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PRICE $3,000,000 SIZE 7,864 sqft LOT SIZE 2,178 sqft Request More Info Schedule a Showing

Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in 1118 Walnut (the "Property" or "Asset"). The Property is a 10,000-square-foot commercial building zoned CMX-4 in the Midtown Village neighborhood of Philadelphia. This section of Center City is the most institutionally invested area in all of Urban Philadelphia. The East Market Project, culminating with the construction of the Thomas Jefferson Special Care Pavilion, marks over $1B invested in the surrounding blocks. The Property is directly East of Rittenhouse Square and one block from Jefferson University Hospital, positioning it to be redeveloped for a multitude of uses. 1118 Walnut is ripe for repositioning. The street retail space could feature anything from food service to retailers. The upper floors are elevator-served and could host any business that is looking for proximity to Ed's and Med's, but does not need street-level exposure. The fourth-floor two-bedroom apartment is a full-floor apartment and offers a penthouse-like feel with vaulted ceilings and direct elevator access into the unit. The Property's upper levels could also be developed into apartment units, while leaving the street retail for a commercial tenant. Essentially, 1118 Walnut is a blank canvas with permissive zoning, historic charm, and a prime location. The Asset is located minutes from major thoroughfares such as I-76, I-676, and I-95, providing unparalleled access to the Philadelphia MSA. It is also transit-oriented to allow tenants access to public transportation via the 11th Street Station on the Market-Frankford Line, as well as numerous bus and trolley stops carrying commuters throughout the Philadelphia Region.