UPDATED:
08/25/2024 12:50 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 21,390 sqft
Price per Sqft $58
Subdivision Cobbs Creek
MLS Listing ID PAPH2303548
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $11,197
Tax Year 2024
Lot Size 10,785 Sqft
Acres 0.25
Lot Dimensions 69.00 x 155.00
Property Description
Unlock the potential of this expansive corner commercial property located in the heart of West Philadelphia's Walnut Street corridor. As a Qualified Opportunity Zone (QOZ), this redevelopment gem offers savvy investors the chance to realize significant capital gains tax benefits while reshaping a prominent corner in the community. ||
Currently zoned CMX2 with a 38' height restriction, this property invites developers to reimagine its potential. Explore the possibilities of rezoning to CMX2.5 for an increased height of 55', providing added versatility in design and functionality. Whether adding extra levels or constructing an entirely new mixed-use facility, the canvas is yours to craft. ||
Capitalizing on eight 24" full-span ironwork girders, developers can elevate their projects with bonus height and density. A mixed-income housing plan not only enhances the property's appeal but also aligns with the community's needs, offering a compelling canvas for innovation in residential or business development. ||
Tailor the property to suit your preferred development model. Whether envisioning a mixed-use residential facility, food, and beverage retail sales, storage facility, food service-catering-commissary, day care center, learning center, or community center, the possibilities are vast. ||
Benefit from solid local traffic counts, excellent public transportation options, and easy access to Univ City and Center City. The property's strategic location enhances its appeal for a wide range of potential uses. ||
This development opportunity not only resides in a Qualified Opportunity Zone but is also eligible for a Philadelphia Tax Abatement and falls within a zone designated for New Market Tax Credit (NMTC). Investors can leverage these incentives to maximize returns and contribute to the growth of the community. ||
Review the property details, plan view, and photos at your convenience. Drive by for a firsthand look, and then connect with us for more information. Qualified buyers and serious interests are invited to express their interest. This motivated seller encourages you to seize this unique opportunity. Contact us today and bring your vision to life! ||
Location
State PA
County Philadelphia
Area 19139 (19139)
Zoning CMX2
Interior
Hot Water None
Heating None
Cooling None
Flooring Concrete, Wood
Heat Source Oil
Exterior
Utilities Available Electric Available, Natural Gas Available, Cable TV Available, Water Available
Waterfront N
Water Access N
Roof Type Rubber,Hip
Street Surface Paved
Accessibility None
Garage N
Building
Lot Description Corner
Foundation Stone
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 882927950
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, Industrial Development Authority
Listing Terms Cash, Conventional, Industrial Development Authority
Financing Cash,Conventional,Industrial Development Authority
Special Listing Condition Standard
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