23-25 19Th StPhiladelphia, PA 19103

Property Details for 23-25 19Th St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.05 AC

Property size (Sq ft)

5,816 SF

Zone code

CMX5

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

87-1-2696-00

APU

871269600

Description

This exceptional mixed-use property at 23-25 S 19th St, Philadelphia, PA 19103, presents a lucrative investment opportunity in the heart of Rittenhouse Square. The 5,816 square foot building, situated on a 2,880 square foot lot, boasts a prime corner location at the intersection of South 19th and Ludlow Streets. The three-story structure, built in 1900, is zoned CMX-5 and currently houses six tenants, generating a substantial net operating income (NOI) of $188,754. The ground floor comprises two +/- 1,000 square foot retail spaces, currently occupied by a deli and a dry cleaner. A Phase II environmental site assessment completed in 2017 confirmed no environmental concerns. The upper floors feature three residential units (one studio and two one-bedroom apartments) and one office space, currently leased until June 2024. The property offers a total of 2,000 square feet of net rentable space, with an asking price of $3,250,000 ($558.80 per square foot). This presents a rare chance to acquire a well-established, income-producing asset in a highly desirable Philadelphia neighborhood. The property's strong tenant occupancy and excellent location make it an ideal investment for both seasoned and emerging investors.

• CAP approach

  CAP return

  Valuation

  6%

  $1,873,617

  6.5%

  $1,729,493

  7%

  $1,605,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $759,919

  Geo Method

  $759,919

• Alternative Use

  Use

  Valuation

  Residential

  $2,144,571

  Hospitality

  $1,964,416

  Educational

  $1,634,371

  Medical

  $1,690,579

  Retail

  $2,542,354

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9526

Longitude

-75.1715

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].