1,943 Sqft Lot
1,943 Sqft Lot
Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
Subdivision Old City
MLS Listing ID PAPH2623330
Year Built 1899
Annual Tax Amount $9,191
Tax Year 2026
Lot Size 1,943 Sqft
Property Sub-Type Special Purpose
Source BRIGHT
Property Description
The asset is anchored by five individually designed guest suites. Adams, Davy, Edison, Latimer, and Tesla. The Edison Suite is a 3-bedroom premium configuration with a full kitchen, functionally equivalent to three rentable keys. The hotel is supplemented by an income-producing ground-floor art gallery, a private outdoor courtyard, and a fully built-out basement speakeasy currently activated as private event space.
Investment highlights
Fully operational 5-key boutique with a reservation system, OTA channels, a direct-booking website, and stabilizing month-over-month performance.
3-bedroom suite with full kitchen generates $391 ADR and $42,261 in 2025 room revenue — effectively three rentable keys within one physical suite, contributing meaningful incremental value beyond the physical room count.
The 1899 historic building was substantially renovated in 2024. Hotel opened August 2024 — buyer inherits modern systems, finishes, and FF&E with no near-term capital plan required.
Hotel rooms, ground-floor gallery lease, First Friday recurring events, and 5 confirmed private events for 2026 — diversifying cash flow with high-margin pass-through revenue.
+44% YoY revenue growth (Aug–Dec 2024 vs. 2025). +55% YoY direct-booking growth (Jan–Feb 2025 vs. 2026). Direct channel share now 58% of 2026 YTD revenue.
Steps from Independence Mall, the Delaware River waterfront, Race Street Pier, and Market Street's restaurant corridor — Philadelphia's #1 leisure tourism submarket.
Current 8% third-party management fee ( $19K/yr) represents 65 bps of stabilized cap rate expansion for an owner-operator buyer who self-manages the asset.
Listing Contacts
Location
State PA
County Philadelphia
Area 19106 (19106)
Zoning CMX3
Interior
Hot Water Electric
Cooling Ductless/Mini-Split
Flooring Hardwood
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 871000475
Ownership Fee Simple
Special Listing Condition Standard
Nearby Locations
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