221 Chestnut St - Office FOR SALE


Philadelphia, PA 19106- Old City
$2,500,000 USD
856-889-0913
221 Chestnut St, Philadelphia, PA for Sale
$2,500,000 USD
Office - FOR SALE
1/2
null | Request Cap Rate

221 Chestnut St
Philadelphia, PA 19106
Old City


HIGHLIGHTS

  • The property features a five-story, 12,000SF office building in the Heart of Old City.
  • Property boasts high ceilings, floor to ceiling windows, exposed wood beams and an elevator.
  • Unique opportunity for an owner user to occupy this office building; flexible leases allow for phased growth with the other occupied floors producing
  • Currently 80% occupied with short-term leases, the building offers an excellent opportunity to convert the building into highly sought after apartment
  • The property is within a short walk to SEPTA and PATCO.
  • Building is being offered at $2,500,000.

OVERVIEW

The property totals approximately 12,000 square feet and is comprised of 8,000 square feet of office space (floors 2-5), 2,000 square feet of ground floor retail, with an additional 2,000 square feet of basement space within the highly sought after Old City Market. Currently 80% occupied with short-term leases, the building offers and excellent opportunity to convert the building into highly sought after apartments which is allowed by CMX-3 zoning. Building is being offered at $2,500,000.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$208 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Landreth Bldg

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1860

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

C3

APN/PARCEL ID

883300800

ASK ABOUT THIS PROPERTY

Brian BernetichSSH Real EstateMore Info
856-889-0913

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Brian BernetichSSH Real EstateMore Info
856-889-0913

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