Philadelphia, PA Retail Space for Lease
Search 201 retail listings in Philadelphia, PA and find helpful local stats in the Market Overview section below.
Rent costs for this type of commercial space depend on a variety of factors. The foremost of these is location, which will dictate how accessible a business is and how much foot traffic it gets. Other factors, such as space type and lease structure, also come into play. On average, retail space for lease in Philadelphia asks $31.71 per square foot.
The most common type of lease agreement you’ll find here is NNN, with 98 space(s) available under this type of arrangement. The local market is also home to 8 retail space(s) offered under a Modified Gross lease agreement type, and 7 Full Service listing(s).
The average size for this type of rental opportunity in Philadelphia is 1,000 sqft to 2,500 sqft. Currently, the local market offers 108 listing(s) within that size range. You can also search 98 listing(s) in the more than 5,000 sqft range. It should be noted that spaces in this real estate category are generally specialized to cater to the needs of a particular business, so the average sizes of different retail space types can vary greatly.
Retail space in Philadelphia comes in all types, shapes, and sizes, so you have a good chance to find the right space for your business. The most common type here is listed as Street Retail and you can find 90 such space(s) available.
Street Retail spaces listed for rent here have an average size of 5,104,937 square feet. You’ll find street retail spaces are mostly located in urban and suburban areas that have high foot traffic. This type of space is often a great choice for smaller retailers that are looking for well-positioned points of sale.
The local market is also home to 12 space(s) listed as Restaurant. The average size you can expect to find for this category is 3,524 square feet. Retail space specialized for restaurants usually includes ample seating areas and enough room for the safe preparation of food. Restaurant spaces may be embedded in a larger mall or can be freestanding buildings.
What’s more, you can find 6 listing(s) in the Regional Mall category, currently available in the average size of 68,280 square feet. Regional shopping centers or regional malls are among the largest retail properties you can find. They tend to bring together a large number of customers with a wide array of businesses ready to cater to a diverse array of needs and interests.
Street Retail
90
Restaurant
12
Regional Mall
6
Community Center
1
Freestanding
1
Street Retail
5,104,937 sq. ft.
Restaurant
3,524 sq. ft.
Regional Mall
68,280 sq. ft.
Community Center
43,038 sq. ft.
Freestanding
5,585 sq. ft.
However, besides these popular subtypes, the market has a lot to offer for entrepreneurs looking for the right space to promote their business and get their goods to customers.
In general, the most successful retail businesses are located within relatively close proximity of each other, which leads to some neighborhoods becoming famous shopping destinations. Even in the case of suburban strip malls, the simple fact that so many different products can be purchased under the same roof can encourage customers to spend more.
Center City West is your top choice for lease opportunities, as it is currently home to the highest number of listings — 34 retail space(s). The most popular space type here is Street Retail. You can find 20 such listing(s) here.
Philadelphia’s second most popular area is Old City, where you can find 26 retail listing(s). The most likely type of space you can rent here is Street Retail. If this is the kind of property you are looking for, you will find 9 listing(s) available here.
Girard Estates is also among the best areas to search for your next commercial space. Here you can find 24 retail space(s) available for consideration by prospective tenants, of which 6 are Regional Mall.
Center City West
34
Old City
26
Girard Estates
24
Rittenhouse Square
15
Parkwood
10
When you’re looking to give your business a storefront, there are a lot of decisions to be made. The first choice is, of course, location. You’ll have to decide whether your business would operate better in the heart of the city or if it is more likely to thrive in a suburban setting.
Data based on retail spaces listed for rent on CommercialSearch.com
The mall giant is expanding its offering at flagship locations.
This development is the final phase of a 1,500-acre master-planned community.
The owner purchased the asset in an $879 million portfolio transaction.
LS Property Investments purchased the 101-651-square-foot property.
Christina Crossing in Wilmington, Del., previously traded in 2022.
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