1831 FRANKFORD AVENUE
PHILADELPHIA, PA 19125

$1,200,000

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Status Active
Listing Lots And Land
Style Other
Year Built N/A
MLS® PAPH798650
Original Listing Open Link
Lots And Land For Sale

Property Features
Opportunity Zone development site: Real estate investments made by individuals through special funds in these new zones can defer or eliminate federal taxes on capital gains and avoid future tax penalties often associated with real estate investing. One hundred billion dollars in capital are expected to spur development in these zones. Frankford Ave: welcome to the coolest street in the hippest area of Philadelphia, Fishtown. This +/-3000 SF prominent corner parcel can accommodate ground floor retail, parking and apartments above or it can become standalone retail/commercial to create another Fishtown destination. The 2350 SF single-story structure is slab-on grade solid construction supported by steal beams and would make a solid foundation to build additional stories on top, or could be refurbished for a single-story end user. The Fishtown area has consistently proven itself to be the most in-demand place for cutting-edge food + drink establishments with notable national attention for many places such as Suraya, Pizzeria Beddia, La Colombe, Wm Mulherins Sons + more. Aether just opened its doors right across the street to critical acclaim, and new construction condos + townhomes are selling out fast right across the street and all over Fishtown as it has quickly become the top destination in the city for homebuyers. National retailers like Starbucks and Lululemon are also taking note and contributing to the retail streetscape here on Frankford Avenue. Pop artist MOMO designed a vibrant eye-catching abstract mural on the Berks Street side of the building which runs the length of the property, lending the property even more local authenticity and street appeal. Redevelop this asset and qualify for Philadelphia~s 10yr tax abatement program to only pay taxes on the unimproved (existing) value. This area is a millennial magnet, heavily concentrated with New York investment seeking higher returns and strong rent growth + appreciation in addition to retail success and residential sales. Please note the neighboring parcels can be packaged to total up to 175 feet of frontage on Frankford Avenue for over 15,000 SF of contiguous mixed-used redevelopment. Inquire within. Recent press clippings focused on Fishtowns thriving scene include Vogue Magazine, Forbes, Philadelphia Business Journal and more. This is a transit-oriented development (TOD) site located within a few hundred yards of SEPTA's Berks station on the Market-Frankford El, bringing riders to and from Center City and University City seamlessly.
Key Features
Lot Size 0.07 acres
Property Type Lots And Land
Style Other
Exterior Features
Lot Size 0.07 acres
Roof Unknown
The Neighborhood
County PHILADELPHIA

Disclaimer: Copyright © 2019 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Interested in this listing?
Listing Agent
Ryan McManus
Compass Pennsylvania, LLC
Direct: 267-838-5265
Broker: 267-435-8015
By clicking "submit" you agree to receive electronic communications in response to your request from NewPoint Media Group or the information provider.
Contact
Listing Agent
Ryan McManus
Compass Pennsylvania, LLC
Direct: 267-838-5265
Broker: 267-435-8015
By clicking "submit" you agree to receive electronic communications in response to your request from NewPoint Media Group or the information provider.
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Information deemed reliable but not guaranteed. All measurements are approximate. MLS® numbers are provided where available. NewPoint Media Group, LLC is not affiliated or associated with The Canadian Real Estate Association or any other owner of the MLS® word or design mark in any geographic area.