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Property profile & analytics
FOR LEASE
Turn key restaurants
622 E Gay St West Chester, PA 19382
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-2884507
For Lease
1 / 3
$940,000
622 E Gay St, West Chester, PA 19382
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1958
Total area
4,620 SF
Lot
0.21 ac (9,024 SF)
Zoning code
CS
APN
0106 00010200
UPID
US73-2884507
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Market Street Hardware Building Supply Hardware & Home Improvement
-
New Life Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$628k
Blend (final)
Blend
$940k
Owner & transaction history
Frank J Eckley JR · 3 yrs held
Frank J Eckley JR
since 2023
Last sale
$835,000
3 recorded transactions
Zoning & alternative use
CS · West Chester, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+15.3%
Commercial (general)
$1.4M
+2.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Chester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Chester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$975,000
ML approach
$1,115,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,335,000
Current use
AUTO REPAIR, GARAGE
$1,540,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,375,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±10% · vs last sale $835k (Jul 3 2023)
Last sale anchor
$835k
Jul 3 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$203 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$7,839
Tax year 2024
Assessed value
$223,480
Assessed 2024
Previous assessed
$223,480
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$80,850
Assessed improvement
$142,630
Land market value
$80,850
Improvement market value
$146,480
Total market value
$227,330
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1958
Heating
FORCED AIR
Cooling
CENTRAL
Total area
4,620 SF
Lot
0.21 ac (9,024 SF)
Zoning code
CS
APN
0106 00010200
UPID
US73-2884507
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
CS · West Chester, PA
Zoning CS · permitted uses
CS · West Chester, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Chester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RESTAURANT Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1958
Heating
FORCED AIR
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Frank J Eckley JR
Individual
Mailing address
622 E GAY ST, WEST CHESTER, PA 19380-2733
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2023
$835,000
Frank J Eckley JR
Joseph Izzi
Deed
$100,000 · First Resource Bank
Oct 7, 2015
—
Joseph Izzi
Izzi Family Trust
Quit Claim Deed
—
—
—
Joseph Izzi
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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