Twitter
Facebook
Email
|
Rare opportunity to acquire an approved CMX-5 mixed-use development site in a premier Center City location near Rittenhouse Square. The approved project consists of a 7-story mixed-use building containing approximately 17,010.5 gross square feet, including: 26 residential units 21 studio apartments and 5 one-bedroom apartments Approximately 1,450 square feet of ground-floor commercial space Elevator service Bicycle storage Two exit stairs Front and rear access Basement utility and storage areas Roof deck and roof-deck access structure Rear parking or loading area, subject to the approved plans Major zoning and historic-review approvals have been completed, substantially reducing entitlement risk and potentially saving the next owner significant time and expense. Architectural and MEP plans are currently being finalized. The property is presently improved with an existing modern two-story brick building and four parking spaces. Estimated market rent is approximately $5,800 per month for the ground-floor commercial space and $4,300 per month for the second floor, providing combined estimated rental income of approximately$10,100 per month, or $121,200 annually, before expenses and subject to buyer verification. A buyer may continue operating the existing income-producing property while finalizing plans, permits, and financing, or proceed with construction of the approved development. Ideally situated in one of Philadelphia's strongest rental and lifestyle corridors, the property is steps from Rittenhouse Square, Avenue of the Arts, Broad Street, Jefferson University and Jefferson Hospital, Pennsylvania Hospital, Washington Square West, Midtown Village, restaurants, shopping, offices, public transportation, and major Center City employers. This offering is well-suited for developers, investors, builders, boutique multifamily operators, and buyers seeking a highly visible, approved project in a premier Philadelphia location. The sale includes available zoning drawings, architectural plans, floor plans, elevations, massing materials, approvals, and due-diligence information upon request. An exceptional opportunity to acquire an approved Center City development site with substantial existing income potential and the flexibility to hold, lease, or begin construction.
| DAYS ON MARKET | 2 | LAST UPDATED | 8/4/2026 |
|---|---|---|---|
| YEAR BUILT | 1981 | COMMUNITY | 19102 (19102) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | PHILADELPHIA CITY |
|---|
| PRICE HISTORY | |
| Prior to Jul 24, '26 | $1,590,000 |
|---|---|
| Jul 24, '26 - Jul 28, '26 | $1,570,000 |
| Jul 28, '26 - Jul 31, '26 | $1,549,000 |
| Jul 31, '26 - Aug 4, '26 | $1,519,000 |
| Aug 4, '26 - Today | $1,518,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater |
| AREA | 19102 (19102) |
| HEAT | Central, Natural Gas |
| LOT | 2614 sq ft |
| LOT DIMENSIONS | 22.00 x 117.00 |
| PARKING | Parking Lot |
| SEWER | Public Sewer |
| TAXES | 11548 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
P
I
*Estimate only
| SATELLITE VIEW |
| / | |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Todd
Stonesifer to contact you even if your name is on a Federal or State
"Do not call List".
Listing provided by Philly Real Estate
All information provided is deemed reliable but is not guaranteed and should
be independently verified. No reproduction, distribution, or transmission of the
information at this site is permitted without the written permission from the MLS
Participant.
IDX information is provided exclusively for consumer’s personal,non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
This IDX solution is (c) Diverse Solutions 2026.