1223 Walnut StPhiladelphia, PA 19107

Property Details for 1223 Walnut St

Year built

2005

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

6,696 SF

Zone code

CMX5

Property type

Apartment buildings

APN

88-1-0111-01

APU

881011101

Description

This exceptional Center City Philadelphia property at 1223 Walnut St, zip code 19107, presents a lucrative investment opportunity. The 3,500 square foot building houses a thriving Latin-American restaurant and bar, boasting a charming outdoor patio known as "The Hacienda." Completely remodeled three years ago, this easily managed establishment operates only 40 hours per week, generating a verifiable annual income of $300,000 and closing two days a week. The sale includes a valuable liquor license. A full basement with high ceilings adds significant potential. Further enhancing the investment, the property includes four fully rented apartments: three one-bedroom, one-bathroom units and one two-story, three-bedroom, two-bathroom unit. The asking price for the entire property is $2,750,000. The owner is open to selling the real estate ($2,000,000) and the business with the liquor license ($750,000) separately, but the business must sell first. This turnkey operation in a prime location offers a compelling blend of income-generating assets. The property's location in Philadelphia County, Pennsylvania, ensures strong tenant demand and high visibility. This is a rare opportunity to acquire a profitable, established business with significant rental income potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,987,700

  6.5%

  $2,757,880

  7%

  $2,560,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,023,630

  Geo Method

  $1,023,630

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,417,320

  Retail / Commercial

  $2,270,180

  Mixed-Use / Specialty

  $2,266,030

  Hospitality / Lodging

  $1,667,640

  Office

  $2,256,670

  Institutional / Educational

  $2,357,160

  Multifamily

  $3,285,810

  Automotive / Energy

  $2,020,420

  Parking / Income-Based Land

  $693,332

  Restaurant / Food Service

  $1,186,980

  Healthcare / Senior Housing

  $2,319,730

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9493

Longitude

-75.1616

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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