5,009 Sqft Lot
5,009 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Lot Size 5,009 Sqft
MLS Listing ID PAPH2482266
Financing Cash,Conventional,Exchange
Subdivision Northern Liberties
Total Units 1
Short Sale No
Originating MLS BRIGHT
Property Description
Acquire two adjacent CMX-2.5–zoned assets in one of Philadelphia's most coveted neighborhoods-Mixed-use building plus a contiguous vacant lot—at a combined price. Together they deliver stable income, immediate upside and premier redevelopment potential.
209-215 Fairmount Ave is an Iconic Mixed-Use 9700+ sq ft 2 level building with a 4500+ sq ft basement.
The building retains much of it's historic character. Originally constructed 1805–1848 as a church, later became a theatre, social club, workshop and is currently a childcare facility—featuring original ceiling murals and a repurposed stage. 18–20 ft ceilings and open-plan on both floors are ideal for flexible commercial or residential conversion. Long term Triple Net (NNN) lease. Stable tenant with well established Childcare center. NOI $183,000. Lease expires 12/26, with optional renewal.
705 N. American St. MLS# PAPH2452904 is a Vacant Lot - 2,539 SF of buildable land. Currently functions as parking/play yard under the 209-215 Fairmount Ave NNN lease (same term). CMX-2.5—permits multi-story mixed-use redevelopment: luxury residential over ground-floor retail, boutique offices, flexible creative space with the ability to build up to 4-5 stories high.
Combined Redevelopment Potential
Total Footprint of both properties is approximately 7,550 SF (5,009 SF building lot + 2,539 SF vacant parcel). Immediate cash flow from the building lease paired with blank-slate development land is ideal for a signature mixed-use project or phased conversion.
Northern Liberties walkable lifestyle means steps from premier restaurants, art galleries, nightlife, and community parks as well as being within walking distance to Penn's Landing and Old City. Easy access to transit & highways: Minutes to I-95 and I-676 on-ramps and adjacent to Market–Frankford Line station.
Showings are limited to evenings after 6 PM and weekends to accommodate the current tenant. 3D tour available for comprehensive review of the building.
Location
State PA
County Philadelphia
Area 19123 (19123)
Zoning CMX2.5
Interior
Hot Water Natural Gas
Heating Hot Water, Forced Air
Cooling Central A/C
Flooring Wood, Vinyl, Carpet, Tile/Brick
Inclusions Blower in basement
Heat Source Natural Gas
1-purchase type For Sale
Exterior
Garage Spaces 4
Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available
Waterfront N
Water Access N
Roof Type Rubber
Street Surface Black Top
Accessibility None
Road Frontage City/County
Parking Type On Street, Parking Lot
Total Parking Spaces 4
Building
Lot Description Additional Lot(s)
New Construction N
Foundation Stone, Brick/Mortar, Slab
Lot Dimensions 67.00 x 75.00
Sewer Public Sewer
Water Public
Schools
School District Philadelphia City
Others
Tax Amount $9,798
Tax Year 2024
Tax ID 882017730
Ownership Fee Simple
Security Features Fire Detection System,Security System
Acceptable Financing Cash, Conventional, Exchange
Special Sale Standard
