Multi-Level Restaurant Space
For Sale
Contact for pricing
4213 Ridge Ave, Philadelphia, PA 19129
Multi-level restaurant space in East Falls neighborhood for sale.
Property Size3,510 SF
Price / SF$242.17
Days on Market832
Property Features for 4213 Ridge Ave
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Retail
Zoning
CMX2.5
Lease Type
NNN
Building Details
Year Built
1939
Buildings
1
Stories
2
Listing Agency:
Sherman Properties
Listed By:
David Spoont · License #RM422056
Source:
Crexi
Added: May 30, 2024
Changed: Aug 31
Last Checked: Sep 8 at 8:43AM
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 Sherman Properties
Investment Insights
Based on property information with market context.
This multi-level restaurant space is located in the East Falls neighborhood, at the corner of Ridge and Midvale. The building, formerly a restaurant, offers two floors of dining space, plus a full basement. The main floor features a large window that opens to provide an alfresco dining atmosphere, a large bar and seating area, a kitchen in the back, and two restrooms. The second floor includes a large picture window, an additional bar, an expansive seating area, two more restrooms, and a small office space in the rear. The property size is 3510 square feet.
Key Highlights
- Multi‑level restaurant space in the heart of East Falls.
- High‑visibility corner location** on Ridge and Midvale.
- Two floors of dining space with expansive seating areas.**
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
$50,860
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
5.98%
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%
$1,017,200
$1.0M
Cap Rate 7%
$726,571
$726.6K
Cap Rate 9%
$565,111
$565.1K
Market Conditions
NOI Build-Up for 3,510 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
$73.7K $21.00/SF
− Vacancy
−$5.9K −$1.68/SF
EGI
$67.8K $19.32/SF
− OpEx
−$17.0K −$4.83/SF
NOI
$50.9K $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 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%
$1,017,200
Cap Rate 7%
$726,571
Cap Rate 9%
$565,111
Alternative Uses
Best Use
Specialty Retail
$726.6K
$635.8K – $847.7K
NOI $50,860 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$855.7K
$748.7K – $998.3K
NOI $59,898 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 32%
Sunoco
Shops & Services
23,998 visits/mo
0.1 miles
Dunkin' Donuts
Dining
15,537 visits/mo
0.1 miles
7-Eleven
Shops & Services
6,905 visits/mo
0.1 miles
Truist
Shops & Services
1,423 visits/mo
0.3 miles
Demographics for 19129, PA
11,437
Population
6,228
Households
1.8
Avg Household Size
35
Median Age
60%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$77,225
Median Household Income
$58,576
Median Earnings
$1,471
Median Rent
$297,400
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?
Conventional restaurant - Multi-level restaurant space in East Falls neighborhood for sale.
Where is this conventional restaurant located?
The property is located at 4213 Ridge Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Multi‑level restaurant space in the heart of East Falls.; High‑visibility corner location** on Ridge and Midvale.; Two floors of dining space with expansive seating areas.**
