621 Reed StPhiladelphia, PA 19147

Property Details for 621 Reed St

Year built

1915

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.10 AC

Property size (Sq ft)

13,560 SF

Zone code

CMX2

Property type

Retail properties

Property subtype

Auto shops

APN

88-2-9664-00

APU

882966400

Description

This exceptional 3,326-square-foot flex space at 621 Reed Street in Philadelphia's vibrant Passyunk Square submarket presents a unique opportunity for businesses seeking a versatile and strategically located property. The single-tenant building boasts a 12-foot ceiling height, providing ample vertical space for various uses. With 40 feet of frontage on Reed Street and convenient access to S 6th St, the property offers excellent visibility and accessibility. The building features one drive-in door, enhancing operational efficiency. The CMX-2 zoning allows for a range of commercial and mixed-use possibilities. Situated in Philadelphia County, Pennsylvania, this property benefits from its proximity to major transportation arteries, including a short drive to I-95. The building's single-story design and efficient layout maximize usable space, making it an attractive option for a variety of businesses. This prime location within the thriving Passyunk Square neighborhood offers excellent access to a diverse customer base and a vibrant community atmosphere. The property is ready for immediate occupancy, providing a seamless transition for your business. Don't miss this chance to secure a highly desirable commercial space in a sought-after Philadelphia location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,611,201

  6.5%

  $5,179,570

  7%

  $4,809,601

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,464,809

  Geo Method

  $4,464,809

• Alternative Use

  Use

  Valuation

  Residential

  $4,369,161

  Hospitality

  $4,002,128

  Educational

  $3,329,724

  Medical

  $3,444,238

  Retail

  $5,179,570

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9315

Longitude

-75.1554

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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