246 Market Street

Philadelphia, PA 19106

$1,250,000
Price
Beds
6,300 Sq. Ft.
$198 / Sq. Ft.
6,300
Sq. Ft.
$198
per Sq. Ft.

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!
  1. Listed by Maria Maria Quattrone Quattrone • RE/MAX @ HOME
    P: 2156073523 thelistingteam@liveloveathome.com
  2. Listed by Nadia Laksana • RE/MAX @ HOME
    P: 2157700671 nlaksana@liveloveathome.com

Property Details for 246 Market Street

Tax ID Number
882501900
Ownership
Fee Simple
Structure Type
Other
Style
Unit/Flat, Other
Waterfront
No
Views
City, Street, Scenic Vista
Garage
No
Subdivision
OLD CITY

Location

Listing Courtesy of RE/MAX @ HOME
Add your commute
LISTING UPDATED: 04/22/2024 05:47 PM

Property Details for 246 Market Street

StatusActive
MLS #PAPH2343996
Days on Market14
Taxes$11,919 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1900
Lot Size0.05 AC / 2,178 SF
CountyPhiladelphia County

Location

Listing Courtesy of RE/MAX @ HOME
Add your commute

Building Information for 246 Market Street

Stories-Residences1Year Built1900Building Size-Lot Size0.05 AC / 2,178 SF

Payment Calculator

$7,815 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,822

Property Taxes

$993

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 246 Market Street

Location
Location
  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District County ID: 300200397108
  • SchoolDistrictSource: Listing Agent
  • County: PHILADELPHIA
  • MLS Area: 19106 (19106)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Association / Community Info
Association / Community Info
  • Association Recreation Fee Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2022
  • Tax Assessed Value: $851,500
  • Year Assessed: 2023
  • County Tax: $0
  • Improvement Assessed Value: $681,209
  • City Town Tax: $5,378
  • Land Assessed Value: $170,291
  • Clean Green Assessed: No
  • Municipal Trash: Yes
  • Land Use Code: IB0
  • Historic: No
  • Zoning: CMX-3
  • Tax Lot: 11
  • School Tax: $6,540
  • School Tax Payment Frequency: Annually
  • Automatically Update Tax Values Y/N: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 0
Building Info
Building Info
  • Building Units Total: 1
  • Total Finished SQFT: 6,300.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Estimated
  • Lot Size Dimensions: 22.00 x 100.00
  • Lot Dimensions Source: Estimated
  • Lot Features: Road Frontage
  • Location Type: Urban
  • Parcel ID: 1414183
  • Ground Rent Exists: No
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Spa: No
  • Exterior Features: Sidewalks, Street Lights
  • Pool: No Pool
  • Other Structures: Above Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Central A/C
  • Cooling Fuel: Natural Gas
  • Heating Type: Heat Pump(s)
  • Heating Fuel: Natural Gas
  • Hot Water: Multi-tank
  • Water Source: Public
  • Sewer Septic: Public Sewer
Confidential Data
Listing Office
  • List Agent AOR: Greater Philadelphia Association of REALTORS
  • List Agent URL: www.liveloveathome.com

Property History for 246 Market Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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246 Market Street is a multi-family home for sale in Philadelphia, PA 19106. This property was listed for sale on April 22, 2024 by RE/MAX @ HOME, it's currently listed at $1,250,000. It has been on the market for a total of 14 days and was last sold on September 8, 2014. This listing's school district is Philadelphia City School District. Nearby schools include McCall Gen George A School, Franklin Benjamin High School and Constitution High School. 246 Market Street is a 0-bed, 0-bath, 6,300 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX @ HOME

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.