For Sale
$1,480,000

246 59Th St Philadelphia, PA 19139

Prime West Philly development land, 28,410 sq ft.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional commercial land parcel, located at 246 S 59th Street in Philadelphia, Pennsylvania (zip code 19139), offers a unique investment opportunity. Spanning approximately 28,410 square feet, this corner lot sits at the intersection of 59th and Manning Streets in West Philadelphia. Currently zoned CMX2-Neighborhood Commercial Mixed-Use-2, the property is designated as an Opportunity Zone (QOZ), providing significant tax advantages. Preliminary approvals are underway for a multifamily development project, with plans to construct up to 95 apartment units. The site enjoys convenient access to University City, a thriving hub of employment and innovation, boasting numerous tech, biomedical, life sciences, healthcare, and higher education institutions, including the University of Pennsylvania, Drexel University, Children's Hospital of Philadelphia, and the Science Center. This area is experiencing significant transformation, evolving into a world-class destination. The property is being sold subject to approvals or can be considered as-is. Conceptual plans are available upon request. The asking price is $1,480,000. The listing has been active for 519 days, with the most recent term extending from June 10, 2024, to September 10, 2024.

Highlights

  • Entitled land for a 109-unit multifamily development.
  • CMX-2 zoned, neighborhood commercial mixed-use site in West Philadelphia.
  • Located in an Opportunity Zone (QOZ).
  • Approved for up to 95 apartments.
  • Contract extension: Originally expiring 12/21/23, extended to 2/15/24, and further extended to 9/10/24.
  • 519 days on market.

Property Details for 246 59Th St

Property type
Land

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9569099
Longitude
-75.2407549

FAQs

What type of property is this?
Land - Prime West Philly development land, 28,410 sq ft.
Where is the land located?
The property is located at 246 59Th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Entitled land for a 109-unit multifamily development.; CMX-2 zoned, neighborhood commercial mixed-use site in West Philadelphia.; Located in an Opportunity Zone (QOZ).
How can I contact the broker?
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246 59Th St
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