1507 Locust StPhiladelphia, PA 19102

For Sale
$10,000,000

Prime Philly Bar, 17,143 SF

Overview

Added:
Dec 11, 2024
Days on market:
94
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
Other retail properties, Restaurants
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
1507 Locust St, Philadelphia, Pennsylvania

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1507 Locust St
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