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$1,200,000

Est. payment - /mo

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4,900 SqFt

Active

1616-22 MCKEAN ST Philadelphia, PA 19145

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Michelle McMaster

michelle@saillakerealty.com +1(856) 335-5586

UPDATED:

12/22/2024 07:26 AM

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

Square Footage 4,900 sqft

Price per Sqft $244

Subdivision Newbold

MLS Listing ID PAPH2400618

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $3,857

Tax Year 2024

Lot Size 4,900 Sqft

Acres 0.11

Lot Dimensions 70.00 x 70.00

Property Description

This 4,900 sq ft commercial warehouse, set on a 70' x 70' corner lot, offers significant potential for redevelopment in the thriving New Bold neighborhood. Zoned I2-Medium Industrial, the site is potentially ideal for a range of uses, including multi-unit residential, office space, or mixed-use development (Zoning permit or Variance needed). Buyers are advised to verify zoning requirements with the City of Philadelphia for specific project feasibility.

Sewage, electricity, and water are already available, offering a significant advantage. A nearby property sold for a similar price in 2023 but lacked utility access, spent hundreds of thousands for it. Tenants are in the process of moving out and will vacate by December, making the property ready for immediate redevelopment.

Currently operating as an auto repair shop. Located near East Passyunk Avenue, South Broad Street, and Washington Avenue, this fast-growing neighborhood offers excellent rental demand, business traffic, and appreciation potential, supported by new construction nearby and proximity to public transportation, restaurants, and employment hubs.

This rare corner lot presents a prime chance to capitalize on South Philadelphia's booming market with a project tailored to meet the area's high demand for residential and commercial spaces.

Location

State PA

County Philadelphia

Area 19145 (19145)

Zoning I2

Interior

Hot Water None

Heating Radiator

Cooling None

Heat Source Natural Gas

Exterior

Utilities Available Sewer Available, Water Available, Electric Available

Water Access N

Accessibility None

Garage N

Building

Sewer Public Septic, Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 882967880

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Financing Cash,Conventional,Other

Special Listing Condition Standard

Listed by Xianghong Lin • Target Realty

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Michelle McMaster

Broker | License ID: 1542221

+1(856) 335-5586

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1616-22 MCKEAN ST Philadelphia, PA 19145

Michelle McMaster

Key Details

Location

Interior

Exterior

Building

Schools

Others

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1616-22 MCKEAN ST