600 24Th StPhiladelphia, PA 19146

Property Details for 600 24Th St

Year built

2015

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Property size (Sq ft)

2,266 SF

Zone code

ICMX

Property type

Office properties

APN

88-8-3044-58

APU

888304458

Description

This exceptional 2,266 square foot Class A commercial condominium presents a rare owner-user or value-add investment opportunity in Philadelphia's desirable Graduate Hospital neighborhood. Currently vacant, this traditional office space is ideally suited for a business seeking a move-in ready location with ample parking. The property boasts three indoor parking spaces, a significant advantage in this urban setting. Located at 600 S 24th St, Philadelphia, PA 19146, this property is zoned ICMX. The asking price is $795,000, translating to $350.84 per square foot. A significant benefit for the buyer is the remaining three years of a ten-year tax abatement, offering substantial financial savings. This is a for-sale-by-owner opportunity, allowing for direct negotiation and streamlined transaction. The property's prime location and attractive features make it an exceptional investment prospect for those seeking a high-return, low-risk opportunity in a thriving Philadelphia neighborhood. Don't miss this chance to acquire a well-situated, move-in ready office space with the added convenience of secure parking.

• CAP approach

  CAP return

  Valuation

  6%

  $491,489

  6.5%

  $453,682

  7%

  $421,276

• Comparable approach

  Method

  Valuation

  Relative Method

  $296,076

  Geo Method

  $296,076

• Alternative Use

  Use

  Valuation

  Residential

  $562,566

  Hospitality

  $515,307

  Educational

  $428,729

  Medical

  $443,474

  Retail

  $666,912

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9634

Longitude

-75.1446

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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