1155-57 Front StPhiladelphia, PA 19123

Property Details for 1155-57 Front St

Year built

1920

Property size (Sq ft)

8,500 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional mixed-use property in Philadelphia's vibrant Fishtown neighborhood presents a compelling investment opportunity. Located at 1155-57 N Front St, this fee-simple offering encompasses two addresses joined by party walls, totaling 8,500 square feet on a 2,882 square foot lot, zoned CMX3. The property boasts a 15-key hotel (requiring renovation, including bathroom additions to maintain the H Liquor License and minimum 15 rooms), a fully operational second-generation bar/restaurant, and a carry-out taco shop. Two existing residential units are ready for redevelopment. The property also includes a cabaret license and all licenses are up-to-date and included in the sale. Currently operating at 80% occupancy, the property generates a Net Operating Income (NOI) of $135,892, with a pro-forma NOI projected at $200,000, representing a 6.47% cap rate and a pro-forma cap rate of 9.52%. The asking price is $2,100,000 ($247.06/sq ft and $140,000/key). The property features a three-story building constructed in 1920, renovated in 2022, and includes an outdoor seating area/private courtyard. This is a value-add redevelopment opportunity with significant upside potential in a highly desirable location. The property is a NNN lease type with multiple tenants (2). There is no tenant credit rating available.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9687

Longitude

-75.1361

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].