2531 Girard Avenue,  Philadelphia PA, 19130

(NEW LISTING)
$399,000
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MLS# 7233114
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Last Updated: 8/15/2018 10:33 PM
Description for 2531 Girard Avenue Philadelphia, PA 19130
Investor alert: this prime redbrick commercial property in booming Brewerytown is located on one of Philadelphia's prime retail corridors, Girard Avenue. Hundreds of apartments and dozens of new residences are being built and sold in this area in addition to the diverse collection of retailers supporting the new residents. This 2681 SF 3-story building features a Southern-exposed storefront plus room for 3 apartments on floors 2/3. Build two studio apartments and rent for 1100/month each; build a 2bd/2ba apartment and rent for 1600/month. The storefront should rent for 25/PSF. This large 1626 SF lot is about 16' x 102'. The CMX2.5 zoning designation is highly coveted by investors and developers; build an additional 1-2 stories on top of the existing structure for more height (55' allowable by code) and density. Join the likes of destination establishments like Rybrew (restaurant), Crime & Punishment Brewing Co (gastropub), Steelworks Strength Systems (crossfit/gym), Green Eggs Caf~ (brunch), Cycle Brewerytown (spin studio), Pizza Dads (pizza) + more along the vibrant commercial strip. This is a fast-growing area popular with millennials. Property values are rapidly rising in Brewerytown. Acquire 2531 Girard, perform a full gut renovation and recognize an ARV (after renovation value) of 875,000, a 6.7-cap investment. Property being sold as-is. Owner will consider acting as general contractor on future renovation. Apply for 10yr tax abatement before starting construction.
Price
$399,000
Brewerytown
PHILADELPHIA
7233114
NEW LISTING
Description
Investor alert: this prime redbrick commercial property in booming Brewerytown is located on one of Philadelphia's prime retail corridors, Girard Avenue. Hundreds of apartments and dozens of new residences are being built and sold in this area in addition to the diverse collection of retailers supporting the new residents. This 2681 SF 3-story building features a Southern-exposed storefront plus room for 3 apartments on floors 2/3. Build two studio apartments and rent for 1100/month each; build a 2bd/2ba apartment and rent for 1600/month. The storefront should rent for 25/PSF. This large 1626 SF lot is about 16' x 102'. The CMX2.5 zoning designation is highly coveted by investors and developers; build an additional 1-2 stories on top of the existing structure for more height (55' allowable by code) and density. Join the likes of destination establishments like Rybrew (restaurant), Crime & Punishment Brewing Co (gastropub), Steelworks Strength Systems (crossfit/gym), Green Eggs Caf~ (brunch), Cycle Brewerytown (spin studio), Pizza Dads (pizza) + more along the vibrant commercial strip. This is a fast-growing area popular with millennials. Property values are rapidly rising in Brewerytown. Acquire 2531 Girard, perform a full gut renovation and recognize an ARV (after renovation value) of 875,000, a 6.7-cap investment. Property being sold as-is. Owner will consider acting as general contractor on future renovation. Apply for 10yr tax abatement before starting construction.
Listing Information
Property Type: General Commercial, Other
0.04 Acres LA $148.83
1915
Brewerytown
4 Total
Neighborhood
School Information
District: Philadelphia
Room Information
Interior Features
3
Exterior / Lot Features
Brick
None
16X102
CMX25
Urban
Financial Considerations
$3,288
2018
Listing Price History

Philadelphia Real Estate

Philadelphia is located in Pennsylvania. Philadelphia, Pennsylvania 19130 has a population of 1,567,442.

The median household income in Philadelphia, Pennsylvania 19130 is $37,460. The median household income for the surrounding county is $37,460 compared to the national median of $53,482. The median age of people living in Philadelphia 19130 is 33.6 years.

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Courtesy: BHHS Fox & Roach-Center City Walnut
BRIGHT MLS - All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.
This content last refreshed on 8/15/2018 10:33 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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