246 Market Street
246 Market Street
$1,250,000
—
6,300
6,300
$198
Description
This magnificent architectural masterpiece, prominently positioned on Market Street in Old City, presents a rare opportunity for development in a bustling urban locale. Boasting an impressive facade that floods both floors with natural light, this property offers the perfect opportunity to transform this commercial building into a mixed-use multi-family investment. Currently configured as a bar/restaurant, this expansive space is approximately 6,300 square feet. The width of the property is a generous...This magnificent architectural masterpiece, prominently positioned on Market Street in Old City, presents a rare opportunity for development in a bustling urban locale. Boasting an impressive facade that floods both floors with natural light, this property offers the perfect opportunity to transform this commercial building into a mixed-use multi-family investment. Currently configured as a bar/restaurant, this expansive space is approximately 6,300 square feet. The width of the property is a generous 22 Ft and goes as far back as 99 Ft making the lot size 2,178 Sq/Ft. The current zoning is CMX-3 which allows by right for you to develop this into 8 total units - 1 commercial unit on the 1st floor and 7 residential units. This development will require for two addition stories to be added in order to fit all of the units comfortably. With the city 's plan of building a Park Cap over I-95 this can be the perfect opportunity to buy in the neighbor before prices increase dramatically. With the plan of developing this into a mixed-use multifamily cash flowing building and holding onto it for the long term can create tons of equity for generations to come. This location enjoys easy access to public transportation via the MFL Frankford Transportation Center to 69th St Transportation Center at the 2nd St Station - MFL stop. With a Walk Score of 100, transit score of 100, and Bike Score of 84, this area is a paradise for pedestrians, commuters, and cyclists alike. Surrounded by essential services such as CVS Pharmacy, the US Post Office, and various local businesses, this property offers endless possibilities for development. Don't miss out on this prime opportunity - schedule a viewing today before it's too late!
- Listed by Maria Maria Quattrone Quattrone • RE/MAX @ HOMEP: 2156073523 thelistingteam@liveloveathome.com
- Listed by Nadia Laksana • RE/MAX @ HOMEP: 2157700671 nlaksana@liveloveathome.com
Property Details for 246 Market Street
Tax ID Number
882501900
OwnershipFee Simple
Structure TypeOther
StyleUnit/Flat, Other
WaterfrontNo
ViewsCity, Street, Scenic Vista
GarageNo
SubdivisionOLD CITY
Location
LISTING UPDATED: 04/22/2024 05:47 PM
Property Details for 246 Market Street
Status | Active |
---|---|
MLS # | PAPH2343996 |
Days on Market | 14 |
Taxes | $11,919 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-Family / Fee Simple |
Year Built | 1900 |
Lot Size | 0.05 AC / 2,178 SF |
County | Philadelphia County |
Location
Building Information for 246 Market Street
Stories-Residences1Year Built1900Building Size-Lot Size0.05 AC / 2,178 SF
Payment Calculator
$7,815 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 246 Market Street
Property History for 246 Market Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 246 Market Street
Taxable ValueLand$170,291Additions$681,209Total$851,500
Tax Record2023$11,919 ($993 / month)
Home Facts
Total Finished SqFt4,300 SqFtAbove Grade Finished SqFt4,300 SqFtStories2Lot Size2,178 SqFtStyleRestaurantYear Built1900ZoningCMX3CountyPHILADELPHIAAPN88-2-5019-00
Schools near 246 Market Street
This home is within Philadelphia City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
McCall Gen George A School PublicK to 8 | ||
Franklin Benjamin High School Public9 to 12 | ||
Constitution High School Public9 to 12 | ||
Academy At Palumbo Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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