3,500 sqft

$2,500,000

140 N 2ND STREET, PHILADELPHIA PA, 19106

Price per sqft$714.29

Built in1899

Property size3,500 sqft

Property typeCommercial

Overview

Active

Active-bright

Listed May 18, 2026

Updated 3 days ago

SDGRE is pleased to present The Gas Lamp Hotel, a fully operational 5-key boutique hotel located in the heart of Philadelphia's Old City Historic District. Built in 1899 and meticulously renovated in 2024, the property combines irreplaceable historic character with modern hospitality infrastructure across approximately 3,500 SF of mixed-use space at 140 N 2nd Street. 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

Additional information

MLS^® ID: PAPH2623330

Interior Features

Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.04 Acres

Other Property Details

Taxes: $9,191
Tax Frequency: Annually

Listed by SDG Management, LLC
Listing Contact: 2674469133

The IDX display contains information sourced from the Bright MLS, Inc. as of 9/15/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

Data last updated on 9/15/2026 at 11:30 PM UTC

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