Fantastic opportunity priced to sell in the middle of exploding Frankford Avenue corridor. New construction all around. Millennials and developers are filling in every gap and storefront in this exciting and lively area of 24/7 live work play Fishtown. Zoned CMX 2 this property is currently a bank branch on the ground floor with offices on floors two and three. Zoning allows for another story addition by right. The highest and best use of this property is to add another story to the property and rehab resulting in three(3) large two(2)bed apartments on floors 2-4 and retail space on the ground floor. Pricing takes into consideration a generous rehab cost and immediate owners equity once rehab is complete. Basement is already over 7 foot clearance. Just apply for the permits and start adding equity! Make an offer now as this property is already receiving interest. Renovations will qualify property for a 10 year tax abatement. Proforma CAP Rate 7.5% based on renovations and 1 story addition.

  • MLS# PAPH803200
  • Style Industrial
  • Sub-Type Resale
  • Status Active
  • Year 1950
  • Days On Site 107
SQ Feet 3,200
Story(s) 0
Units 3
Zoning CMX2
Listing Provided By:
William Kilrain  of  American Heritage Realty
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
this listing $550,000
71.93%
$319,900 in 19125
this listing 3,200 SqFt
118.28%
1,466 SqFt in 19125
this listing $172 $/SqFt
21.24%
$218 $/SqFt in 19125
this listing 107 on site
177.92%
38.5 on site in 19125

Location

State PA
City PHILADELPHIA
Zip Code 19125
Area 19125 (19125)

Loading Form

Real Estate Links Our Domains