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The 19th Just South of Market Building 23-25 S 19th St

6,000 SF 67% Leased Retail Building Philadelphia, PA 19103 $3,250,000 ($542/SF)

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Investment Highlights

Rittenhouse Square has become widely considered as one of the finest urban public spaces in the United States.
High-rise residences, luxury apartments, an office tower, popular restaurants and retail stores surround this tree-filled park.
Rittenhouse Square continues to add more density and foot traffic.

The park square is nested in the middle of Philadelphia’s Center City District.
The Rittenhouse Square neighborhood is the premier dining and shopping neighborhood in downtown Philadelphia.

Executive Summary

MPN Realty, Inc., is proud to exclusively present for sale the property located at 23-25 South 19th Street, the corner of South 19th and Ludlow Street. 23-25 South 19th Street consists of two parcels and one building, with approximately 5,800sf, over three floors and a lot area of 2,880sf. The ground floor consisting of two commercial spaces each +/- 1,000sf and additional basement space. Originally a 2,000sf dry cleaning location the space was demised in 2017 and two units created. Due to the nature of the use, ownership had a Phase II environmental site assessment done at that time, which provided a clean assessment with no need for reporting or remediation. The two units are now occupied by Healthy Picks Deli on the corner and Ye Old Cleaners and Taylor in the inline space. A stairway on the south side
of the property leads to the upper floors. The 2nd floor office space has been occupied by Creative Realty since 2018, and they have just extended their lease for an additional year till June 2024. The residential units consist of one studio and two/ 1 bedroom units on the 2nd and 3rd floors.

23-25 S 19th Street (js)

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront Retail/Office

Building Size

6,000 SF

Building Class

Year Built/Renovated

1890/1998

Price

$3,250,000

Price Per SF

$542

Percent Leased

67%

Tenancy

Multiple

Building Height

3 Stories

Building FAR

2.75

Lot Size

0.05 AC

Zoning

CMX-5 - primarily intended to accommodate active, pedestrian-friendly retail and service uses in commercial nodes and along commercial corridors.

Frontage

35 FT on 19th St

Space Availability

1st Floor
1,000 SF
Retail
-
Now

1,000sf ground floor retail plus lower level Suggested Uses include Salon, Med Spa, Light Fitness, Yoga Studio, Jeweler, Boutique Apparel & Custom Clothing

2nd Floor
1,000 SF
Retail
-
Now

» 1,000 +/- SF 2nd Floor office / retail space » Features main shared space, 2 private offices, 1 bathroom, and kitchenette » Suggested uses include salon, med spa, light fitness, yoga studio, office, jeweler, boutique, and apparel. » Located next to the new 252-room Motto Hotel by Hilton » Zoning CMX-5