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    1622-28 Passyunk Ave Philadelphia, PA 19145

    For Sale
    $1,250,000

    Prime Philly location, high-income potential.

    Property size:
    8,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional Philadelphia commercial property, located at 1622-28 W. Passyunk Avenue, presents a unique investment opportunity. Priced at $1,250,000, this 8,000 square foot property encompasses four parcels and offers significant development potential. Currently operating as a successful auto repair and transmission shop since 1981, the business boasts a loyal customer base and consistent revenue. The shop features two large bay doors and street-to-street access, providing excellent operational efficiency. Adding to the income stream, a gym occupies the second floor, having been a long-term tenant for over 30 years, ensuring stable rental income. The sale includes the real estate, the established business, all equipment, and goodwill. The large lot size and prime location in Philadelphia County, PA (zip code 19145) provide ample opportunities for expansion, redevelopment into mixed-use, retail, or additional commercial space. This is a rare chance to acquire a profitable, established business with substantial growth potential in a thriving Philadelphia neighborhood. The property's strategic location and diverse income streams make it an attractive investment for both seasoned and emerging commercial investors.

    Property Features for 1622-28 Passyunk Ave

    General Information

    Property type
    Land
    Square Feet
    8,000 SF

    HighLights

    • $1,250,000 asking price.
    • 8,000 square foot lot, Special Purpose/Land property.
    • Located at 1622‑28 W. Passyunk Avenue, Philadelphia, PA 19145.
    • Includes established auto repair business (since 1981) and long‑term gym tenant.
    • Four parcels offer significant redevelopment potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market 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
    -75.173783
    Latitude
    39.924507

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    FAQs

    What type of property is this?
    Land - Prime Philly location, high-income potential.
    Where is this land located?
    The property is located at 1622-28 Passyunk Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: $1,250,000 asking price.; 8,000 square foot lot, Special Purpose/Land property.; Located at 1622-28 W. Passyunk Avenue, Philadelphia, PA 19145.
    Request Owner's contact information
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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
    1622-28 Passyunk Ave Philadelphia, PA 19145
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