Retail Space Formerly
For Sale
$1,799,999
344-348 Street, Philadelphia, PA 19147
Retail space with former Copabanana Restaurant use, totaling 4,872 SF on South Street in Philadelphia.
Property Size4,872 SF
Price / SF$369.46
Days on Market174
Property Features for 344-348 Street
General Information
Standard status
Active
Size
4,872 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Amenities
A/C - Other
3
CMX-3
No Parking.
14.00 x 40.00
Building Details
Year Built
1900
Listing Agency:
National Realty Old City LLC - PA
(267) 439-6926
Listed By:
Billy Creagh · License #ABR002759
(267) 439-6926
Source:
Xome
Added: Feb 24
Changed: Aug 14
Last Checked: Aug 17 at 3:56AM
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 National Realty Old City LLC - PA
Investment Insights
Based on property information with market context.
This retail space totals 4,872 SF at 344-348 South Street and was formerly home to the Copabanana Restaurant. The property is presented for sale by a motivated seller offering flexible financing availability.
The location is described as being in a highly visible, busy corridor with walkable and bikeable access. The remarks also note proximity to major highways and a roughly six-minute drive to the Philadelphia 30th St Commuter Rail. Nearby dining establishments referenced in the listing include Jim’s Steaks, Nora's Kitchen, Redcrest Kitchen, and Lucky's Last Chance.
For buyers seeking a retail-oriented asset with established restaurant history, this offering provides a central Philadelphia address and a flexible financing proposition from the seller.
The location is described as being in a highly visible, busy corridor with walkable and bikeable access. The remarks also note proximity to major highways and a roughly six-minute drive to the Philadelphia 30th St Commuter Rail. Nearby dining establishments referenced in the listing include Jim’s Steaks, Nora's Kitchen, Redcrest Kitchen, and Lucky's Last Chance.
For buyers seeking a retail-oriented asset with established restaurant history, this offering provides a central Philadelphia address and a flexible financing proposition from the seller.
Key Highlights
- 4,872 SF retail space at 344‑348 South St in Philadelphia, formerly used as the Copabanana Restaurant
- Zoning: CMX‑3
- Cooling listed as A/C - Other; Heating listed as 3
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
$55,064
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
3.06%
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%
$1,101,280
$1.1M
Cap Rate 7%
$786,629
$786.6K
Cap Rate 9%
$611,822
$611.8K
Market Conditions
NOI Build-Up for 4,872 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
$87.7K $18.00/SF
− Vacancy
−$9.0K −$1.85/SF
EGI
$78.7K $16.15/SF
− OpEx
−$23.6K −$4.84/SF
NOI
$55.1K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,101,280
Cap Rate 7%
$786,629
Cap Rate 9%
$611,822
Alternative Uses
Best Use
Retail
$786.6K
$688.3K – $917.7K
NOI $55,064 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,140 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,558
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 32%
Groceries 13%
Electronics 2%
Sunoco
Shops & Services
16,488 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,824 visits/mo
0.4 miles
Fine Wine & Good Spirits
Groceries
7,090 visits/mo
0.5 miles
Kung Fu Tea
Dining
7,072 visits/mo
0.1 miles
Starbucks
Dining
6,328 visits/mo
0.5 miles
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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?
Retail space - Retail space with former Copabanana Restaurant use, totaling 4,872 SF on South Street in Philadelphia.
Where is this retail space located?
The property is located at 344-348 Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: 4,872 SF retail space at 344‑348 South St in Philadelphia, formerly used as the Copabanana Restaurant; Zoning: CMX‑3; Cooling listed as A/C - Other; Heating listed as 3
