3178 Richmond StPhiladelphia, PA 19134

Property Details for 3178 Richmond St

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.06 AC

Property size (Sq ft)

7,040 SF

Zone code

CMX2

Property type

Investment properties

Property subtype

Live-work space

APN

88-2-9207-01

APU

882920701

Description

This exceptional 7,000 square foot office space at 3178 Richmond Street in Philadelphia, PA (19134), presents a unique leasing opportunity. Originally a nickelodeon and later a Polish Army Veterans Hall, this completely redeveloped building boasts a beautifully restored façade and offers flexible CMX-2 zoning. Ideal for a variety of uses, including creative agencies, co-working spaces, professional services, or special purpose organizations. The building features loft-like floor plans with high ceilings and abundant natural light, complemented by exposed brick walls and restored hardwood flooring. Modern amenities include high-efficiency HVAC, designer lighting, and CAT7 wiring for superior internet connectivity. The first floor showcases a sprawling open concept layout with a historic marble and mahogany bar, kitchenette, storage, and two ADA-compliant restrooms – perfect for client events or employee amenities. The second floor offers a lofty plan with three offices and two restrooms, while the third floor provides an open plan with five offices and one restroom. A clean, dry, and well-lit basement offers ample storage or additional workspace. Conveniently located with easy access to public transportation and major roadways, this property is an excellent choice for businesses seeking a vibrant and historic setting in the heart of Philadelphia's Port Richmond neighborhood. Available November 1, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $1,596,641

  6.5%

  $1,473,822

  7%

  $1,368,550

• Comparable approach

  Method

  Valuation

  Relative Method

  $919,846

  Geo Method

  $919,846

• Alternative Use

  Use

  Valuation

  Residential

  $1,827,540

  Hospitality

  $1,674,017

  Educational

  $1,392,762

  Medical

  $1,440,662

  Retail

  $2,166,519

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.983

Longitude

-75.1019

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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