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Listing Details

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School Ratings & Info

Description

The sale of 12 N 3rd Street is an excellent redevelopment opportunity located in historic Old City. This opportunity is a five-story building with a building area of 7,000 SF +/-. The building has approximately 26+GG of frontage on N. 3rd Street. The seller has plans for a mixed-use building, featuring (1) commercial space and (4) 2 bed/ 2 bath apartments. The seller currently has a LOI with a short-term apartment rental company to master lease all of the residential units after the renovation is complete. Located in the Keystone Innovation Zone, the property is also ideal for a business looking for a new home. Located right off of Market Street, the property is located within a Keystone Innovation Zone which allows for certain business-based tax credits. It is exceptionally located in Old City with close proximity to many restaurants, cafes, commercial and residential developments, and historic sites. This property is zoned CMX-3 with various additional Center City overlay requirements. Approved by-right uses include a wide-range of residential and commercial options. The building resides within the Old City Historic District and is listed as contributing on the historic register.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Paula Cashion | Keller Williams Central Delaware. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-09-18T11:55:19.427.
www.paulacashion.com/homes/120530706
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12 N 3RD Street PHILADELPHIA, PA 19106

  • Price: $1,795,000
  • Status: Active
  • Updated: 48 min ago
  • ID#: PAPH2021678
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1900
Built
Neighborhood:
Old City
County:
Philadelphia
Area:
19106 (19106)
School District:
The School District Of Philadelphia
Property Description
The sale of 12 N 3rd Street is an excellent redevelopment opportunity located in historic Old City. This opportunity is a five-story building with a building area of 7,000 SF +/-. The building has approximately 26+GG of frontage on N. 3rd Street. The seller has plans for a mixed-use building, featuring (1) commercial space and (4) 2 bed/ 2 bath apartments. The seller currently has a LOI with a short-term apartment rental company to master lease all of the residential units after the renovation is complete. Located in the Keystone Innovation Zone, the property is also ideal for a business looking for a new home. Located right off of Market Street, the property is located within a Keystone Innovation Zone which allows for certain business-based tax credits. It is exceptionally located in Old City with close proximity to many restaurants, cafes, commercial and residential developments, and historic sites. This property is zoned CMX-3 with various additional Center City overlay requirements. Approved by-right uses include a wide-range of residential and commercial options. The building resides within the Old City Historic District and is listed as contributing on the historic register.
Exterior Features

Construction Materials Masonry Garage YN No Parking Types None Property Condition Average Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 7000.00 Cooling Central A/C Heating Central Heating YN Yes Net Square Feet 7000.00

Property Features

Accessibility Features None Annual Gross Expense 34962.00 Assessment Year 2021 Association YN No Business Type OtherApartment BuildingDay Care FacilityHair Salon And SpaProfessionalRestaurant/Bar Central Air YN Yes Cooling Fuel None Cross Street Market Electric Expense 720.00 Elevators 1 Gross Income 189704.00 Heating Fuel Central Historic YN Yes Hot Water Natural Gas Insurance Expense 4500.00 Maintenance Expense 4000.00 Municipality Philadelphia Navigable Water YN N Net Operating Income 154742.00 New Construction YN No Number Of Units Total 0 Original MLSNumber 800959843104 Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Private Sewer Tax Annual Amount 13357.00 Tax Assessment Amount 954200.00 Tax Lot 91 Total Actual Rent 192000.00 Trash Expense 500.00 Utilities Other Vacation Rental YN No Water Source Public Zoning Cmx3

Listing courtesy of Mallin Panchelli Nadel Realty, Inc.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Paula Cashion | Keller Williams Central Delaware. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-09-18T11:55:19.427.
 
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Paula Cashion | Keller Williams Central Delaware
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Dover DE, 19901