5623 Lancaster AvePhiladelphia, PA 19131

Property Details for 5623 Lancaster Ave

Year built

1930

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.40 AC

Property size (Sq ft)

3,200 SF

Zone code

ICMX

Property type

Retail properties

Property subtype

Retail space

APN

88-2-9720-15

APU

882972015

Description

This exceptional 3,200 square foot warehouse, situated on a 0.39-acre lot in Philadelphia, Pennsylvania, presents a compelling investment opportunity. Priced at $695,000, the property boasts two drive-in doors, measuring 10' x 12' and 14' x 13', providing convenient access for loading and unloading. The property benefits from approximately 143 feet of frontage on Lancaster Avenue, a highly trafficked thoroughfare. Its ICMX zoning (Industrial Commercial Mixed-Use) allows for a variety of potential uses. Strategically located approximately two miles from the I-76 ramp, this warehouse offers easy access to Center City Philadelphia and major bridges leading to New Jersey, enhancing its logistical advantages. The estimated 2022 property taxes were $13,603.25. This prime location and versatile zoning make this warehouse an attractive prospect for a wide range of businesses. The address is 5623 Lancaster Avenue, Philadelphia, PA 19131.

• CAP approach

  CAP return

  Valuation

  6%

  $1,324,566

  6.5%

  $1,222,676

  7%

  $1,135,342

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,053,642

  Geo Method

  $1,053,642

• Alternative Use

  Use

  Valuation

  Residential

  $1,031,373

  Hospitality

  $944,732

  Educational

  $786,006

  Medical

  $813,038

  Retail

  $1,222,676

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9809

Longitude

-75.2352

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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