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Asking Price - $1,250,000
Days on Market - 13
246 Market Street
Old City
Philadelphia, PA 19106
Featured Agent
EveryHome Agent
Asking Price
$1,250,000
Days on Market
13
# of Units
1
Acres
0.05
Interior SqFt
6,300
Age
124
Heating
Natural Gas
Cooling
Central A/C
Water
Public
Sewer
Public
Garages
0
Taxes (2022)
11,919
Additional Details Below
EveryHome Agent
Views: 23
Featured Agent
EveryHome Realtor
Description
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!
Location
Driving Directions
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.
Listing Details
Summary
Architectural Type
•Unit/Flat
Exterior Features
Lot Features
•Road Frontage
Exterior Features
•Sidewalks, Street Lights, Masonry
Utilities
Cooling
•Central A/C, Natural Gas
Heating
•Heat Pump(s), Natural Gas
Miscellaneous
Lattitude : 39.949860
Longitude : -75.145523
MLS# : PAPH2343996
Views : 23
Listing Courtesy: Maria Quattrone of RE/MAX @ HOME
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Notes
Page: © 2024 EveryHome, Realtors, All Rights Reserved.
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 Bright MLS, Inc.
Presentation: © 2024 EveryHome, Realtors, All Rights Reserved. EveryHome is licensed by the Pennsylvania Real Estate Commission - License RB066839
Real estate listings held by brokerage firms other than EveryHome are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale.
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