1638 Passyunk AvePhiladelphia, PA 19145

Property Details for 1638 Passyunk Ave

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.05 AC

Property size (Sq ft)

2,276 SF

Zone code

CMX2.5

Property type

Office buildings

APN

88-3-3759-95

APU

883375995

Description

This exceptional 2,000 square foot commercial property, located at 1638 W Passyunk Avenue in South Philadelphia, presents a unique investment opportunity. Originally constructed in 1931 as a gas testing station, the building boasts a rich history and has most recently served as a medical office. The flexible CMX-2.5 zoning allows for a diverse range of uses, making it ideal for various businesses. The property features two 1,000 square foot levels: a ground floor and a finished basement, providing ample space for operations. The current owner is open to collaborating on significant interior renovations to suit a prospective tenant's specific needs. Benefit from the building's high visibility and ample signage opportunities on Passyunk Avenue, a bustling commercial corridor with significant foot traffic. The wide sidewalk in front enhances accessibility and visibility. This is a fantastic chance to establish your business in a vibrant and thriving South Philadelphia neighborhood. The property is offered as a single-tenant space, providing exclusive occupancy and control.

• CAP approach

  CAP return

  Valuation

  6%

  $714,829

  6.5%

  $659,842

  7%

  $612,710

• Comparable approach

  Method

  Valuation

  Relative Method

  $297,382

  Geo Method

  $297,382

• Alternative Use

  Use

  Valuation

  Residential

  $818,204

  Hospitality

  $749,470

  Educational

  $623,550

  Medical

  $644,995

  Retail

  $969,967

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9244

Longitude

-75.1744

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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