3859 Lancaster AvePhiladelphia, PA 19104

Property Details for 3859 Lancaster Ave

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.05 AC

Property size (Sq ft)

4,455 SF

Zone code

CMX2

Property type

Investment properties

Property subtype

Live-work space

APN

87-1-2996-80

APU

871299680

Description

This exceptional 1,680-square-foot executive office space is located at 3859 Lancaster Avenue in Philadelphia, Pennsylvania's vibrant Powelton Village neighborhood. The property, situated on the ground floor of a three-story building, boasts a 12-foot ceiling height and is zoned CMX-2. Currently available as a single, 1680 SF unit, it also offers the flexibility of being divisible into two spaces of approximately 800 and 880 square feet, catering to various business needs. The space benefits from high visibility and excellent street frontage, ensuring maximum exposure. The asking rent is $26 per square foot, NNN. This location offers unparalleled access to a thriving commercial ecosystem, surrounded by popular establishments such as Green Line Café, Local 44 Beer Shop, and AccuCare Home Health Services, along with other boutiques, eateries, and offices. Its proximity to the University of Pennsylvania and Drexel University provides a unique opportunity to tap into a large and diverse clientele of students and professionals. Furthermore, the property enjoys convenient access to public transportation, major highways, and key areas including Center City, North Philadelphia, and Montgomery County. This is an ideal opportunity for businesses seeking a prominent location in a dynamic and rapidly growing area of Philadelphia. Philadelphia County ownership.

• CAP approach

  CAP return

  Valuation

  6%

  $1,254,452

  6.5%

  $1,157,956

  7%

  $1,075,244

• Comparable approach

  Method

  Valuation

  Relative Method

  $582,090

  Geo Method

  $582,090

• Alternative Use

  Use

  Valuation

  Residential

  $1,435,865

  Hospitality

  $1,315,244

  Educational

  $1,094,268

  Medical

  $1,131,902

  Retail

  $1,702,195

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9617

Longitude

-75.1992

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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