242 South StPhiladelphia, PA 19147

Property Details for 242 South St

Year built

1887

Property size (Sq ft)

1,440 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional mixed-use property at 242 South Street in Philadelphia, Pennsylvania, presents a unique investment opportunity. The 1,440 square foot building, constructed in 1887 and zoned CMX-2, boasts two units: a fully operational ice cream shop and a spacious residential apartment. The ice cream shop is a turnkey operation, equipped and ready for immediate use. The 1,200 square foot, bi-level apartment features one bedroom and a remarkable roof deck offering stunning city skyline views. Currently, the apartment is rented for $1,500 per month, providing immediate rental income. The property's prime location on the vibrant South Street commercial corridor ensures high visibility and foot traffic. The asking price is $688,000, translating to $477.78 per square foot. This represents a compelling opportunity to acquire a profitable, established business alongside a desirable residential unit in a highly sought-after Philadelphia location. The property's historical charm combined with its modern functionality makes it an ideal investment for owner-occupants seeking a blend of commercial and residential income streams. The building's solid construction and established tenancy offer a secure and potentially lucrative investment. This is a rare chance to own a piece of Philadelphia's rich history and vibrant commercial landscape. Don't miss this chance to secure a thriving business and a comfortable residence in one convenient package.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9413

Longitude

-75.1472

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