Remarks

This prime 1.8-acre site offers an incredible opportunity for developers, with the potential to build 162 residential units by right under CMX-2 zoning. The property currently features a 7,760 Sq/Ft single-story building and a gated lot with 83 surface parking spaces, all of which are leased under a Triple Net Lease generating $130,000 in annual rental income, with annual increases. Additionally, the site generates an extra $10,000 in annual billboard revenue.

The lot dimensions are 371 x 200 feet, with a total size of 78,610 sq. ft. (1.8 acres). The property is ideally located in the bustling Frankford neighborhood, offering convenient access to I-95, the Betsy Ross Bridge, and US Route 1.

The property is also well-connected with excellent transit options, boasting a Walk Score of 83, Transit Score of 64, and Bike Score of 66. It’s just a short walk to the MFL Frankford TC to 69th Street TC at the Erie Torresdale Station.

Nearby parks include Frankford Park, Harrowgate Park, and Gates Park, making this an excellent location for future residential development. This is a rare opportunity for a buyer or investor to take advantage of a well-located, income-generating property with significant development potential.

Don’t miss out on this exceptional investment opportunity!

Details

MLS#: PAPH2421996
Price: $3,000,000

Year Built: 1955

County: PHILADELPHIA
Subdivision: Frankford
Tax Fee: 24847.0