1949 2Nd St Philadelphia, PA 19122

This exceptional investment opportunity presents a 16,600 square foot, three-story building situated on a 0.15-acre lot in Philadelphia's rapidly developing Norris Square neighborhood. Built in 1930, the property boasts concrete flooring on the ground floor and wood flooring with timber beams on the upper levels. The building features seven parking spaces accessible from Norris Street via an extra-large roll-up garage door, with potential for expansion to eight. Its strategic location at the intersection of three streets (Palthorp, Norris, and 2nd Street) offers significant flexibility. Currently zoned I2, the property allows for substantial redevelopment potential. Options include constructing a five-story building with up to 36 residential units and commercial space, leveraging green roof and affordable unit incentives, or renovating the existing structure to create approximately 21 loft-style residential units plus commercial space. The I2 zoning also accommodates a variety of business uses or storage. The property's proximity to Norris Square Park and the American Avenue corridor, slated for significant infrastructure improvements and development projects, further enhances its investment appeal. This is a rare chance to capitalize on the burgeoning growth of this vibrant Philadelphia neighborhood. The asking price is $1,495,000, and the property is offered fee simple. APN: 884343635.