138 Chestnut St
Philadelphia, PA 19106
Retail Property For Sale
EXECUTIVE SUMMARY
Rare opportunity to acquire a cash flowing value add building on one of the most iconic blocks in Old City, with highly favorable zoning to build vertical. This 3 story building houses a very popular sushi spot which stood the test of the pandemic. The current owner purchased the building with 2nd and 3rd floors un developed as raw space. Here is your chance to build multiple more stories to increase the value and cash flow. Current tenant just renewed last year for their only option in the lease.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,386 SF
Building Class
C
Year Built/Renovated
1900/2019
Price
£504,764
Price Per SF
£364.19
Net Initial Yield
7.16%
NOI
£36,161
Tenancy
Single
Number of Floors
3
Building FAR
3.00
Lot Size
0.01 AC
Zoning
CMX3 - Commercial Mixed Use
Frontage
14 ft on Chestnut St
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 882487400 | Improvements Assessment | £181,901 |
| Land Assessment | £45,475 | Total Assessment | £227,377 |
