PA > Philadelphia
Philadelphia, PA 19125,2001-5 FRANKFORD AVE
Philadelphia, PA 19125,2001-5 FRANKFORD AVE
Philadelphia, PA 19125,2001-5 FRANKFORD AVE
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Listed by Ryan J McManus • Keller Williams Liberty Place
$7,000,000
Est. payment /mo
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25,225 SqFt
Under Contract

2001-5 FRANKFORD AVE Philadelphia, PA 19125

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Under Contract

Purchase Type For Sale

Square Footage 25,225 sqft

Price per Sqft $277

MLS Listing ID PAPH2421106

Year Built 2024

Available Date 2024-11-25

Annual Tax Amount $14,242

Tax Year 2025

Lot Size 6,169 Sqft

Acres 0.14

Lot Dimensions 60.00 x 120.00

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

$1M price reduction: "The Fishtown Portfolio" presents a rare investment opportunity to acquire three (3) best-in-class boutique mixed-used properties at a substantial discount to replacement cost in the most vibrant location in Philadelphia, Pennsylvania — FISHTOWN. Each building features an instantly recognizable address (Frankford Avenue and Girard Avenue) which insulate the properties and elevate the rentability factor for new ownership. 2301 Frankford = 6 apts + commercial. Signed lease for ground floor commercial (bar concept) — all apartments leased. 2001 Frankford = 8 apts + 2x commercial. Vacant ground floor commercial (to be built out once tenant's procured) — apartments in punchlist/lease up phase. 240 E Girard = 9 apts + 2x commercial. White box commercial space — apartments in lease up. These assets benefit from destination ground floor retail/commercial spaces with unrivaled street presence/exposure. Fishtown is known for its world-class culinary environment, in addition to its thriving retail, commercial and residential landscape swelling with positive demand. 28 total units are included within The Portfolio. 8.4% pro forma cap rate. 10 year tax abatement. Seize the rare opportunity to acquire trophy addresses in Philly's hottest submarket.
***PORTFOLIO SALE; 3 BUILDINGS ON OFFER (2301 FRANKFORD, 2001 FRANKFORD, 240 E GIRARD). USE SELLER'S PREFERRED TITLE COMPANY TO ENSURE SMOOTH SETTLEMENT PROCESS. TAXES, SF, FINANCIALS TO BE INDEPENDENTLY VERIFIED IN DUE DILIGENCE.

Location

State PA

County Philadelphia

Area 19125 (19125)

Zoning CMX2

Interior

Hot Water Natural Gas

Heating Central

Cooling Central A/C

Flooring Luxury Vinyl Plank

Heat Source Central

Exterior

Water Access N

View City

Roof Type Fiberglass

Accessibility None

Garage N

Building

Lot Description Corner

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

New Construction Y

Schools

School District Philadelphia City

Others

Tax ID 881068753

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

Bright MLS (BMLS)

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agent

Jonathan Greene

Team Leader | License ID: 1433604

+1(973) 873-0734

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