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    2964 Richmond St Philadelphia, PA 19134

    For Sale
    $699,000

    11-Unit Residential & Commercial Space

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional mixed-use development opportunity in Philadelphia's vibrant Port Richmond neighborhood presents a fully approved project ready for immediate construction. The property includes a building permit and comprehensive plans for eleven residential units – ten one-bedroom and one two-bedroom – alongside a substantial 1,385 square foot ground-floor commercial space. Situated on a 0.09-acre lot on a busy commercial street, this location offers unparalleled access to local amenities, including popular restaurants such as Tacconelli's Pizzeria, Mercer Cafe, Gaul & Co. Malt House, The Green Rock Tavern, and nearby grocery options like Riverwards Produce and Stock's Bakery. The development's design incorporates practical and sustainable features, such as dedicated bike storage, commercial storage, and designated trash areas, enhancing both resident and business appeal. The strategic location ensures easy access to public transportation, further increasing its attractiveness. This turnkey project offers a compelling investment opportunity with significant potential for strong returns. Detailed financial projections and additional information are available upon request. The asking price is $699,000.

    Property Features for 2964 Richmond St

    General Information

    Property type
    Mixed-use properties
    Lot Size
    3,920 SF

    Building Details

    Year Built
    1915
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.10697
    Latitude
    39.98033

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    FAQs

    What type of property is this?
    Mixed-use property - 11-Unit Residential & Commercial Space
    Where is this mixed-use property located?
    The property is located at 2964 Richmond St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $699,000.
    (215) 627-3500
    Request Owner's contact information
    2964 Richmond St Philadelphia, PA 19134
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    Philadelphia, PA 19134
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2964 Richmond St Philadelphia, PA 19134
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