1201 N 3rd St - Storefront Retail/Residential FOR SALE


Philadelphia, PA 19122- Olde Kensington
$1,250,000 USD
267-357-8057
1201 N 3rd St, Philadelphia, PA for Sale
$1,250,000 USD
Storefront Retail/Residential - FOR SALE
1/16
null | 5.96% Cap Rate

1201 N 3rd St
Philadelphia, PA 19122
Olde Kensington


HIGHLIGHTS

  • This highly-visible corner is a signalized intersection
  • The mixed-use triplex features 78’ frontage along Girard Avenue and 18’ on 3rd Street.
  • Girard Avenue is one of the main commercial corridors in Northern Liberties and counts 15,000 vehicles per day.
  • The building had a full gut rehab in 2017 and received a ten year tax abatement that expires at the end of 2028.
  • The storefront features floor-to-ceiling glass windows with high-energy efficiency glass.

OVERVIEW

MPN Realty is proud to bring to market the mixed use corner of 3rd and Girard, home to The UPS Store and two residential units. This highly-visible corner is a signalized intersection and offers tremendous exposure to the ground floor retail tenant and abundant light to the units above. The mixed-use triplex features 78’ frontage along Girard Avenue and 18’ on 3rd Street. Girard Avenue is one of the main commercial corridors in Northern Liberties and counts 15,000 vehicles per day. The building had a full gut rehab in 2017 and received a ten year tax abatement that expires at the end of 2028. The UPS Store leases 1,000 SF on the ground floor plus 900 SF of basement space. This is a franchisee signed lease and is in Year 7 of their 10-year base term with (2) five-year renewal options. UPS is responsible for 52% of insurance and taxes, as well as 52% of the other usual triple-net charges (utilities, snow removal, maintenance, water/sewer, trash tax, etc.). The storefront features floor-to-ceiling glass windows with high-energy efficiency glass, with a very low solar heat gain co-efficiency rating. On the upper floors are (2) two-bedroom/one-bath units with an open kitchen and living space. Each unit has its own washer and dryer, stainless steel appliances, granite countertops, white subway tile backsplash and double vanities in the bathroom. This building offers an excellent opportunity to own a stabilized asset in a growing neighborhood.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$321 USD /SF

CAP RATE

5.96%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

North Point

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,307 SF

ZONING

CMX2

APN/PARCEL ID

871402865

ASK ABOUT THIS PROPERTY

Veronica BlumMPN RealtyMore Info
267-357-8057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Veronica BlumMPN RealtyMore Info
267-357-8057

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.