Mixed-Use Restaurant and
809 N 2nd St Philadelphia, PA 19123
New
809 N 2nd St, Philadelphia, PA, 19123
$1,800,000
For Sale
$1,800,000
First-floor restaurant built in 2021 can be delivered vacant; second-floor 3 bed/2 bath apartment renovated 2020–2021.
Property Size4,350 SF
Price / SF$413.79
Days on Market3
Property Features for 809 N 2nd St
General Information
- Standard status
- Active
- Size
- 4,350 SF
Building Details
- Year Built
- 2005
Listing agency
Geis Realty Group, Inc.
(610) 975-4269
Listed by
James E Eaton Jr. · License #RM422218
Source
Kandorre
Added: Jul 21 Updated: Jul 22 at 5:38PM Checked: Jul 22 at 5:38PM
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 Geis Realty Group, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property offers a first-floor restaurant space built in 2021. The restaurant can be delivered vacant upon settlement, providing flexibility for an investor or owner-occupant.
A second-floor residential apartment is configured as a 3-bedroom, 2-bath unit. The apartment was renovated during 2020–2021 and has been leased by the same tenant for the past three years.
Located at 809 N 2nd St in Philadelphia’s Norther Liberties, the building is set up to combine active restaurant income potential with ongoing residential tenancy.
A second-floor residential apartment is configured as a 3-bedroom, 2-bath unit. The apartment was renovated during 2020–2021 and has been leased by the same tenant for the past three years.
Located at 809 N 2nd St in Philadelphia’s Norther Liberties, the building is set up to combine active restaurant income potential with ongoing residential tenancy.
Key Highlights
- Year built 2005 building with first‑floor restaurant and second‑floor apartment
- First‑floor restaurant built in 2021 can be delivered vacant upon settlement
- Second‑floor apartment offers 3 bedrooms and 2 bathrooms
Local Financial Insights For Apartment 5plus
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 | $132.1k | $30.36 |
| − Vacancy | −$7.7k | −$1.76 |
| EGI | $124.4k | $28.60 |
| − OpEx | −$56.0k | −$12.87 |
| NOI | $68.4k | $15.73 |
4,350 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$977.5K
$855.3K – $1.14M
NOI $68,423 @ 7.0% cap · market cap 3.80%
Second Best
Specialty Retail
$900.5K
$787.9K – $1.05M
NOI $63,032 @ 7.0% cap · market cap 3.50%
Theoretical Best
Multifamily LT 5
$1.06M
$927.9K – $1.24M
NOI $74,232 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Helio Power Systems
Electrical Service
Royal Thai & Sushi
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - First-floor restaurant built in 2021 can be delivered vacant; second-floor 3 bed/2 bath apartment renovated 2020–2021.
Where is this conventional restaurant located?
The property is located at 809 N 2nd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Year built 2005 building with first‑floor restaurant and second‑floor apartment; First‑floor restaurant built in 2021 can be delivered vacant upon settlement; Second‑floor apartment offers 3 bedrooms and 2 bathrooms
