246 59Th StPhiladelphia, PA 19139

Property Details for 246 59Th St

Year built

1925

Lot size

0.64 AC

Property size (Sq ft)

38,448 SF

Zone code

CMX2

Property type

Commercial land

APN

88-2-9693-30

APU

882969330

Description

This exceptional commercial land parcel, located at 246 S 59th Street in Philadelphia, Pennsylvania (zip code 19139), offers a unique investment opportunity. Spanning approximately 28,410 square feet, this corner lot sits at the intersection of 59th and Manning Streets in West Philadelphia. Currently zoned CMX2-Neighborhood Commercial Mixed-Use-2, the property is designated as an Opportunity Zone (QOZ), providing significant tax advantages. Preliminary approvals are underway for a multifamily development project, with plans to construct up to 95 apartment units. The site enjoys convenient access to University City, a thriving hub of employment and innovation, boasting numerous tech, biomedical, life sciences, healthcare, and higher education institutions, including the University of Pennsylvania, Drexel University, Children's Hospital of Philadelphia, and the Science Center. This area is experiencing significant transformation, evolving into a world-class destination. The property is being sold subject to approvals or can be considered as-is. Conceptual plans are available upon request. The asking price is $1,480,000. The listing has been active for 519 days, with the most recent term extending from June 10, 2024, to September 10, 2024.

• Alternative Use

  Use

  Valuation

  Residential

  $12,391,949

  Hospitality

  $11,350,959

  Educational

  $9,443,865

  Medical

  $9,768,654

  Retail

  $14,690,456

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.957

Longitude

-75.2405

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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