116-120 23Rd St, Philadelphia, PA 19103
3 Unit Apartment Building | $6,000,000 ($2,000,000/Unit) | Philadelphia, PA 19103
For Sale
Active
Asking Price $6,000,000
- Sale Condition
- Redevelopment Project
- Property Type
-
Multifamily
- Square Feet
- 8,955 SF
Listing Contacts
Brian Figgs
Jeffrey Shablin
- Property Info
Property Overview
Introducing an exceptional commercial property nestled in the vibrant heart of Fitler Square! This prime establishment currently operates as a well-established bar and restaurant, offering a unique opportunity for entrepreneurs and investors alike. Boasting a coveted CMX-4 zoning, transferable liquor License and a prime corner lot, this property opens doors to a diverse range of possibilities. Location: Situated in the trendy Fitler Square neighborhood, the property enjoys high foot traffic and proximity to various amenities, making it an ideal spot for businesses seeking visibility and accessibility. Usage: Currently operating as a successful bar and restaurant, the space is versatile and can accommodate various business concepts, from upscale dining to trendy nightlife experiences. The current owner is also open to moving back in as a tenant. Zoning: The property is zoned CMX-4, providing flexibility for a wide array of commercial uses. This zoning classification allows for mixed-use development, making it an attractive option for those looking to explore residential and/ or retail opportunities. The end use will determine the max height that someone could build. Liquor License: A significant advantage is the inclusion of a transferable liquor license, simplifying the process for businesses in the food and beverage industry. This valuable asset adds an extra layer of appeal for entrepreneurs looking to capitalize on the thriving hospitality scene. Spacious Interior: The property boasts a generously sized interior, providing ample space for creative layout designs and optimal utilization. The first floor bar / Restaurant consists of 2,948 sq ft. The second and third floors consist of 2 apartments. Apartment 1: 2 beds, 2 baths, 2,004 sq ft and is owner occupied but has the rental potential of around $3000/ month. Apartment 2 : 2 beds, 2 baths 1,233 sq ft. It is currently vacant and a white box, but could have a rental potential of $2500/ month. Outdoor Seating Potential: Explore the option to incorporate outdoor seating, creating an inviting atmosphere for patrons to enjoy al fresco dining or drinks. Established Clientele: Benefit from an existing customer base, thanks to the property's current operation as a popular bar and restaurant. Seller is open to becoming a tenant and still operating the bar/ Restaurant. Seize the opportunity to own this prime commercial property in Fitler Square, where the dynamic blend of location, zoning, and a transferable liquor license sets the stage for success. Whether you're a seasoned restaurateur, Hotelier an aspiring entrepreneur, or an investor with a keen eye for prime real estate, this property promises a gateway to a thriving business venture. Act now and be part of the flourishing commercial landscape in one of Philadelphia's most sought-after neighborhoods! PLEASE REACH OUT TO LEARN MORE ABOUT ADDITIONAL NEIGHBORING PARCELS AVAILABLE AND FEASIBILITY.
Property Details
- Class
- C
- Year Built
- 1900
- Stories
- 3
- Property Subtype
- Storefront Retail/Residential, Office/Residential, Dormitory
- Lot Size (sq. ft)
- 3,049 SF
- Units
- 3
Highlights
- CMX4 Zoning
- Transferrable Liquor License
- Location
- High Traffic Visability
- ADDITIONAL NEIGHBORING PARCELS AVAILABLE, PLEASE INQUIRE FOR MORE INFO.
- Corner Property
All available spaces
- Space
- Lot 1
- Size
- 2,614 SF
- Price
- $6,000,000
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