432 W Allegheny Ave Philadelphia, PA 19134

The property at 432 W Allegheny Avenue presents a development opportunity to add residential units to the existing 86,415 square foot building, which also includes a 2,500 square foot ancillary building. Current tenants, Acelero Learning and Legacy Furniture, provide rental income that can offset development costs for the second floor. The space occupied by Legacy Furniture can be delivered vacant if needed. A small building to the east, currently leased by a dental clinic, can be demolished to create a parking and delivery entrance for apartments above. There is parking to the east of the main building between the furniture store and the dental clinic, as well as parking to the west with 38 spaces. The zoning is ICMX, which does not allow residential development; however, the seller is willing to work with the buyer to obtain the necessary zoning variance. The seller also owns the adjoining shopping center.