134 Chestnut StPhiladelphia, PA 19106

Property Details for 134 Chestnut St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.02 AC

Property size (Sq ft)

2,265 SF

Zone code

CMX3

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

87-1-0063-00

APU

871006300

Description

This exceptional Old City investment opportunity presents a fee-simple, mixed-use quadplex totaling 3,300 square feet on a 945 square foot lot. The property, built in 1900 and extensively renovated in 2023, boasts a Class A designation and features four units: a thriving restaurant occupying a significant portion of the building, and three residential units. Currently operating at 50% occupancy, the property offers immediate cash flow with a strong NOI of $88,711 and a compelling 7.42% cap rate. The asking price is $1,195,000, translating to $362.12 per square foot and $298,750 per unit. The restaurant benefits from a long-term lease under a NNN structure. Two of the residential units are currently vacant, presenting an immediate opportunity to increase rental income. The third residential unit is occupied by a long-term tenant. The property is zoned CMX3, offering significant potential for future development, including the possibility of utilizing the 60 square feet of available air rights. This four-story building represents a rare chance to acquire a stabilized investment in one of Philadelphia's most desirable neighborhoods. Financial proforma is available online.

• CAP approach

  CAP return

  Valuation

  6%

  $729,667

  6.5%

  $673,539

  7%

  $625,429

• Comparable approach

  Method

  Valuation

  Relative Method

  $295,945

  Geo Method

  $295,945

• Alternative Use

  Use

  Valuation

  Residential

  $835,188

  Hospitality

  $765,028

  Educational

  $636,494

  Medical

  $658,384

  Retail

  $990,102

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9482

Longitude

-75.1438

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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