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5532-40 Chestnut Street

PHILADELPHIA, PA 19139
  • $3,999,000
  • STATUS: Active
  • ON SITE: 154 Days
  • ID#: PAPH2092700
UPDATED: 37 min ago
$3,999,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1960
County:

School Ratings & Info

Description

This remarkable 12,980 sq. ft double property is located in a Qualified Opportunity Zone, and the CMX2 zoning permits a wide variety of uses.+-+-The price per sq. ft for the entire lot is $308.+-+-If affordable housing incentives and the green roof bonus are applied, this property has the potential to be developed into a mixed-use site with up to 48 units. The current building is an active and successful auto and tag shop.+-+-It contains two offices with separate entrances, along with the main auto service area and three half bathrooms.+-+-The shop can easily hold eight cars, with a secure back lot that can store eight more.+-+-The attached 22 space parking lot also supports the business.+-+-The property passed Phase I and II environmental assessments in 2007. As an investment or development opportunity, this lot benefits from its close proximity to Penn and Drexel, as University City+GGs growth market consistently expands westward.+-+-Central to public transportation and the Septa Market-Frankford Line, it is also on the correct side of the street for easy access and pull-in from Chestnut Street.+-+-The immediate surrounding area is bustling with highly trafficked businesses such as Wendy+GGs, Rite Aid, the Fresh Grocer, and Dunkin+GG Donuts (all within a two block radius of the site.)+-+-This desirable location presents a rare opportunity for profitable development in what is already an established and thriving commercial corridor of the city.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dailey Group | Keller Williams Gateway. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-12T19:03:00.52.
www.thedaileygroup.com/homes/126587993
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5532-40 Chestnut Street PHILADELPHIA, PA 19139

  • Price: $3,999,000
  • Status: Active
  • On Site: 154 Days
  • Updated: 37 min ago
  • ID#: PAPH2092700
0
Beds
0
Baths
0
½ Baths
0.3
Acres
1960
Built
Neighborhood:
19139 (19139)
County:
Philadelphia
Area:
19139 (19139)
School District:
The School District Of Philadelphia
Property Description
This remarkable 12,980 sq. ft double property is located in a Qualified Opportunity Zone, and the CMX2 zoning permits a wide variety of uses.+-+-The price per sq. ft for the entire lot is $308.+-+-If affordable housing incentives and the green roof bonus are applied, this property has the potential to be developed into a mixed-use site with up to 48 units. The current building is an active and successful auto and tag shop.+-+-It contains two offices with separate entrances, along with the main auto service area and three half bathrooms.+-+-The shop can easily hold eight cars, with a secure back lot that can store eight more.+-+-The attached 22 space parking lot also supports the business.+-+-The property passed Phase I and II environmental assessments in 2007. As an investment or development opportunity, this lot benefits from its close proximity to Penn and Drexel, as University City+GGs growth market consistently expands westward.+-+-Central to public transportation and the Septa Market-Frankford Line, it is also on the correct side of the street for easy access and pull-in from Chestnut Street.+-+-The immediate surrounding area is bustling with highly trafficked businesses such as Wendy+GGs, Rite Aid, the Fresh Grocer, and Dunkin+GG Donuts (all within a two block radius of the site.)+-+-This desirable location presents a rare opportunity for profitable development in what is already an established and thriving commercial corridor of the city.
Exterior Features

Construction Materials Masonry Garage YN No Parking Features FencedPaved ParkingPrivateSecurity/Monitored Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 4000.00 Cooling Central A/C Heating 90% Forced Air Heating YN Yes Inclusions Vehicle Lifts. Buyer Also Willing To include Other Business Equipment With Negotiation. Net Square Feet 12980.00

Property Features

Acceptable Financing Cash Accessibility Features None Assessment Year 2022 Business Type Auto Related Central Air YN Yes Cooling Fuel Electric Electric 200+ Amp Service Heating Fuel Natural Gas Historic YN No Hot Water Electric Lease Considered YN No Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 1 Original MLSNumber 801394389322 Ownership Interest Fee Simple Possession Settlement Property Sub Type Land For Commercial Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 2530.00 Tax Assessment Amount 246500.00 Tax Lot 230 Vacation Rental YN No Water Source Public Zoning Cmx2

Listing courtesy of Keller Williams Realty Wilmington.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dailey Group | Keller Williams Gateway. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-08-12T19:03:00.52.
 
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