34-38 W Girard Ave | 1155-57 N Front St
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34-38 W Girard Ave 1155-57 N Front St
7,062 SF Vacant Retail Building Philadelphia, PA 19123 $2,100,000 ($297/SF) 6.67% Cap Rate
Investment Highlights
- Heavy Foot Traffic
- Multifamily, Hotel, Commercial, or Mixed use by right
- High Visibility Corner
Executive Summary
Property Specs
- CMX3 Zoning
- 2,882 Ground Sq Ft
- Existing buildings contain roughly 8,500 Sq Ft
- 15 key hotel
- H Liquor License
- Cabaret License
- One Carry out restaurant
- One Sit Down Bar Restaurant
- Dumpster License
- All Licenses UP TO DATE and sold with the premises
- Outdoor seating area/private court yard
Hotel Operation:
- 15 key hotel
- Needs renovation and addition of bathrooms to each room
- Must maintain 15 rooms minimum to keep the H Liquor license
List of Licenses in Place:
- Food Prep and serving 30 seats
- Amusement License (cabaret)
- Special Assembly Occupancy (cabaret)
- Dumpster License
- H Liquor License
- CMX3 Zoning
- 2,882 Ground Sq Ft
- Existing buildings contain roughly 8,500 Sq Ft
- 15 key hotel
- H Liquor License
- Cabaret License
- One Carry out restaurant
- One Sit Down Bar Restaurant
- Dumpster License
- All Licenses UP TO DATE and sold with the premises
- Outdoor seating area/private court yard
Hotel Operation:
- 15 key hotel
- Needs renovation and addition of bathrooms to each room
- Must maintain 15 rooms minimum to keep the H Liquor license
List of Licenses in Place:
- Food Prep and serving 30 seats
- Amusement License (cabaret)
- Special Assembly Occupancy (cabaret)
- Dumpster License
- H Liquor License
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$205,200
|
$29.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,260
|
$1.45
|
| Effective Gross Income |
$194,940
|
$27.60
|
| Taxes |
$25,035
|
$3.55
|
| Operating Expenses |
$29,898
|
$4.23
|
| Total Expenses |
$54,933
|
$7.78
|
| Net Operating Income |
$140,007
|
$19.83
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $205,200 |
| Annual Per SF | $29.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,260 |
| Annual Per SF | $1.45 |
| Effective Gross Income | |
|---|---|
| Annual | $194,940 |
| Annual Per SF | $27.60 |
| Taxes | |
|---|---|
| Annual | $25,035 |
| Annual Per SF | $3.55 |
| Operating Expenses | |
|---|---|
| Annual | $29,898 |
| Annual Per SF | $4.23 |
| Total Expenses | |
|---|---|
| Annual | $54,933 |
| Annual Per SF | $7.78 |
| Net Operating Income | |
|---|---|
| Annual | $140,007 |
| Annual Per SF | $19.83 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
7,062 SF
Building Class
C
Year Built
1920
Price
$2,100,000
Price Per SF
$297
Cap Rate
6.67%
NOI
$140,007
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.46
Lot Size
0.07 AC
Zoning
CMX-3 - Commercial mixed use zoning designation that allows for a by right short term stay or boutique hotel use.
Frontage
Amenities
- Air Conditioning
- Smoke Detector
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Calle Del Sabor
- Accommodation and Food Services
- 2,000 SF
- $30.00
- Triple Net
- -
- JJ Mallons
- Accommodation and Food Services
- 1,200 SF
- $25.00
- Triple Net
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Calle Del Sabor | Accommodation and Food Services | 2,000 SF | $30.00 | Triple Net | - | |
| JJ Mallons | Accommodation and Food Services | 1,200 SF | $25.00 | Triple Net | - |
Walk Score ®
Walker's Paradise (97)
Bike Score ®
Biker's Paradise (98)
Nearby Major Retailers
![[solidcore]](https://images1.loopnet.com/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
PROPERTY TAXES
| Parcel Number | 871600250 | Total Assessment | $373,500 |
| Land Assessment | $74,700 | Annual Taxes | $25,035 ($3.55/SF) |
| Improvements Assessment | $298,800 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
871600250
Land Assessment
$74,700
Improvements Assessment
$298,800
Total Assessment
$373,500
Annual Taxes
$25,035 ($3.55/SF)
Tax Year
2024
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34-38 W Girard Ave | 1155-57 N Front St
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