Thank you
Maria Maria Quattrone Quattrone
RE/MAX @ HOME
215-607-3535
This magnificent architectural masterpiece, prominently positioned on Market Street in Old City, presents a rare opportunity for development in a bustling urban locale. Boasting an impressive facade that floods both floors with natural light, this property offers the perfect opportunity to transform this commercial building into a mixed-use multi-family investment. Currently configured as a bar/restaurant, this expansive space is approximately 6,300 square feet. The width of the property is a generous 22 Ft and goes as far back as 99 Ft making the lot size 2,178 Sq/Ft. The current zoning is CMX-3 which allows by right for you to develop this into 8 total units - 1 commercial unit on the 1st floor and 7 residential units. This development will require for two addition stories to be added in order to fit all of the units comfortably. With the city 's plan of building a Park Cap over I-95 this can be the perfect opportunity to buy in the neighbor before prices increase dramatically. With the plan of developing this into a mixed-use multifamily cash flowing building and holding onto it for the long term can create tons of equity for generations to come. This location enjoys easy access to public transportation via the MFL Frankford Transportation Center to 69th St Transportation Center at the 2nd St Station - MFL stop. With a Walk Score of 100, transit score of 100, and Bike Score of 84, this area is a paradise for pedestrians, commuters, and cyclists alike. Surrounded by essential services such as CVS Pharmacy, the US Post Office, and various local businesses, this property offers endless possibilities for development. Don't miss out on this prime opportunity - schedule a viewing today before it's too late!
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Water Source : Public
Exterior Property Features : Sidewalks,Street Lights
Basement Description: Fully Finished
Cooling: Central A/C
Heating: Heat Pump(s)
Cooling Fuel: Natural Gas
Heating Fuel: Natural Gas
Exterior Features: Sidewalks,Street Lights
Year Built: 1900
Structure: Other
New Construction: No
Total Units: 1
Built: 1900
Construction Material: Masonry
Security System: Carbon Monoxide Detector(s),Smoke Detector,Sprinkler System - Indoor,Fire Detection System,Main Entrance Lock
Architecture: Unit/Flat,Other
Pool/Private: No Pool
Pool: No Pool
Sewer: Public Sewer
Water Heat: Multi-tank
Lot Size: 2,178
Dimensions: 22.00 x 100.00
Lot Size (Acres): 0.05
Architectural Style: Unit/Flat,Other
Main Square Feet: 2,178
SQ ft: 6,300
SQ ft (Living Area): 6,300
Total Lot SQ ft: 2,178
View: City,Street,Scenic Vista
Subdivision: OLD CITY
Financing: Cash,Conventional,Other
Appx. Lot Dimensions: 22.00 x 100.00
Total Acreage: 0.05
New Construction: No
Type: Unit/Flat,Other
Possession: Immediate
Days Of Market: 2
Annual Tax: $11,919
Tax Year: 2022
Total Taxes Payment Frequency: Annually
Immediate
Taxes Assessment Amount: $851,500
Acceptable Financing: Cash,Conventional,Other
Direction: Coming from the south side of S 3rd St go straight and turn right to Market St. The property will be on the right, right after Citizens Bank.
School District: THE SCHOOL DISTRICT OF PHILADELPHIA
Water Source: Public
Sewer: Public Sewer
Cooling Fuel: Natural Gas
Heating Fuel: Natural Gas
Hot Water: Multi-tank
Location Type: Urban
Direction: Coming from the south side of S 3rd St go straight and turn right to Market St. The property will be on the right, right after Citizens Bank.
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
248 N Lawrence Street , Philadelphia, PA,19106 | $595,000 | -- | -- | 1,531 | 1531 Sqft |
604 S Washington Square.., Philadelphia, PA,19106 | $335,000 | 1 | 1.0 | 1,003 | -- |
3 N Columbus Boulevard .., Philadelphia, PA,19106 | $349,900 | 2 | 2.0 | 1,300 | -- |
513 Pine Street , Philadelphia, PA,19106 | $1,499,000 | 6 | 4.0 | 3,194 | 1404 Sqft |
314 N Lawrence Street , Philadelphia, PA,19106 | $650,000 | 3 | 1.5 | 1,343 | 864 Sqft |
241 S 6th Street #PH25.., Philadelphia, PA,19106 | $2,250,000 | 2 | 2.5 | -- | -- |
50 N Front Street #102, Philadelphia, PA,19106 | $250,000 | 1 | 1.0 | 925 | -- |
231 Spruce Street , Philadelphia, PA,19106 | $1,899,000 | 5 | 2.5 | 2,287 | 1376 Sqft |
423 Pine Street #2, Philadelphia, PA,19106 | $475,000 | 2 | 2.5 | 745 | -- |
124 N 2nd Street #2, Philadelphia, PA,19106 | $1,800,000 | 4 | 4.5 | 2,745 | -- |
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ByOwner last updated this listing 05/04/2024 @ 06:51
MLS: PAPH2343996
LISTED BY: Maria Maria Quattrone Quattrone , RE/MAX @ HOME
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 3%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.