707 2Nd StPhiladelphia, PA 19123

Property Details for 707 2Nd St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.04 AC

Property size (Sq ft)

4,133 SF

Zone code

CMX2.5

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

87-1-2827-50

APU

871282750

Description

This exceptional commercial property, located at 707 N. 2nd Street in Philadelphia, Pennsylvania (zip code 19123), offers 2,400 square feet of retail or restaurant space currently available for lease. The property is zoned CMX 2.5 and situated in Philadelphia County. The building is ideally suited for multiple tenants, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 1,400 square feet. Currently, the entire 2,400 square foot building is vacant, presenting a unique opportunity for a single tenant to occupy the entire space or for two separate tenants to lease individual units. The property's central location in Philadelphia offers excellent visibility and accessibility, making it an attractive option for businesses seeking a high-traffic area. This is a fantastic chance to establish or expand your business in a vibrant and thriving commercial district. The property's address is easily accessible via major roadways and public transportation, ensuring convenient access for both employees and customers. Interested parties should inquire about lease terms and conditions.

• CAP approach

  CAP return

  Valuation

  6%

  $1,331,441

  6.5%

  $1,229,022

  7%

  $1,141,235

• Comparable approach

  Method

  Valuation

  Relative Method

  $540,018

  Geo Method

  $540,018

• Alternative Use

  Use

  Valuation

  Residential

  $1,523,988

  Hospitality

  $1,395,965

  Educational

  $1,161,426

  Medical

  $1,201,369

  Retail

  $1,806,663

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9621

Longitude

-75.1408

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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