447 Broad StPhiladelphia, PA 19123

Property Details for 447 Broad St

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 1.4-acre development opportunity is located at 447 N. Broad Street in Philadelphia, Pennsylvania, zip code 19123. The property, identified by APN 7716351125, is owned by Parents United for Better Schools, Inc. and boasts a substantial 60,984 square foot lot size. Its CMX-4 zoning allows for significant development potential, exceeding 700,000 square feet with the possibility of zoning bonuses. The site benefits from its strategic location less than half a mile north of Philadelphia City Hall, placing it within a rapidly developing area. Adding to its appeal, this property is designated as a Federal Opportunity Zone and is eligible for New Markets Tax Credits, presenting attractive investment incentives. For immediate revenue generation, the site includes a modern, leasable school building spanning 73,560 square feet and a parking lot. The current lease on the property expires on June 30, 2024, leaving 0 years remaining on the 20-year lease. This presents a unique chance to acquire a prime development site with existing income streams in a highly sought-after Philadelphia location.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9612

Longitude

-75.161

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