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$ 4,695,000
Est. payment | /mo
10,600 SqFt
$ 4,695,000
Est. payment | /mo
10,600 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 10,600 sqft
Price per Sqft $442
Subdivision Fishtown
MLS Listing ID PAPH2432498
Originating Board BRIGHT
Year Built 2024
Annual Tax Amount $11,134
Tax Year 2024
Lot Size 3,239 Sqft
Acres 0.07
Lot Dimensions 20.00 x 122.00
Property Description
Select Commercial Advisors is pleased to present the opportunity to acquire a turnkey 6.0% cap rate multifamily asset with a 10-year tax abatement in Fishtown, featuring 9 luxury residential units and 1 commercial space located on a prime, high-visibility corner of bustling Frankford Avenue. Acquire this high-quality, low-maintenance, new-construction property designed by Ambit Architecture and built by Grit Construction. Delivered 100% leased, the property offers both steady cash flow and strong future upside driven by the rapidly-developing Fishtown/Northern Liberties submarket. Ownership has secured an attractive triple-net commercial lease on a ten year term with Taylor Chip for the 1,650 square foot ground floor retail space. As new construction deliveries in this submarket slow down over the next 1-2 years, demand is expected to outpace supply, driving further rental growth in this vibrant and rapidly appreciating neighborhood. This is a unique opportunity for investors to acquire a high-quality, income-producing asset and capitalize on a growing market with significant long-term upside. Contact listing agent for full offering memorandum.
Location
State PA
County Philadelphia
Area 19125 (19125)
Zoning CMX2
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction Y
Schools
School District Philadelphia City
Others
Tax ID 183050100
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by Samantha Lee Miller • Select Commercial Advisors