For Sale
$1,495,000

1949 2Nd StPhiladelphia, PA 19122

16,600 SF, 7 Parking Spaces, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
113
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.

Property Details for 1949 2Nd St

Property type
Retail properties, Apartment buildings
Year Built
1930
Lot Size (sq. ft)
6,534 SF

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.980512
Longitude
-75.137104
1949 2Nd St, Philadelphia, Pennsylvania

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1949 2Nd St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message