1422-26 Locust Street #PARKING - Academy House Parking/Garage
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1422-26 Locust Street #PARKING - Academy House Parking/Garage
83,026 SF Specialty Building Offered at $6,000,000 in Philadelphia, PA 19102
Investment Highlights
- Exceptional investment opportunity.
- Extensive upgrades completed.
- Center City/Rittenhouse Square/Avenue of the Arts.
Executive Summary
For Sale: (Fee simple) ?319+ Parking Spaces ?(18.8k per space) at? the Academy House Garage located on the 15th Street garage entrance at 1422-26 Locust Street, Philadelphia. Exceptional investment opportunity in the heart of Center City/Rittenhouse Square. This secure, monitored garage offers convenience and safety, ensuring peace of mind for ?monthly tenants, daily business professionals and theatre goers. With more and more residential development, parking is becoming scarce and in demand and the Academy House Parking offers convenience to key destinations in Philadelphia's Avenue of The Arts "The Intersection of Everything"!
Secure Facility: The parking garage security measures include surveillance cameras and 24/7 on-site personnel ensuring the safety of vehicles? and customers.
Recently reopened after extensive upgrades this incredible opportunity for growth in monthly tenants, daily customers, and strategic partnerships with the Academy of Music, Kimmel Center, Suzanne Roberts Theatre and more.
Secure Facility: The parking garage security measures include surveillance cameras and 24/7 on-site personnel ensuring the safety of vehicles? and customers.
Recently reopened after extensive upgrades this incredible opportunity for growth in monthly tenants, daily customers, and strategic partnerships with the Academy of Music, Kimmel Center, Suzanne Roberts Theatre and more.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,300,000
|
$15.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,300,000
|
$15.66
|
| Taxes |
$89,587
|
$1.08
|
| Operating Expenses |
$810,000
|
$9.76
|
| Total Expenses |
$899,587
|
$10.84
|
| Net Operating Income |
$400,413
|
$4.82
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $1,300,000 |
| Annual Per SF | $15.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $1,300,000 |
| Annual Per SF | $15.66 |
| Taxes | |
|---|---|
| Annual | $89,587 |
| Annual Per SF | $1.08 |
| Operating Expenses | |
|---|---|
| Annual | $810,000 |
| Annual Per SF | $9.76 |
| Total Expenses | |
|---|---|
| Annual | $899,587 |
| Annual Per SF | $10.84 |
| Net Operating Income | |
|---|---|
| Annual | $400,413 |
| Annual Per SF | $4.82 |
Property Facts
| Price | $6,000,000 | Lot Size | 0.70 AC |
| Price Per SF | $72 | Building Size | 83,026 SF |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Specialty | Year Built/Renovated | 1977/2024 |
| Property Subtype | Parking Garage | Cross Streets | 15th |
| Building Class | C |
| Price | $6,000,000 |
| Price Per SF | $72 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Parking Garage |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 83,026 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1977/2024 |
| Cross Streets | 15th |
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Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (87)
zoning
| Zoning Code | CMX-5 (zoning in Philadelphia allows for high-density, mixed-use development, combining residential, commercial, and institutional uses.) |
| CMX-5 (zoning in Philadelphia allows for high-density, mixed-use development, combining residential, commercial, and institutional uses.) |
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1422-26 Locust Street #PARKING - Academy House Parking/Garage
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