2400 Hunting Park AvePhiladelphia, PA 19129

Property Details for 2400 Hunting Park Ave

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.09 AC

Property size (Sq ft)

1,791 SF

Zone code

CMX2

Property type

Retail properties

Property subtype

Auto shops

APN

88-2-9661-15

APU

882966115

Description

This exceptional investment opportunity presents a 1,791 square foot, fee-simple owned auto shop located at 2400 W Hunting Park Ave, Philadelphia, PA 19129. The property, built in 1940, sits on a 3,744 square foot lot and boasts a 12% cap rate with a current NOI of $42,000. Currently 100% occupied under a NNN lease, the single tenant is behind on rent, but the seller is willing to forgive all back rent and have the tenant sign a new lease with the buyer. This presents a unique value-add opportunity. The property is zoned CMX2, allowing for the construction of up to six units, based on the lot size. The property includes 25 parking spaces and 38 square feet of air rights. This prime location is directly across from a major pharmaceutical development, indicating significant future growth potential in a high-traffic area. The asking price is $350,000, with a price per square foot of $195.42. This is a rare chance to acquire a well-located, income-producing property with substantial upside potential in a rapidly developing neighborhood. The property features one building, one story, and is classified as Industrial, Land, Mixed Use, and Special Purpose.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0091

Longitude

-75.1681

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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