1650 W Girard Ave — Sale in Philadelphia, PA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Philadelphia, PA 19130
  • Size: 164,895 SF

Description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, has been retained on an exclusive basis to arrange the sale of 1650 W Girard Avenue (the “Site” or “Property”), a 0.76- acre development site located in the Fairmount neighborhood. The offering presents investors with the opportunity to acquire one of the few remaining developable parcels to construct 209 luxury residential apartment units, 3,223 square feet of groundfloor commercial space, and 71 parking spaces. Situated on the southeast corner of Girard Avenue and North 17th Street, this 32,979 square-foot opportunity is located within a Qualified Opportunity Zone and is well positioned to benefit from the investment expansion in Fairmount and the North Broad Corridor of Center City Philadelphia. Furthermore, 1650 West Girard benefits from a full ten-year real estate tax abatement from the City of Philadelphia, which will offer attractive cash-on-cash returns to investors during their hold period. This highly accessible urban, infill location features flexible zoning that allows for multiple development uses with limited restrictions. 1650 W. Girard presents the opportunity to develop by right up to 164,895 SF. The CMX-3 zoning provides for a variety of creative development scenarios and the flexible zoning and fundamentals support the development of residential, commercial, and retail spaces for the Fairmount neighborhood to benefit from. 1650 W Girard Avenue represents an incredible opportunity to acquire one of the few remaining developable parcels in Fairmount that is primed for multi-housing development.

Market Context

This commercial property in Philadelphia, PA is listed for sale across 164,895 SF. It has been on the market for 83 days. Compare it against other commercial property listings for sale in Philadelphia, PA — view the full market.

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