Active

700-702 E Passyunk Ave

Philadelphia PA, 19147

$19,800,000


$227.88 per sqft

Active

86,886 sqft

Commercial

Built in 1930

This offering includes commercial, mixed-use buildings, warehouses, and off-street parking which in many aspects provides immense potential for redevelopment. With 24 residential units, 14 commercial suites, and a buildable CMX2 lot, this package is not only stabilized but also offers significant opportunities for value add and rent increases in the future. Situated in the heart of Queen Village, this prime location ensures a steady stream of foot traffic and a vibrant atmosphere. The neighborhood is renowned for its eclectic mix of businesses and its thriving community. Among the notable commercial tenants already in place are SWEAT Fitness, The Naked Peach, IN Movement, and the Queen Village Art Center. These established businesses not only contribute to the package's impressive gross income of $1,423,524 but also enhance the overall appeal and desirability of the properties. The commercial mixed-use buildings boast a versatile layout, allowing for a variety of business types to flourish. With their attractive facades and well-maintained interiors, these buildings are ready to accommodate the next wave of entrepreneurs and visionaries. The lot included in this package presents an exciting opportunity for development. Queen Village is a highly sought-after neighborhood, known for its strong rental market and consistent demand for commercial spaces. With the right vision and execution, this package has the potential to yield even greater returns in the future. Just a mile from Center City, a short distance from the Ben Franklin Bridge, I-95, public transit, Pennsylvania Hospital, Jefferson Hospital, and Olde City, this location is unmatched for a long-term investment.

PAPH2291458

MLS ID

February 18, 2024

Updated

Map

700-702 E Passyunk Ave
Philadelphia PA, 19147

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Window Unit(s)


Heating

Yes


Heating Description

Heat Pump, Forced Air, Natural Gas

Exterior/Building Features

Lot Size

0.29 Acres


Sewer

Public Sewer

Other Property Details

Area Name

PHILADELPHIA


Taxes

$21,927


Tax Frequency

Annually


Days on Market

77


Garage

No


Parking Total

10


View

No


County

PHILADELPHIA


Water Source

Public


Pool

No


Buyer Agency Compensation

2%

Listed by James F Roche Jr., Danielle M. Fiorelli with KW Empower
Listing Contact: 2157149539 

The IDX display contains information sourced from the Bright MLS, Inc. as of 2/18/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 2/18/2024 at 11:06 PM UTC

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