage area
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.8k | $21.00 |
| − Vacancy | −$8.4k | −$1.68 |
| EGI | $96.4k | $19.32 |
| − OpEx | −$24.1k | −$4.83 |
| NOI | $72.3k | $14.49 |
4,992 SF · lease $21.00/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.03M
$904.2K – $1.21M
NOI $72,334 @ 7.0% cap · market cap 2.95%
Second Best
Industrial
$523.6K
$458.1K – $610.8K
NOI $36,649 @ 7.0% cap · market cap 1.50%
Theoretical Best
Multifamily LT 5
$1.22M
$1.06M – $1.42M
NOI $85,188 @ 7.0% cap · market cap 3.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
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- Le Caveau — 614 S 7th St, Philadelphia, PA 19147
- Hale & True Cider Co. — 613 S 7th St, Philadelphia, PA 19147
- Red Dog Music — 1845 Christian St, Philadelphia, PA 19146
FAQs
What type of property is this?
Bar & Pub - Multi-level bar and kitchen space with a stage area and a third-floor shell level.
Where is this bar & pub located?
The property is located at 259-61 South 15th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 4,992 +/- SF multi‑level bar property at 259‑61 S 15th St (aka McGlinchey’s), built in 1922; First‑floor bar with small kitchen; Second‑floor bar with stage area
