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    241 Chestnut St Philadelphia, PA 19106

    Sponsored
    For Sale
    $500,000

    Prime Philadelphia retail space, $500,000.

    Property size:
    2,438 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional storefront property, located at 241-43 Chestnut Street in Philadelphia, Pennsylvania, presents a unique investment opportunity. The 2,438 square foot space is currently configured as a multifamily unit, but its CMX3 zoning permits a wide range of retail uses, making it ideal for a variety of businesses. The building, constructed in 1900, boasts a strong presence on a vibrant street in the 19106 zip code. Priced at $500,000, this translates to $205.09 per square foot, reflecting the desirability of this location. The property consists of a single unit, offering a manageable and potentially highly profitable investment. Its prime location in Philadelphia offers excellent visibility and accessibility for customers. The property is being offered for sale by owner, providing a direct and efficient transaction process. This is a rare chance to acquire a well-situated storefront in a thriving Philadelphia neighborhood. The property's historical charm combined with its modern zoning potential makes it an attractive proposition for savvy investors seeking a strong return on investment. Serious inquiries are encouraged to explore this exciting opportunity further.

    Property Features for 241 Chestnut St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,438 SF

    Building Details

    Year Built
    1900
    Units
    1

    HighLights

    • 2,438 SF storefront at 241‑43 Chestnut St, Philadelphia, PA 19106.
    • CMX‑3 zoning allows for diverse retail uses.
    • $500,000 asking price ($205.09/SF).
    • Currently configured as a multi‑family unit, but ideal for retail conversion.
    • 1900 construction, offering historical charm.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.145782
    Latitude
    39.9493801

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    FAQs

    What type of property is this?
    Individual retail property - Prime Philadelphia retail space, $500,000.
    Where is this individual retail property located?
    The property is located at 241 Chestnut St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: 2,438 SF storefront at 241-43 Chestnut St, Philadelphia, PA 19106.; CMX-3 zoning allows for diverse retail uses.; $500,000 asking price ($205.09/SF).
    Request Owner's contact information
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    Philadelphia, PA 19106
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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
    241 Chestnut St Philadelphia, PA 19106
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