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Iconic Philadelphia Landmark Bar

259 S 15th St Philadelphia, PA 19102

259 S 15th St, Philadelphia, PA, 19102
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For Sale
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4,992 SF bar/restaurant property with redevelopment potential.

Property Size4,992 SF
Price / SF$490.79
AddedMay 18
Days on Market59
Last RefreshJun 30 at 12:42 pm

Property Features for 259 S 15th St

General Information

Standard status
Active
Size
4,992 SF
Property subtype
RETAIL

Listing office MPN Realty, Inc.

Listing date May 18, 2026

Source Moodyscre

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 MPN Realty, Inc.


Investment Insights

Based on property information with market context.

The property at 259-61 S 15th St, also known as McGlinchey’s, is available for sale. This iconic Philadelphia landmark bar encompasses approximately 4,992 square feet and is zoned CMX-5, making it suitable for bar and restaurant operators, or potential redevelopment. Originally built in 1922 as a speculative office building by the Lionel Friedman Company, with designs by Hoffman-Henon and construction by the Kober Construction Company, the building initially housed the offices of the Allen-Sherman-Hoff Company for 10 years. Joseph A. McGlinchey purchased the building on September 26, 1932, leasing the first floor to a book and gift store called the Odd Shop, and opening McGlinchey’s Restaurant on the 2nd floor, while residing on the 3rd floor. By the 1950s, McGlinchey’s operated on the first floor while the McGlinchey family lived upstairs. In 1976, the 2nd floor was converted into the Top’s Bar, which evolved from a disco to a music and poetry venue, and eventually became an extension of McGlinchey’s. The property features a bar with a small kitchen on the first floor, a second-floor bar with a stage area, and a third floor in shell condition. After nine decades as a Center City business, McGlinchey’s closed on August 22, 2025. This site presents an opportunity for a new owner to establish their presence and continue the legacy of McGlinchey’s.

Key Highlights

  • Iconic Philadelphia Landmark: Formerly McGlinchey's, offering instant recognition.
  • High‑Traffic CMX‑5 Zoning: Allows for a wide range of commercial uses and potential redevelopment.
  • Sizeable 4,992 +/- SF: Provides ample space for various business concepts.

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 (±1% cap)
NOI $72,334 @ 7.0% cap · market cap 2.95%
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 3.48%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

McGlinchey's Bar Bar & Pub LibertyX Bitcoin ATM Atm

Suggested Use

Tanning Salon (Bike/Boat/Book/etc) Store Clothing & Fashion Store Veterinary Clinic Pet Grooming Service Adult Day Care Home Appliance Store Electrical Service Locksmith (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Ralph's Italian Restaurant — 760 S 9th St, Philadelphia, PA 19147
  • Marian Anderson Historical Society & Museum — 762 Martin St, Philadelphia, PA 19146
  • 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 - 4,992 SF bar/restaurant property with redevelopment potential.
Where is this bar & pub located?
The property is located at 259 S 15th St 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: Iconic Philadelphia Landmark: Formerly McGlinchey's, offering instant recognition.; High‑Traffic CMX‑5 Zoning: Allows for a wide range of commercial uses and potential redevelopment.; Sizeable 4,992 +/- SF: Provides ample space for various business concepts.
Contact an agent
(267) 441-0601 Call to check price and availability
More about this property
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