8616-8618 Germantown Ave - Storefront Retail/Residential FOR SALE


Philadelphia, PA 19118
$5,000,000 USD
215-687-1022
8616-8618 Germantown Ave, Philadelphia, PA for Sale
$5,000,000 USD
Storefront Retail/Residential - FOR SALE
1/81
null | Request Cap Rate

8616-8618 Germantown Ave
Philadelphia, PA 19118


HIGHLIGHTS

  • 100% occupied and premier "top of the hill" location of Chestnut Hill. Highly visible intersection and artery through Philadelphia to NW suburbs

OVERVIEW

This unique opportunity isn't offered often. In fact, it has only had 2 owners in 70 years since known as "The Huston Dry Goods Emporium."  This is your chance to own a piece of Chestnut Hill History in THE premier "Top of the Hill" location! Positioned prominently at the intersection of Germantown Avenue & Bethlehem Pike gives it the highest exposure. This unique, multi use building of over 9,300 Sq Ft,  (circa 1860),  offers 4 apartments (3-2 BR, 1 -1 BR)  a large store front retail space, and two generous sized offices (+/- 1182 Sq Ft ea)  with private entrances in the rear annex building. (added 1922)  According to historical records,  its' green serpentine stone facade with stone sills and wood cornices, is shared by only one other building on Philadelphia.   Adding to its' convenient accessibility,  it sets atop the Chestnut Hill West Regional Rail line leading directly to Center City and 30th street.  Chestnut Hill is rich with a diverse offering of restaurants, local businesses, and homes ranging from cottages to mansions!  Chestnut Hill was featured as one of the charming residential neighborhoods on Good Morning America's "Main Street USA" series! All units are currently leased with staggered expirations.  Since current owner has historically kept lease rates low, the income is well below market value and  even well below a  conservative income projection! The location. is vibrant with a blend of modern amenities and historic gems, with  added appeal for its' proximity to Chestnut Hill Hospital, Chestnut Hill College, the beautifully expanding Woodmere Art Museum and the splendid Wissahickon Valley Park. This commercial corridor location allows open ended possibilities for significant  increased profitability. See attached statement sheet with lease and utility information.  As leases expire, this will allow a variety of alternative options for each unit.  It is your time approach this creatively and plant roots in this growing community.  Showings must be set through listing agent and bank can be shown only during banking hours. Dimensions and taxes are based on city records and may not be accurate. These should be verified by buyer.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$1,462 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1860

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,106 SF

ZONING

CMX1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Catherine DavisElfant Wissahickon Realtors, Inc.More Info
215-687-1022

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Catherine DavisElfant Wissahickon Realtors, Inc.More Info
215-687-1022

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