641 N 56TH ST new to site Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19131
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 1,824 sqft
Price per Sqft $150
MLS Listing ID PAPH2478588
Year Built 1925
Available Date 2025-05-09
Annual Tax Amount $1,272
Tax Year 2025
Lot Size 1,253 Sqft
Property Sub-Type Mixed Use
Property Description
High-Yield Investment Opportunity – 13.24% Cap Rate in a Federal Opportunity Zone. This prime corner mixed-use property delivers strong cash flow and is situated within a designated Federal Opportunity Zone, offering significant tax incentives for the savvy investor. Currently designed as a fully equipped neighborhood grocery store, the retail space includes shelving, refrigeration units, and a deli counter—all included in the sale. Above the store is a spacious two-bedroom, one-bath residential unit featuring a living room, a kitchen with a combined dining area, and a private deck. Additionally, the property includes a roughed-in studio space at the rear of the first floor—perfect for expanding residential income, additional storage for the corner store or reimagining as a home office, flex space or Airbnb. The commercial space also has direct basement access for storage, via the interior or the Bilco door entrance from the street.This is a versatile, income-producing asset with excellent value-add potential in a high-demand location—ideal for both seasoned investors and new entrants seeking long-term growth with built-in tax advantages. Needs TLC but the value is there for a savvy investor. Easy to see with no tenants.
Location
State PA
County Philadelphia
Area 19131 (19131)
Zoning CMX1
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Flooring Hardwood
Exterior
Water Access N
Roof Type Unknown
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
High Schools Overbrook
School District Philadelphia City
Others
Acceptable Financing Cash,Conventional,Private
Listing Terms Cash,Conventional,Private
Special Listing Condition Standard