Turnkey Corner Restaurant
947 Federal Street Philadelphia, PA 19147
947 Federal Street, Philadelphia, PA, 19147
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For Sale
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Owner-occupied restaurant with a fully equipped kitchen, 40–45 seats, and two dedicated front loading delivery zones.
Property Size1,750 SF
Price / SF$428.57
Days on Market22
Property Features for 947 Federal Street
General Information
- Standard status
- Active
- Size
- 1,750 SF
- Property subtype
- Retail
Listing agency
BHHS Fox & Roach Center City-Society Hill
Listed by
Gregory Damis · License #PA 153011A
Source
Crexi
Added: Jul 2 Updated: Jul 23 at 6:35AM Checked: Jul 23 at 6:35AM
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 BHHS Fox & Roach Center City-Society Hill
Investment Insights
Based on property information with market context.
Turnkey, owner-occupied restaurant space built for immediate operation, offering seating for approximately 40–45 guests. The first floor includes a fully equipped kitchen with an exhaust hood and multiple refrigeration boxes and freezers, supported by relatively new A/C. Storage, utilities, and a bathroom are located on the lower level, with an expansive basement providing additional storage and housing utilities. The property also features two dedicated front loading zones for deliveries.
Set on a high-visibility corner in the Italian Market area, the building is two blocks from Pat’s & Geno’s and directly across from Capitolo Playground.
The prior use included a liquor license, and a buyer would need to obtain their own. The seller also notes the ability to build up an additional two floors. The property has been described as suitable for legal eat-in and take-out operations, with concepts including a fine dining restaurant, bar/restaurant, café, coffee shop, or catering hub.
Set on a high-visibility corner in the Italian Market area, the building is two blocks from Pat’s & Geno’s and directly across from Capitolo Playground.
The prior use included a liquor license, and a buyer would need to obtain their own. The seller also notes the ability to build up an additional two floors. The property has been described as suitable for legal eat-in and take-out operations, with concepts including a fine dining restaurant, bar/restaurant, café, coffee shop, or catering hub.
Key Highlights
- Owner‑occupied restaurant space with 40–45 seats in the Italian Market area
- Fully equipped kitchen includes exhaust hood, multiple refrigeration boxes, and freezers
- Relatively new A/C throughout the first floor
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 | $36.8k | $21.00 |
| − Vacancy | −$2.9k | −$1.68 |
| EGI | $33.8k | $19.32 |
| − OpEx | −$8.5k | −$4.83 |
| NOI | $25.4k | $14.49 |
1,750 SF · lease $21.00/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$362.3K
$317.0K – $422.6K
NOI $25,358 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$426.6K
$373.3K – $497.7K
NOI $29,864 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
North Philadelphia Veterinarian
Veterinary Clinic
Casablanca Mediterranean Grill
Restaurant
Philly Burrito Company
Catering Service
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Owner-occupied restaurant with a fully equipped kitchen, 40–45 seats, and two dedicated front loading delivery zones.
Where is this conventional restaurant located?
The property is located at 947 Federal Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Owner‑occupied restaurant space with 40–45 seats in the Italian Market area; Fully equipped kitchen includes exhaust hood, multiple refrigeration boxes, and freezers; Relatively new A/C throughout the first floor
