$3,200,000
$3,500,000
8.6%For more information regarding the value of a property, please contact us for a free consultation.
1.36 Acres Lot
SOLD DATE : 08/14/2024
Key Details
Sold Price $3,200,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision Northern Liberties
MLS Listing ID PAPH2291330
Sold Date 08/14/24
Originating Board BRIGHT
Year Built 1965
Annual Tax Amount $25,059
Tax Year 2022
Lot Size 1.356 Acres
Acres 1.36
Lot Dimensions 400.00 x 21.00
Property Description
Turn- key investment with lots of options. 8.57% cap rate! 1001 Poplar St adjoins the Northern Liberties section of the city – a very hot real estate market area. This prime real estate opportunity, presents a unique blend of commercial and residential potential. This property currently has a long term lease in place for $25,000 per month triple net. All expenses covered by tenant – make incredible cash flow day one. Options are boundless – keep tenant in place and develop northern portion of the site. Or keep renting and hold onto it and develop it completely in the future.
Potential to build by right up to 25 home or create a thriving 37-home community. The versatile zoning permits a harmonious blend of residential and commercial development, catering to a range of investment strategies, and this property offers numerous pathways for revenue generation.
This is a rare opportunity to capitalize on a prime piece of real estate in the vibrant Northern Liberties section of Philadelphia. Whether you're looking to create a residential community, commercial development, or a mix of both, 1001-9 Poplar St presents a canvas for your investment vision. As an added incentive, the commercial tenant in place will continue to pay rent while you receive zoning approvals! Again, the buyer has the advantage of assuming the commercial lease, contact us for details. Don't miss out on this chance to be a part of Philadelphia's thriving real estate market. The property address is 1001 Poplar Street. It encompasses two previous properties that were subsequently consolidated into one, namely, 1001-1009 and 1011-1035 Poplar Street. Contact us today to explore this exceptional investment prospect.
Location
State PA
County Philadelphia
Area 19123 (19123)
Zoning RSA5
Interior
Hot Water None
Heating None
Cooling None
Heat Source None
Exterior
Waterfront N
Water Access N
Accessibility Other
Parking Type Other
Garage N
Building
Sewer Public Hook/Up Avail
Water Public Hook-up Available
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 882934737
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with Danielle S. Py-Salas • EXP Realty, LLC
“Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”