West Philadelphia Development
For Sale
Contact for pricing
Pending
892 Belmont Ave, Philadelphia, PA 19104
10,084 sq ft development property in West Philadelphia.
Property Size10,084 SF
Days on Market1071
Property Features for 892 Belmont Ave
General Information
Standard status
Pending
Size
10,084 SF
Class
B
Property subtype
Land, Mixed Use, Multifamily
Zoning
CMX-2
Investment Type
Redevelopment
Building Details
Units
28
Listing Agency:
KW Empower
Listed By:
Jarrell James · License #RS345750
(215) 607-6007
Source:
Crexi
Added: Oct 3, 2023
Changed: Sep 6
Last Checked: Sep 7 at 6:30AM
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 KW Empower
Investment Insights
Based on property information with market context.
Located in a Qualified Opportunity Zone (QOZ) in West Philadelphia, this property package includes addresses 4401, 4421, 4423, 4425, and 4427 Lancaster Ave, along with 892 and 894 Belmont Avenue. The property offers 10,084 square feet of CMX-2 development space. Being situated within a QOZ provides financial incentives, including potential capital gains deferral until December 31, 2026, or until the property is sold. Holding the property for at least five years may reduce deferred capital gains tax by 10%, and holding it for seven years could increase that reduction to 15%. If held for ten years, any appreciation in the property's value may be exempt from capital gains tax. The CMX-2 zoning allows for a maximum height of 38 feet and the option for up to 28 units, offering flexibility in development projects. This location in West Philadelphia is positioned to benefit from the area's ongoing growth.
Key Highlights
- Located in a Qualified Opportunity Zone (QOZ), offering significant tax advantages.
- Expansive 10,084 sq ft of CMX‑2 zoned development space.
- By‑right option for up to 28 units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 10,084 sq ft development property in West Philadelphia.
Where is this commercial land located?
The property is located at 892 Belmont Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Located in a Qualified Opportunity Zone (QOZ), offering significant tax advantages.; Expansive 10,084 sq ft of CMX‑2 zoned development space.; By‑right option for up to 28 units.
