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Prime Redevelopment Opportunity in West Philadelphia's Walnut Street Corridor || Unlock the potential of this expansive corner commercial property located in the heart of West Philadelphia's Walnut Street corridor. As a Qualified Opportunity Zone (QOZ), this redevelopment gem offers savvy investors the chance to realize significant capital gains tax benefits while reshaping a prominent corner in the community. || Currently zoned CMX2 with a 38' height restriction, this property invites developers to reimagine its potential. Explore the possibilities of rezoning to CMX2.5 for an increased height of 55', providing added versatility in design and functionality. Whether adding extra levels or constructing an entirely new mixed-use facility, the canvas is yours to craft. || Capitalizing on eight 24" full-span ironwork girders, developers can elevate their projects with bonus height and density. A mixed-income housing plan not only enhances the property's appeal but also aligns with the community's needs, offering a compelling canvas for innovation in residential or business development. || Tailor the property to suit your preferred development model. Whether envisioning a mixed-use residential facility, food, and beverage retail sales, storage facility, food service-catering-commissary, day care center, learning center, or community center, the possibilities are vast. || Benefit from solid local traffic counts, excellent public transportation options, and easy access to Univ City and Center City. The property's strategic location enhances its appeal for a wide range of potential uses. || This development opportunity not only resides in a Qualified Opportunity Zone but is also eligible for a Philadelphia Tax Abatement and falls within a zone designated for New Market Tax Credit (NMTC). Investors can leverage these incentives to maximize returns and contribute to the growth of the community. || Review the property details, plan view, and photos at your convenience. Drive by for a firsthand look, and then connect with us for more information. Qualified buyers and serious interests are invited to express their interest. This motivated seller encourages you to seize this unique opportunity. Contact us today and bring your vision to life! ||
| DAYS ON MARKET | 155 | LAST UPDATED | 12/7/2023 |
|---|---|---|---|
| TRACT | COBBS CREEK | YEAR BUILT | 1925 |
| COMMUNITY | 19139 (19139) | COUNTY | PHILADELPHIA |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | 19139 (19139) |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 2.5 |
| HEAT | Oil |
| LOT | 0.25 acre(s) |
| LOT DESCRIPTION | Corner Lot |
| LOT DIMENSIONS | 69.00 x 155.00 |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | COBBS CREEK |
| TAXES | 11197 |
| UTILITIES | Cable Available, Natural Gas Available |
| WATER | Public |
| ZONING | Mixed Use Commercial |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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