5,000 SqFt
5,000 SqFt
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $98
MLS Listing ID PAPH2415020
Originating Board BRIGHT
Year Built 1925
Annual Tax Amount $2,017
Tax Year 2024
Lot Size 4,972 Sqft
Acres 0.11
Lot Dimensions 89.00 x 111.00
Property Description
Introducing an exceptional investment opportunity: a roughly 5,000-square-foot warehouse for sale, just a block off Lancaster Ave and situated in a Qualified Opportunity Zone (QOZ)! This property is currently configured into eight spacious garage units, each rented out individually.
With tall overhead doors and impressive high ceilings, these large units offer plenty of room for a variety of uses. Presently, all units are leased on a month-to-month basis at significantly below-market rates. Current market rents hover around $700-800 per unit, translating to an impressive potential income of $67,200-76,800 per year!
Seize this amazing chance to elevate your investment strategy—either increase rents for immediate cash flow or vacate the building for your personal use, or mix and match both approaches!
But that's not all—you're also land banking a prime parcel in an up-and-coming neighborhood. With a new construction apartment complex already underway just two blocks away and a proposed 25-unit apartment building directly across the street, the growth potential for this area is undeniable.
Don't miss out on this fantastic opportunity to invest in a property with both immediate returns and long-term value!
Location
State PA
County Philadelphia
Area 19131 (19131)
Zoning CMX2
Interior
Hot Water None
Heating Baseboard - Electric
Cooling None
Flooring Concrete
Heat Source Electric
Exterior
Garage Spaces 28.0
Water Access N
Roof Type Flat
Accessibility >84\" Garage Door
Total Parking Spaces 28
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 442173000
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Exchange, Negotiable
Listing Terms Cash, Exchange, Negotiable
Financing Cash,Exchange,Negotiable
Special Listing Condition Standard
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