2943-47 REED ST Under Contract Save Request In-Person Tour Request Virtual Tour
Philadelphia,PA 19146
Key Details
Property Type Commercial
Sub Type Services
Listing Status Under Contract
Purchase Type For Sale
Square Footage 3,100 sqft
Price per Sqft $161
Subdivision Grays Ferry
MLS Listing ID PAPH2393148
Originating Board BRIGHT
Year Built 1940
Annual Tax Amount $3,817
Tax Year 2024
Lot Size 3,100 Sqft
Acres 0.07
Lot Dimensions 50.00 x 62.00
Property Description
Discover a prime investment opportunity in the vibrant Grays Ferry neighborhood! This versatile corner property, currently utilized as a Child Learning Center and Day Care Facility, offers a wealth of potential. Ideal for investors looking to add a cash flowing property to their rental portfolio with tons of upside.
The property is currently occupied by a tenant on a 5 year triple net lease which started in April of 2024. The monthly rent for the 1st year is $5,564 ($66,768/year) with a 3% increase each year of the lease.
The property is zoned CMX-2 which can be a development opportunity turning this into a mixed use multi-family property by right. The building sits on 100% of the lot which is 3,100 Sq/Ft.
Featuring spacious rooms, modern amenities, and a flexible layout, this corner property has a ton of options for what it can be used for once the current lease expires. Its prominent location in a thriving community adds additional value, making it an excellent choice for a development project. Don’t miss out on this chance to capitalize on a property with a proven track record in a growing area. Schedule your visit today and envision the possibilities!
Location
State PA
County Philadelphia
Area 19146 (19146)
Zoning CMX2
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
View Street
Accessibility None
Parking Type On Street
Garage N
Building
Lot Description Corner
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 882060070
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash,Other
Listing Terms Cash,Other
Financing Cash,Other
Special Listing Condition Standard