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Key Details
Sold Price $900,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Olney (East)
MLS Listing ID PAPH2183524
Sold Date 01/17/23
Originating Board BRIGHT
Year Built 1950
Annual Tax Amount $11,664
Tax Year 2022
Lot Size 0.284 Acres
Acres 0.28
Lot Dimensions 40.00 x 220.00
Property Description
Currently cash flowing $84,000 NOI per year, NNN lease expires in Feb 2024. Tenant is a well-established day care operator with additional location nearby. Located along a major commercial corridor in the Olney/Oak Lane section of North Philadelphia. Recent owner renovations in 2019 and tenant fit outs completed in 2020. Can retain current tenant with potential expanded/diversified use of the upstairs space which is approximately 8,000 Sf. Extremely desirable for a value-add investor or owner/operator
Located in the Olney neighborhood in North Philadelphia. Bounded by Roosevelt Boulevard to the south, Olney is a residential neighborhood, with commercial centers for many surrounding groups. 5th Street has a Korean American business district in the vicinity of Olney Avenue, and Hispanic businesses flourish in the southern reaches of the neighborhood.
Location
State PA
County Philadelphia
Area 19120 (19120)
Zoning CMX25
Interior
Hot Water Electric
Heating Forced Air
Cooling Heat Pump(s), Programmable Thermostat
Flooring Luxury Vinyl Tile
Heat Source Electric
Exterior
Waterfront N
Water Access N
View Street
Roof Type Flat,Rubber
Street Surface Paved
Accessibility 48\"+ Halls, 2+ Access Exits
Road Frontage City/County
Parking Type On Street
Garage N
Building
Lot Description Road Frontage, Level, Backs - Open Common Area
Sewer No Septic System, Public Sewer
Water Public
New Construction N
Schools
Elementary Schools Lowell James
Middle Schools Grover Washington Jr
High Schools Fels Samuel
School District The School District Of Philadelphia
Others
Tax ID 882861400
Ownership Fee Simple
SqFt Source Assessor
Security Features Electric Alarm
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Qi Zhao • KW Philly
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