$1,100,000
$1,150,000
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14,479 SqFt
SOLD DATE : 11/10/2021
Key Details
Sold Price $1,100,000
Property Type Commercial
Sub Type Land for Commercial Use
Listing Status Sold
Purchase Type For Sale
Square Footage 14,479 sqft
Price per Sqft $75
Subdivision University City
MLS Listing ID PAPH970398
Sold Date 11/10/21
HOA Y/N N
Originating Board BRIGHT
Year Built 2021
Annual Tax Amount $1,733
Tax Year 2021
Lot Size 4,500 Sqft
Acres 0.1
Lot Dimensions 20.06 x 67.00
Property Description
Qualified Opportunity Zone (QOZ) shovel-ready multifamily development site FOR SALE in University City, Philadelphia. Located in the fastest growing sector of Philly, this prime corner parcel is fully entitled to construct 15 apartments atop ground floor commercial space on the bustling Lancaster Avenue commercial corridor on the Drexel side of Ucity. Millions of SF and billions of dollars in new development underway in the district including Schuylkill Yards, Science Center, University Place 3.0. This is one of the most concentrated innovation districts in the United States with national leading employment centers and higher learning institutions. All plans and permits include with sale. Site demolition will be finished by February 2021 at latest. 10 year tax abatement included; this will be one of the last developments to secure the full 10 year abatement in Philly before the program is decreased. Enquire within for pro forma financials, plans, permits (PPP) + MAKE YOUR MOVE!
Location
State PA
County Philadelphia
Area 19104 (19104)
Zoning CMX2
Interior
Hot Water None
Heating None
Cooling None
Heat Source None
Exterior
Waterfront N
Water Access N
View City
Accessibility None
Parking Type None
Garage N
Building
Lot Description Corner, Additional Lot(s)
Sewer Public Sewer, Public Septic
Water Public
New Construction Y
Schools
School District The School District Of Philadelphia
Others
Tax ID 871287650
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Aaron Lewis • Full Court Realty
“Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”