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West Philadelphia Opportunity Zone: 35' X 83' Corner, commercial building (CMX-2) two story building and full basement, built on the entire lot line in West Philly with construction going up in every direction and a variety of new businesses, one block from the 52nd street El entrance. The second floor has multiple entries to the street level. The price is for the property and equipment, not the liquor license. The current use is a bar and restaurant. Past use of the second floor was a boutique lounge, having multiple entrances to the street level. The owner is willing to sell with the liquor license at an additional cost. The occupancy as a bar/restaurant is 285 patrons on the 1st floor, 224 on the 2nd for a total of 509 people. One of the largest capacities in this area. The bar has been in business for 20 years including a license for takeout service. Modern kitchen with huge exhaust system and all electric cooking appliances is included in the property sale. POTENTIAL IF PURCHASING THE LIQUOR LICENSE: 1) expand the first-floor pub to include more seating and unique cuisine restaurant. 2) Use the second floor as a specialty lounge. 3) Rent as catering hall for weddings, banquets and meetings. POTENTIALS WITHOUT THE LIQUOR LICENSE: 1) Add height to the building for five stories and use it for residential unit income. 2) Tear down and new build, using CMX-2 to build on the entire footprint. Please note, Buyers need to do their own due diligence for any future development plans and the statements here are only suggestions only verification of the potential uses.
| DAYS ON MARKET | 62 | LAST UPDATED | 12/8/2024 |
|---|---|---|---|
| TRACT | WEST PHILADELPHIA | YEAR BUILT | 1925 |
| COMMUNITY | 19139 (19139) | COUNTY | PHILADELPHIA |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Dec 8, '24 | $1,150,000 |
|---|---|
| Dec 8, '24 - Today | $990,000 |
| ADDITIONAL DETAILS | |
| APPLIANCES | Electric Water Heater |
|---|---|
| AREA | 19139 (19139) |
| CONSTRUCTION | Frame |
| HEAT | Electric |
| LOT | 3049 sq ft |
| LOT DIMENSIONS | 35.00 x 83.00 |
| SEWER | Public Sewer |
| SUBDIVISION | WEST PHILADELPHIA |
| TAXES | 5194 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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