135 Chelten AvePhiladelphia, PA 19144

Property Details for 135 Chelten Ave

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.10 AC

Property size (Sq ft)

3,840 SF

Zone code

CMX2.5

Property type

Retail properties

Property subtype

Retail space

APN

88-2-0728-59

APU

882072859

Description

This 3,840 square foot retail storefront, located at 135 West Chelten Avenue in Philadelphia, Pennsylvania, presents a compelling investment opportunity. The property, built in 1950 and situated on a 0.1-acre lot (APN 88-2-0728-59), is currently 100% occupied by a Pennsylvania Liquor Control Board (PLCB) liquor store under a newly extended lease. Recent renovations include new flooring, paint, a hot water heater, and the installation of new double rear doors for convenient deliveries. Further improvements encompass a new roof, updated air conditioning, and renovated restrooms. The property benefits from its location within an Opportunity Zone and boasts a strong, reliable income stream from the long-standing tenant. The asking price is $649,000, translating to $169.01 per square foot. Real estate taxes for 2023 were $3,956. The property is zoned CMX-25 and features a single-story building. This is a rare opportunity to acquire a well-maintained, income-producing retail property in a desirable location with a secure, long-term tenant. The property's strong financials, recent upgrades, and prime location make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $933,254

  6.5%

  $861,465

  7%

  $799,932

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,264,371

  Geo Method

  $1,264,371

• Alternative Use

  Use

  Valuation

  Residential

  $726,678

  Hospitality

  $665,633

  Educational

  $553,799

  Medical

  $572,845

  Retail

  $861,465

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0333

Longitude

-75.1779

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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