1507-1511 Locust Street , Philadelphia, PA 19102

Property Description

On behalf of the ownership, Rarity Commercial is pleased to present an exclusive opportunity to acquire two premier bar and restaurant assets at 1507-11 Locust Street and 223 S. Sydenham Street consolidated into a single, contiguous lot in the heart of Rittenhouse Square. Together, the properties comprise approximately 17,143 square feet of gross building area across three distinct structures and two separately configured venues, situated on a combined land area of 8,283 square feet. 1507-11 Locust Street is home to Misconduct Tavern, a one-story plus partially finished lower level bar and restaurant totaling 4,901 square feet of gross building area on a 3,271 square foot interior lot. 223 S. Sydenham Street houses The Vesper Lounge, a two-story plus fully finished lower level bar and restaurant totaling 12,242 square feet of gross building area on a 5,012 square foot interior lot. The assemblage carries a CMX-5 zoning designation, Philadelphia's highest-density commercial classification, permitting high-density residential and commercial development by-right and providing a development optionality that is exceedingly rare in this submarket. The combined footprint presents a compelling value proposition for a range of investor profiles — from the passive investor seeking stabilized hospitality income in a market with virtually no vacancy, to the owner-operator looking to plant a flag at one of the most prominent corners in Center City, to the developer positioned to capitalize on the site's significant upside through redevelopment. This is an exceptional opportunity to acquire a consolidated, income-producing asset with long-term optionality in one of Philadelphia's most irreplaceable locations.

Property Features

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