718 Chestnut St
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718 Chestnut St
9,555 SF Vacant Retail Building Philadelphia, PA 19106 $3,790,000 ($397/SF)
Executive Summary
Unlimited Potential is what all Investors will immediately see in this amazing 9600 Square Foot, 3 story building with a Fully Finished Basement. Located blocks from the New Market Street Revitalization Project even the 76’s Organization is considering a Move to this Up & Coming Area. The property was renovated from Top to Bottom in 2011-12 with the long list of upgrades including but not limited to New Walls, Floors and Staircases, New Electric, Plumbing and HVAC Systems and New Bathrooms. So much has been done to expedite getting a business or multiple businesses up and running in record time with minimal headaches at a huge savings. In addition, you will find an elevator for maximum convenience and sprinklers on all floors, including the basement level, for maximum safety. Once you see the interior layout your mind will be working overtime imagining all of the possibilities that this incredible property presents to you. The First Floor offers a Grand Reception area and kitchenette. On the Second Floor you find two Spacious Rooms with Hardwood Floors and High Ceilings. The Third Floor is a Possible Apartment Conversion to add to the Overall Value. Current Zoning is CMX-5 (Attached) which allows a variety of uses such as Retail, Office and some Residential. The Biggest Bonus could possibly be the Primo Location just one block from the Liberty Bell combining a Strong Sense of History balanced with Modern Day Convenience. Blocks from Major Historical Attractions, the City’s World Renowned Hospitals and Critically Acclaimed Restaurants your Existing or Start up Business will be Proud to be a Part of an Area that is quickly becoming “THE Place to Be”.
Underwriting Report and Zoning Attached
Underwriting Report and Zoning Attached
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
9,555 SF
Building Class
B
Year Built/Renovated
1900/2008
Price
$3,790,000
Price Per SF
$397
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.74
Lot Size
0.08 AC
Zoning
CMX5 - Commercial
Frontage
18 FT on Chestnut St
Amenities
- Bus Line
- Metro/Subway
- Signage
- Air Conditioning
Walk Score ®
Walker's Paradise (99)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (80)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 881301300 | Improvements Assessment | $2,268,810 |
Land Assessment | $252,090 | Total Assessment | $2,520,900 |
PROPERTY TAXES
Parcel Number
881301300
Land Assessment
$252,090
Improvements Assessment
$2,268,810
Total Assessment
$2,520,900
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Presented by
New Horizons Real Estate Inc
718 Chestnut St
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