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Public Remarks: 718 Chestnut Street presents a rare opportunity to own a premier mixed-use property in the heart of Philadelphia's historic Old City/Center City East district. Offered at $3,291,500, this high-profile building is located along one of the city's most iconic commercial corridors, surrounded by world-class dining, shopping, cultural landmarks, and transit options. Zoned CMX-5 (Commercial Mixed-Use - highest density in Philadelphia), the property allows for maximum development flexibility including retail, restaurant, office, hotel, cultural, and multi-family residential uses. With no maximum height and generous FAR allowances, this site is ideally suited for investors, developers, and end-users seeking a flagship location in Philadelphia's urban core. Highlights: Prime location between 7th & 8th Streets, steps from Independence Hall, the Liberty Bell, Washington Square, and Jefferson/PA Hospital. Walking distance to public transportation, including the Market-Frankford Line (8th & Market Station) and multiple SEPTA bus routes. High-visibility frontage along Chestnut Street with steady foot and vehicle traffic. Surrounded by thriving retail, dining, and entertainment destinations in Old City and Center City. Flexible CMX-5 zoning enabling significant redevelopment or repositioning potential. Whether repositioned as a flagship retail space, redeveloped into luxury residential units, or transformed into a mixed-use tower, 718 Chestnut Street offers unmatched visibility, density, and long-term upside in one of the nation's most historically significant and economically vibrant urban neighborhoods.
| DAYS ON MARKET | 2 | LAST UPDATED | 8/18/2025 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | 19106 (19106) |
| COUNTY | PHILADELPHIA | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | PHILADELPHIA CITY |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Gas |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| AREA | 19106 (19106) |
| GARAGE | Yes |
| HEAT | Forced Air, Natural Gas |
| LOT | 3485 sq ft |
| LOT DIMENSIONS | 23.00 x 145.00 |
| PARKING | On Street, Garage, Parking Lot |
| SEWER | Septic Tank, Public Sewer |
| TAXES | 35287 |
| WATER | Public |
| ZONING | CMX-5: Highest-density mixed-use zoning in Philadelphia, allowing unlimited height, retail, office, |
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