11 3Rd StPhiladelphia, PA 19106

Property Details for 11 3Rd St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.02 AC

Property size (Sq ft)

1,679 SF

Zone code

CMX3

Property type

Investment properties

Property subtype

Live-work space

APN

88-2-2602-00

APU

882260200

Description

This exceptional 420-square-foot retail space at 11 S 3rd St in Philadelphia offers a fantastic opportunity for a single-tenant business. Boasting large storefront windows that flood the interior with natural light, this property benefits from its prime location just one block from the Market-Frankford 2nd Street Subway Station, ensuring excellent accessibility for customers. The CMX-3 zoning allows for a variety of commercial uses. Furthermore, its position half a block from the Museum of the American Revolution contributes to exceptionally high daily foot traffic, placing it within Philadelphia's most vibrant and popular tourist destination. The property's proximity to Market Street, a bustling thoroughfare brimming with restaurants, cafes, unique shops, and lively nightlife venues, guarantees significant visibility and exposure to a diverse clientele. This location provides an unparalleled opportunity to establish a thriving business in a high-demand area. The single-tenant occupancy ensures complete control and flexibility for the new owner. The building is a single structure, simplifying management and operations. This is a rare chance to secure a highly desirable retail space in the heart of Old City Philadelphia.

• CAP approach

  CAP return

  Valuation

  6%

  $615,549

  6.5%

  $568,199

  7%

  $527,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $223,766

  Geo Method

  $223,766

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,107,630

  Retail / Commercial

  $569,240

  Hospitality / Lodging

  $418,155

  Office

  $565,852

  Institutional / Educational

  $591,051

  Residential Income

  $691,529

  Multifamily

  $823,907

  Automotive / Energy

  $506,615

  Parking / Income-Based Land

  $173,851

  Restaurant / Food Service

  $297,632

  Healthcare / Senior Housing

  $581,664

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9506

Longitude

-75.1454

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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