4346 Griscom StPhiladelphia, PA 19124

Property Details for 4346 Griscom St

Lot size

0.17 AC

Zone code

RSA5

Property type

Retail properties

Property subtype

Parking lots & garages

APN

88-5-5738-80

APU

885573880

Description

This exceptional 17,193 square foot lot in Philadelphia, Pennsylvania (zip code 19124), presents a unique opportunity for multi-family residential development. Located at 4346-56 Griscom Street, this fee simple property is zoned for multi-family use, with a variance already approved for the construction of 46 residential units. The property's size makes it one of the largest developable parcels currently available in the city. Previous zoning as RSA-5 has been superseded by the approved variance, streamlining the development process. This turnkey project offers significant potential for investors and builders, with an estimated cost per unit significantly below market rates. The convenient location near major transportation routes ensures easy access to all that Philadelphia offers, making this an attractive proposition for future residents. This is a rare chance to acquire a substantial, ready-to-develop site in a thriving market. The property is being offered for sale by owner at $799,000. Don't miss this chance to build something exceptional in a prime Philadelphia location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,025,043

  6.5%

  $1,869,271

  7%

  $1,735,751

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,388,146

  Geo Method

  $2,388,146

• Alternative Use

  Use

  Valuation

  Residential

  $1,576,800

  Hospitality

  $1,444,340

  Educational

  $1,201,674

  Medical

  $1,243,001

  Retail

  $1,869,271

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0127

Longitude

-75.0892

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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