2,534 Sqft Lot
2,534 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2649528
Year Built 1981
Annual Tax Amount $11,548
Tax Year 2025
Lot Size 2,534 Sqft
Acres 0.06
Lot Dimensions 22.00 x 117.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
The approved project consists of a 7-story mixed-use building containing approximately 17,010.5 gross square feet, including:
26 residential units
21 studio apartments and 5 one-bedroom apartments
Approximately 1,450 square feet of ground-floor commercial space
Elevator service
Bicycle storage
Two exit stairs
Front and rear access
Basement utility and storage areas
Roof deck and roof-deck access structure
Rear parking or loading area, subject to the approved plans
Major zoning and historic-review approvals have been completed, substantially reducing entitlement risk and potentially saving the next owner significant time and expense. Architectural and MEP plans are currently being finalized.
The property is presently improved with an existing modern two-story brick building and four parking spaces. Estimated market rent is approximately $5,800 per month for the ground-floor commercial space and $4,300 per month for the second floor, providing combined estimated rental income of approximately$10,100 per month, or $121,200 annually, before expenses and subject to buyer verification.
A buyer may continue operating the existing income-producing property while finalizing plans, permits, and financing, or proceed with construction of the approved development.
Ideally situated in one of Philadelphia's strongest rental and lifestyle corridors, the property is steps from Rittenhouse Square, Avenue of the Arts, Broad Street, Jefferson University and Jefferson Hospital, Pennsylvania Hospital, Washington Square West, Midtown Village, restaurants, shopping, offices, public transportation, and major Center City employers.
This offering is well-suited for developers, investors, builders, boutique multifamily operators, and buyers seeking a highly visible, approved project in a premier Philadelphia location.
The sale includes available zoning drawings, architectural plans, floor plans, elevations, massing materials, approvals, and due-diligence information upon request.
An exceptional opportunity to acquire an approved Center City development site with substantial existing income potential and the flexibility to hold, lease, or begin construction.
Location
State PA
County Philadelphia
Area 19102 (19102)
Zoning CMX5
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 4.0
Water Access N
Roof Type Asphalt
Accessibility 36\"+ wide Halls, 2+ Access Exits
Total Parking Spaces 4
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 882965855
Ownership Fee Simple
Special Listing Condition Standard
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