3526 Germantown AvePhiladelphia, PA 19140

Property Details for 3526 Germantown Ave

Year built

1925

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.04 AC

Property size (Sq ft)

3,072 SF

Zone code

CMX2

Property type

Investment properties

Property subtype

Live-work space

APN

87-1-5672-00

APU

871567200

Description

This fee-simple mixed-use property at 3526 Germantown Avenue in Philadelphia, PA 19140 presents a compelling value-add investment opportunity. The three-story building, totaling 3,072 square feet, sits on a CMX2 zoned lot and offers significant development potential. Currently vacant, the property requires some work, including the erection of a wall separating it from the adjacent building at 3522 Germantown Avenue, and the removal of existing contents left by the previous business owner. The asking price is $185,000, translating to $60.22 per square foot. The building's existing structure is usable, and preliminary assessments suggest the potential for conversion into a four-unit residential building (buyer to verify with an architect). The property boasts high foot traffic due to its location on the vibrant Germantown Avenue corridor. Additionally, 38 square feet of air rights are included. This property offers a projected 10% capitalization rate, making it an attractive prospect for investors seeking a development project with strong potential for rental income. Serious inquiries only

• CAP approach

  CAP return

  Valuation

  6%

  $583,473

  6.5%

  $538,590

  7%

  $500,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $401,388

  Geo Method

  $401,388

• Alternative Use

  Use

  Valuation

  Residential

  $667,852

  Hospitality

  $611,749

  Educational

  $508,968

  Medical

  $526,472

  Retail

  $791,728

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0067

Longitude

-75.1503

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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