209-15-15 Fairmount Ave,PHILADELPHIA, PA 19123
PHILADELPHIA, PA 19123
Description
INVESTMENT PORTFOLIO- 2 CONTIGUOUS NORTHERN LIBERTIES PROPERTIES.Acquire two adjacent CMX-2.5-zoned assets in one of Philadelphia’s most coveted neighborhoodsa fully leased, mixed-use building plus a contiguous vacant lotat a combined, discounted 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 facilityfeaturing 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. 8-year Triple Net (NNN) lease through 12/31/2026, Stable tenant with well established Childcare center who is eager to renew. NOI $183,000. 705 N. American St. is a Vacant Lot | 2,539 SF Development Site, 2,539 SF of buildable land. Currently functions as parking/play yard under the 209-215 Fairmount Ave NNN lease (same term). CMX-2.5permits multi-story mixed-use redevelopment: luxury residential over ground-floor retail, boutique offices, flexible creative spaceCombined Redevelopment PotentialTotal 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 and green spaces 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.MLS Numbers: PAPH2452892 (Building) & PAPH2452904 (Vacant Lot).Showings are limited to evenings after 6 PM and weekends to accommodate the current tenant. 3D tour available for comprehensive review of the building.Bundle Bonus: Purchase both parcels together for a special combined price and maximize your return on investment in Northern Liberties.
Details
| MLS # | PAPH2482266 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1848 |
| Days On Site | 62 |
| Listing Provided By | Styer Real Estate | Jennifer Anne Gezon |
Features
| Story(s) | 2 |
|---|---|
| Units | 1 |
| Zoning | CMX2.5 |
| Acreage | 0.11 |
Interior
| Cooling | Central A/C, Window Unit(s) |
|---|---|
| Heating Yes / No | Yes |
| Heating | Hot Water, Forced Air |
Exterior
| Roof | Rubber |
|---|---|
| Security Features | Fire Detection System, Security System |
| Construction Materials | Brick, CPVC/PVC, Copper Plumbing, Cast Iron Plumbing, Masonry |
| Foundation Details | Stone, Brick/Mortar, Slab |
| Lot Features | Additional Lot(s) |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Paved Parking |
Utilities
| Utilities | Water Available, Sewer Available, Natural Gas Available, Electric Available |
|---|---|
| Sewer | Public Sewer |
| Electric | 200+ Amp Service |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 9798 |
| Tax Lot | 134 |
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Learn More About This Property
| State | PA |
|---|---|
| County | PHILADELPHIA PA |
| City | PHILADELPHIA |
| Zip Code | 19123 |
| Area | 19123 (19123) |
| Community Name | NORTHERN LIBERTIES |
| School District | PHILADELPHIA CITY |
