899 Granite StPhiladelphia, PA 19124

Property Details for 899 Granite St

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.03 AC

Property size (Sq ft)

1,600 SF

Zone code

CMX1

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

87-1-5470-10

APU

871547010

Description

This exceptional mixed-use property in Philadelphia, PA, presents a unique investment opportunity. Located at 899 Granite St, 19124, this fee-simple owned building boasts 1,600 square feet on a 1,143 square foot lot, zoned CMX1. The property features two units: a ground-floor commercial space and a three-bedroom apartment on the second floor, each with separate electric meters. The ground floor, previously a convenience store, is street-level accessible and includes fixtures such as two refrigerators, a surveillance system with TVs, and a glass display case. A half bath is located behind the store, and a finished basement offers additional space, ideal for storage or various uses. The second-floor apartment offers spacious bedrooms, a full eat-in kitchen, and a full bath, accessible via a separate entrance. Recent upgrades include a new roof (2023), a four-year-old furnace, and a new oil tank. While the second floor currently uses baseboard electric heat, the oil heating system can be easily reconnected. The first floor utilizes oil heat. This corner lot property benefits from high foot traffic, making it an ideal location for a business and residential living. The property is being sold as-is.

• CAP approach

  CAP return

  Valuation

  6%

  $334,384

  6.5%

  $308,662

  7%

  $286,614

• Comparable approach

  Method

  Valuation

  Relative Method

  $209,056

  Geo Method

  $209,056

• Alternative Use

  Use

  Valuation

  Residential

  $382,740

  Hospitality

  $350,588

  Educational

  $291,685

  Medical

  $301,717

  Retail

  $453,733

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0319

Longitude

-75.0923

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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