Mixed-Use Restaurant and
For Sale
$1,800,000
809 N 2nd St, Philadelphia, PA 19123
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 Market94
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.
Listed By:
James E Eaton Jr. · License #RM422218
(610) 975-4269
Source:
Kandorre
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 7 at 4:08PM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,423
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,368,460
$1.4M
Cap Rate 7%
$977,471
$977.5K
Cap Rate 9%
$760,256
$760.3K
Market Conditions
NOI Build-Up for 4,350 SF
Gross rent
$132.1K $30.36/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$124.4K $28.60/SF
− OpEx
−$56.0K −$12.87/SF
NOI
$68.4K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,368,460
Cap Rate 7%
$977,471
Cap Rate 9%
$760,256
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,201
Businesses Nearby
129k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 34%
Shops & Services 33%
Dining 23%
Groceries 5%
Target
Superstores
43,947 visits/mo
0.5 miles
McDonald's
Dining
23,463 visits/mo
0.5 miles
Lukoil
Shops & Services
22,388 visits/mo
0.2 miles
Fine Wine & Good Spirits
Groceries
6,966 visits/mo
0.5 miles
Dunkin' Donuts
Dining
6,253 visits/mo
0.2 miles
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
Frequently Asked Questions
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
