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246 Market Street

PHILADELPHIA, PA 19106
  • $1,250,000
  • STATUS: Active
  • ON SITE: 54 Days
  • MLS #: PAPH2343996
$1,250,000
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,300
    SQFT
  • $198
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1900
County:

School Ratings & Info

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!

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www.chesapeakebayproperties.com/homes/149767093
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246 Market Street PHILADELPHIA, PA 19106

  • Price: $1,250,000
  • Status: Active
  • On Site: 54 Days
  • MLS #: PAPH2343996
0
Beds
0
Baths
0
½ Baths
0.05
Acres
6,300
SQFT
$198
$/SQFT
1900
Built
Neighborhood:
Old City
County:
Philadelphia
Area:
19106 (19106)
School District:
The School District Of Philadelphia
Property 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!
Exterior Features

Architectural Style Unit/FlatOther Construction Materials Masonry Exterior Features SidewalksStreet Lights Garage YN No Location Type Urban Lot Features Road Frontage Parking Types On Street Pool No Pool Property Condition Very Good View CityStreetScenic Vista Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 6300 Basement Fully Finished Basement YN Yes Cooling Central A/C Fireplace YN No Heating Heat Pump(s) Heating YN Yes Security Features Carbon Monoxide Detector(s)Smoke DetectorSprinkler System - IndoorFire Detection SystemMain Entrance Lock Single Room Units 0 Spa YN No Three Bedroom Units 0 Two Bedroom Units 0

Property Features

Acceptable Financing CashConventionalOther Accessibility Features None Central Air YN Yes Cooling Fuel Natural Gas Cross Street S 3rd St Heating Fuel Natural Gas Historic YN No Hot Water Multi-tank Municipality PHILADELPHIA Navigable Water YN N New Construction YN No Number Of Units Total 1 Original MLSNumber 802998807046 Ownership Interest Fee Simple Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Other Tax Annual Amount 11919.00 Tax Lot 11 Vacation Rental YN No Water Source Public Zoning CMX-3

 
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