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5501-9 Walnut Street

PHILADELPHIA, PA 19139
  • $1,000,000
  • STATUS: Active
  • ON SITE: 182 Days
  • MLS #: PAPH2089826
$1,000,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

Investor Alert! 10 Cap Development opportunity on high traffic commercial corridor. This rare development opportunity is in an up and coming area of West Philadelphia. This is an enormous corner property ripe for development and located right near the 56th St Terminal for the Market Frankford Train Line, 2.5 miles from 30th St Station and I-76 entrance. The property is currently being used as an auto repair shop which has a 7,494 Sq/Ft lot with a 1,815 Sq/Ft Garage/Office zoned CMX-2.By right you are able to build:Gross Square footage: 23,980 Sq/Ft Total Units: 15 unitsTotal Acquisition and Construction: Purchase Property: $1,000,000Total Soft Cost: $50,000Total Project Costs: $2,697,750Total Acquisition and construction: $3,747,750Cap Rate on Cost: Net Income: $390,597.46Total Acquisition and construction: $3,747,750Capitalization Rate of Return on Cost: 10.422%

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www.marylandshoreliving.com/homes/127167699
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5501-9 Walnut Street PHILADELPHIA, PA 19139

  • Price: $1,000,000
  • Status: Active
  • On Site: 182 Days
  • MLS #: PAPH2089826
0
Beds
0
Baths
0
½ Baths
0.17
Acres
Neighborhood:
19139 (19139)
County:
Philadelphia
Area:
19139 (19139)
School District:
The School District Of Philadelphia
Property Description
Investor Alert! 10 Cap Development opportunity on high traffic commercial corridor. This rare development opportunity is in an up and coming area of West Philadelphia. This is an enormous corner property ripe for development and located right near the 56th St Terminal for the Market Frankford Train Line, 2.5 miles from 30th St Station and I-76 entrance. The property is currently being used as an auto repair shop which has a 7,494 Sq/Ft lot with a 1,815 Sq/Ft Garage/Office zoned CMX-2.By right you are able to build:Gross Square footage: 23,980 Sq/Ft Total Units: 15 unitsTotal Acquisition and Construction: Purchase Property: $1,000,000Total Soft Cost: $50,000Total Project Costs: $2,697,750Total Acquisition and construction: $3,747,750Cap Rate on Cost: Net Income: $390,597.46Total Acquisition and construction: $3,747,750Capitalization Rate of Return on Cost: 10.422%
Exterior Features

Garage YN No Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Property Features

Assessment Year 2022 Association YN No Central Air YN No Construction Completed YN No Current Use Auto Dealer/Service Municipality Philadelphia Navigable Water YN N Original MLSNumber 801377865240 Ownership Interest Fee Simple Possession Immediate Property Sub Type Land Sale Type Standard Sewer Public Septic Tax Annual Amount 1300.00 Tax Assessment Amount 92900.00 Vacation Rental YN No Water Source Public Zoning Cmx2

 
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