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    5235 Chestnut St Philadelphia, PA 19139

    Sponsored
    For Sale
    $5,100,000

    Entitled 204-unit multifamily project

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 28,049 square foot commercial land parcel in Philadelphia, PA (zip code 19139, located at 5235 Chestnut St), is zoned CMX-2.5 and offers a unique opportunity for developers. The site is fully entitled for a 204-unit multifamily development, perfectly situated within a Qualified Opportunity Zone and the Mixed Income Neighborhood Overlay. This prime location provides easy access to public transportation and the vibrant 52nd Street commercial corridor, known as "West Philadelphia's Main Street." The approved plans and permits are in place, eliminating significant pre-construction hurdles. The project's inclusion in the Mixed Income Neighborhood Overlay mandates 20% of units be rent-restricted, promoting housing affordability and potentially opening doors to financial incentives like low-income housing tax credits. This is a turnkey opportunity to construct a high-demand, transit-oriented apartment complex in a rapidly developing area of West Philadelphia. The asking price for this exceptional development site is $5,100,000. This long-vacant parcel is ready for immediate development, presenting a compelling investment opportunity for experienced developers seeking to contribute to the revitalization of West Philadelphia.

    Property Features for 5235 Chestnut St

    General Information

    Property type
    Land

    HighLights

    • $5,100,000 asking price.
    • 28,049 SF land parcel.
    • Located at 5235 Chestnut St, Philadelphia, PA 19139.
    • CMX‑2.5 zoning.
    • Entitled for a 204‑unit multifamily development in a Qualified Opportunity Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM Machine at Discount ... Atm

    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
    -75.2262025
    Latitude
    39.9589008

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    FAQs

    What type of property is this?
    Land - Entitled 204-unit multifamily project
    Where is this land located?
    The property is located at 5235 Chestnut St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $5,100,000.
    What are key features of this property?
    This property features: $5,100,000 asking price.; 28,049 SF land parcel.; Located at 5235 Chestnut St, Philadelphia, PA 19139.
    (215) 805-8620
    Request Owner's contact information
    5235 Chestnut St Philadelphia, PA 19139
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    Philadelphia, PA 19139
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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
    5235 Chestnut St Philadelphia, PA 19139
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