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This exceptional 1.8-acre property presents an outstanding opportunity for developers, offering the potential to construct 162 residential units by right under CMX-2 zoning. Currently, the site includes a 7,760 sq. ft. single-story building and a gated lot with 83 surface parking spaces. These are fully leased under a Triple Net Lease, generating $144,000 in annual rental income with scheduled yearly increases. The lease recently commenced with a five-year term, and the property also brings in an additional $10,000 annually from billboard revenue. With lot dimensions of 371 x 200 feet, totaling 78,610 sq. ft., this prime site is strategically located in the vibrant Frankford neighborhood. It offers seamless access to major roadways, including I-95, the Betsy Ross Bridge, and US Route 1. Public transportation is easily accessible, with a Walk Score of 83, a Transit Score of 64, and a Bike Score of 66. The property is just a short walk from the Erie-Torresdale Station on the MFL Frankford TC to 69th Street TC line. Surrounded by parks such as Frankford Park, Harrowgate Park, and Gates Park, this location is ideal for future residential development. This rare investment opportunity combines a well-positioned, income-producing asset with remarkable development potential. Don't miss your chance to capitalize on this prime real estate opportunity!
| DAYS ON MARKET | 72 | LAST UPDATED | 2/6/2025 |
|---|---|---|---|
| TRACT | FRANKFORD | YEAR BUILT | 1955 |
| COMMUNITY | 19124 (19124) | COUNTY | PHILADELPHIA |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| School District | THE SCHOOL DISTRICT OF PHILADELPHIA |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | 19124 (19124) |
| GARAGE | Yes |
| HEAT | Forced Air |
| LOT | 1.8 acre(s) |
| LOT DESCRIPTION | Corner Lot |
| LOT DIMENSIONS | 371.00 x 200.00 |
| PARKING | Private, Garage, Parking Lot, Driveway |
| SEWER | Public Sewer |
| SUBDIVISION | FRANKFORD |
| TAXES | 24847 |
| VIEW | Yes |
| VIEW DESCRIPTION | City, Street |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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