1361 2Nd StPhiladelphia, PA 19122

Property Details for 1361 2Nd St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.03 AC

Property size (Sq ft)

3,510 SF

Zone code

CMX2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

87-1-5241-00

APU

871524100

Description

This exceptional Class A restaurant property, located at 1361 N 2nd St, Philadelphia, PA 19122, is offered for sale at $1,700,000. The 3,875 square foot building boasts a fully equipped, turn-key operation, perfect for an immediate start. A recent 2022 renovation included upgrades to the kitchen, multiple bars, and a spacious dining area. Ample storage is available in the attic. Adding significant value is a separate deed for a 1,000 square foot outdoor patio, ideal for expanding seating capacity and creating a vibrant atmosphere. The property is currently vacant and includes a valuable Pennsylvania R liquor license. The owner is open to considering a lease option. This prime location in the Olde Kensington/Fishtown neighborhood presents a unique opportunity for a savvy investor or owner-user seeking a thriving restaurant business. The property is situated in Philadelphia County and offers excellent visibility and accessibility. The asking price of $1,700,000 translates to $438.71 per square foot. This is a rare chance to acquire a fully operational restaurant with a liquor license and outdoor space in a desirable Philadelphia neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $666,663

  6.5%

  $615,381

  7%

  $571,426

• Comparable approach

  Method

  Valuation

  Relative Method

  $458,617

  Geo Method

  $458,617

• Alternative Use

  Use

  Valuation

  Residential

  $763,073

  Hospitality

  $698,971

  Educational

  $581,535

  Medical

  $601,535

  Retail

  $904,610

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9723

Longitude

-75.1387

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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