Skip To Content

5452-56 Walnut Street

PHILADELPHIA, PA 19139
  • $1,250,000
  • STATUS: Active
  • ON SITE: 131 Days
  • ID#: PAPH2303548
$1,250,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1925
County:

School Ratings & Info

Description

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! ||

Monthly Payment Calculator



©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Gregory Gray | ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-04-03T23:52:46.143.
www.gregorygrayrealty.com/homes/145906950
Print Image

5452-56 Walnut Street PHILADELPHIA, PA 19139

  • Price: $1,250,000
  • Status: Active
  • On Site: 131 Days
  • ID#: PAPH2303548
0
Beds
0
Baths
0
½ Baths
0.25
Acres
1925
Built
Neighborhood:
Cobbs Creek
County:
Philadelphia
Area:
19139 (19139)
School District:
The School District Of Philadelphia
Property Description
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! ||
Exterior Features

Construction Materials Masonry Garage YN No Location Type Urban Lot Features Corner Parking Types On Street Property Condition Major Rehab Needed Riparian Rights YN No Road Surface Type Paved Roof RubberHip Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 21390.00 Cooling None Flooring ConcreteWood Heating None Net Square Feet 21309.00

Property Features

Acceptable Financing CashConventionalIndustrial Development Authority Accessibility Features None Assessment Year 2023 Business Type Apartment BuildingOther/General RetailSupermarket/Grocery StoreStorageWarehouseFlex Central Air YN No Cooling Fuel None Cross Street 55th ST Electric 200+ Amp Service Elevators 0 Foundation Details Stone Heating Fuel Oil Hot Water None Internet Services Cable Lease Considered YN No Municipality PHILADELPHIA Navigable Water YN N New Construction YN No Number Of Units Total 4 Original MLSNumber 802767437386 Ownership Interest Fee Simple Possession 31-60 Days CD Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 11197.00 Tax Assessment Amount 799900.00 Tax Lot 3029 Utilities Electric AvailableNatural Gas AvailableCable TV AvailableWater Available Vacation Rental YN No Water Source Public Zoning CMX2 Zoning Description Mixed Use Commercial

Listing courtesy of KW Empower: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Gregory Gray | ExecuHome Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-04-03T23:52:46.143.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802767437386-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802767437386-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_802767437386-2.jpg
Logo
Gregory Gray | ExecuHome Realty
8827 Columbia 100 Pkwy Suite 5
Columbia MD, 21045