432 W Allegheny Ave Philadelphia, PA
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Mixed-use development opportunity with existing income and expansion potential.
Type:RETAIL
Property size:
86,415 SFLot size:
1.75 AcresPrice / SF:
$92/SF- Added:
- Sep 22, 2023
- Days on Market:
- 944
- Last Refresh:
- Apr 5 at 10:16 pm
Property Features for 432 W Allegheny Ave
General Information
- Standard status
- Active
- Size
- 86,415 SF
- Lot size
- 1.75 Acres
- Property subtype
- RETAIL
Listing agent Steven Clofine License #RS290724
Listing office MPN Realty, Inc. (215) 413-4900
Listing date Sep 22, 2023
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of MPN Realty, Inc.
Overview
Mixed-Use Development Opportunity
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Acelero Learning (Plaza ...
High School
Legacy Furniture
Furniture & Home Goods
Similar Places Nearby
- Maciel nail hair salon and barber shop — 517 W Erie Ave, Philadelphia, PA 19140
- HyF State Inspection & Emission — 265 W Allegheny Ave, Philadelphia, PA 19133
- Tulip filadelfia — 987 W Lehigh Ave, Philadelphia, PA 19133
- Plaza Americana — 2727 N American St, Philadelphia, PA 19133
- Edison Plaza — Philadelphia, PA 19133
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.1375
- Latitude
- 39.999
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Mixed-use development opportunity with existing income and expansion potential.
Where is this shopping center located?
The property is located at 432 W Allegheny Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Overbuild development opportunity: add residential units to an existing 86,415 SF building plus a 2,500 SF ancillary building.; Current tenant rents from Acelero Learning and Legacy Furniture can offset development costs.; Legacy Furniture space can be delivered vacant if necessary.
