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The Gas Lamp Hotel 140 N 2nd St 5 Room Hotel Philadelphia, PA 19106 $2,950,000 ($590,000/Room) 5.96% Cap Rate
Investment Highlights
- Fully operational 5-key boutique with a reservation system.
- Steps from Independence Mall, the Delaware River waterfront, Race Street Pier, and Market Street's restaurant corridor.
- Philadelphia's #1 leisure tourism submarket.
Executive Summary
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.
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.
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.
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$99,999
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$9.99
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Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,950,000 | Lot Size | 0.04 AC |
| Price Per Room | $590,000 | Building Size | 3,405 SF |
| Sale Type | Investment | No. Rooms | 5 |
| Cap Rate | 5.96% | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1920/2024 |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | B | ||
| Zoning | CMX3 - CMX-3 is a Community Commercial Mixed-Use zoning district in Philadelphia. It’s intended for medium- to higher-intensity mixed-use development. | ||
| Price | $2,950,000 |
| Price Per Room | $590,000 |
| Sale Type | Investment |
| Cap Rate | 5.96% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 3,405 SF |
| No. Rooms | 5 |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2024 |
| Corridor | Interior |
| Zoning | CMX3 - CMX-3 is a Community Commercial Mixed-Use zoning district in Philadelphia. It’s intended for medium- to higher-intensity mixed-use development. |
Amenities
- High Speed Internet Access
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 5 | $175.00 | - |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 881000618 | Improvements Assessment | $525,280 (2026) |
| Land Assessment | $131,320 (2026) | Total Assessment | $656,600 (2026) |
Property Taxes
Parcel Number
881000618
Land Assessment
$131,320 (2026)
Improvements Assessment
$525,280 (2026)
Total Assessment
$656,600 (2026)
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