$500,000
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2943 Reed Street Philadelphia, PA 19146 Municipality: Philadelphia
Other
Residence
Beds
Baths
3,100
Sq. Ft.
0.07
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
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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 wit...h 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. Donât 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!
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MLS#
PAPH2393148
Property Type
Other
Year Built
1940
Square Feet
3,100
sq. ft
Price per Sq. Ft.
$161.29
Lot Size
0.07
Sewer
Public Sewer
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