PA > Philadelphia > Cobbs Creek
Philadelphia, PA 19139,5452-56 WALNUT ST
Philadelphia, PA 19139,5452-56 WALNUT ST
Philadelphia, PA 19139,5452-56 WALNUT ST
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$1,250,000
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21,390 SqFt
Active

5452-56 WALNUT ST Philadelphia, PA 19139

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Melissa Roswell

Melissa Roswell

+1(856) 904-9502

UPDATED:

08/25/2024 12:50 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 21,390 sqft

Price per Sqft $58

Subdivision Cobbs Creek

MLS Listing ID PAPH2303548

Originating Board BRIGHT

Year Built 1925

Annual Tax Amount $11,197

Tax Year 2024

Lot Size 10,785 Sqft

Acres 0.25

Lot Dimensions 69.00 x 155.00

Property Description

Prime Redevelopment Opportunity in West Philadelphia's Walnut Street Corridor ||

Unlock the potential of this expansive corner commercial property located in the heart of West Philadelphia's Walnut Street corridor. As a Qualified Opportunity Zone (QOZ), this redevelopment gem offers savvy investors the chance to realize significant capital gains tax benefits while reshaping a prominent corner in the community. ||


Currently zoned CMX2 with a 38' height restriction, this property invites developers to reimagine its potential. Explore the possibilities of rezoning to CMX2.5 for an increased height of 55', providing added versatility in design and functionality. Whether adding extra levels or constructing an entirely new mixed-use facility, the canvas is yours to craft. ||


Capitalizing on eight 24" full-span ironwork girders, developers can elevate their projects with bonus height and density. A mixed-income housing plan not only enhances the property's appeal but also aligns with the community's needs, offering a compelling canvas for innovation in residential or business development. ||



Tailor the property to suit your preferred development model. Whether envisioning a mixed-use residential facility, food, and beverage retail sales, storage facility, food service-catering-commissary, day care center, learning center, or community center, the possibilities are vast. ||



Benefit from solid local traffic counts, excellent public transportation options, and easy access to Univ City and Center City. The property's strategic location enhances its appeal for a wide range of potential uses. ||



This development opportunity not only resides in a Qualified Opportunity Zone but is also eligible for a Philadelphia Tax Abatement and falls within a zone designated for New Market Tax Credit (NMTC). Investors can leverage these incentives to maximize returns and contribute to the growth of the community. ||



Review the property details, plan view, and photos at your convenience. Drive by for a firsthand look, and then connect with us for more information. Qualified buyers and serious interests are invited to express their interest. This motivated seller encourages you to seize this unique opportunity. Contact us today and bring your vision to life! ||

Location

State PA

County Philadelphia

Area 19139 (19139)

Zoning CMX2

Interior

Hot Water None

Heating None

Cooling None

Flooring Concrete, Wood

Heat Source Oil

Exterior

Utilities Available Electric Available, Natural Gas Available, Cable TV Available, Water Available

Water Access N

Roof Type Rubber,Hip

Street Surface Paved

Accessibility None

Garage N

Building

Lot Description Corner

Foundation Stone

Sewer Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 882927950

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, Industrial Development Authority

Listing Terms Cash, Conventional, Industrial Development Authority

Financing Cash,Conventional,Industrial Development Authority

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Charles Balducci • KW Empower

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Melissa Roswell

Agent | License ID: 1540788

+1(856) 904-9502

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5452-56 WALNUT ST

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