For Sale
$10,000,000

1507 Locust St Philadelphia, PA 19102

Prime Philly Bar, 17,143 SF

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a fully occupied, 17,143 square foot, Class A multi-tenant retail property located in Philadelphia's prestigious Rittenhouse Square neighborhood. The property, encompassing two addresses consolidated into a single contiguous 8,283 square foot lot, currently houses two well-established bars: Misconduct Bar and Vesper Nightclubs. Built in 1984, the property boasts 100% occupancy and benefits from a highly desirable C5 zoning designation, allowing for high-density residential and commercial development. Its prime location offers unparalleled access to Rittenhouse Park, Broad Street, and Suburban Station, a major regional rail hub. Major thoroughfares, including I-76, I-676, and I-95, provide convenient access to the broader region. The surrounding area is characterized by a vibrant mix of residential, commercial, and retail establishments, ensuring high foot traffic and a strong customer base. This property is ideal for both passive investors seeking rental income and owner-users looking to establish a business in a prime location. The significant development potential, coupled with the property's current strong performance, makes this a rare opportunity to acquire a Grade A asset in one of Philadelphia's most sought-after areas. The asking price is $10,000,000.

Highlights

  • Fully occupied, 17,143 SF Class A multi-tenant retail property in Philadelphia's Rittenhouse Square.
  • Two well-established bars (Misconduct Bar and Vesper Nightclubs) occupy the space.
  • Consolidated 8,283 SF lot with a highly desirable C5 zoning designation.
  • Prime location near Rittenhouse Park, Broad Street, and Suburban Station, with easy access to major highways (I-76, I-676, I-95).
  • $10,000,000 asking price.

Property Details for 1507 Locust St

Property type
Retail properties, Bars
Square Feet
17,143 SF
Class
A
Year Built
1984
Units
2

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.948671
Longitude
-75.166488

FAQs

What type of property is this?
Retail property - Prime Philly Bar, 17,143 SF
Where is the retail property located?
The property is located at 1507 Locust St Philadelphia, PA.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: Fully occupied, 17,143 SF Class A multi-tenant retail property in Philadelphia's Rittenhouse Square.; Two well-established bars (Misconduct Bar and Vesper Nightclubs) occupy the space.; Consolidated 8,283 SF lot with a highly desirable C5 zoning designation.
How can I contact the broker?
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1507 Locust St
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