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    2123 Broad St Philadelphia, PA 19122

    Sponsored
    For Sale
    $949,999

    Prime Philadelphia multifamily site.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 19,200 square foot development parcel is located at 2123 N Broad St, Philadelphia, PA 19122, within the North Broad District and Temple University submarket. Zoned CMX-25, this property offers a compelling opportunity to construct a 22-unit (44-bed) multifamily building with 700 square feet of commercial space. The site benefits from its proximity to Temple University, Philadelphia's largest university, ensuring strong rental demand. Its transit-oriented location further enhances its appeal. This development site is eligible for a 10-year tax abatement, allowing for payment of taxes on the assessed land value only during that period. The asking price is $949,999, presenting an attractive land basis for a sound investment thesis in a high-growth area supported by robust rental fundamentals. The property is situated in a Qualified Opportunity Zone (QOZ), offering additional investment incentives. This is a rare chance to capitalize on the thriving Temple University submarket and its consistent student population.

    Property Features for 2123 Broad St

    General Information

    Property type
    Land

    HighLights

    • 19,200 SF development parcel in Philadelphia's North Broad District, near Temple University.
    • CMX‑25 zoning allows for a 22‑unit (44‑bed) multifamily building with 700 SF of commercial space.
    • Transit‑oriented location with strong rental demand due to proximity to Temple University.
    • Eligible for a 10‑year tax abatement and located in a Qualified Opportunity Zone (QOZ).
    • Asking price: $949,999.
    Property Profile Location Intelligence

    Current Use by Public Records

    Antioch@Temple Church

    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
    -75.1559388
    Latitude
    39.9853778

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    FAQs

    What type of property is this?
    Land - Prime Philadelphia multifamily site.
    Where is this land located?
    The property is located at 2123 Broad St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $949,999.
    What are key features of this property?
    This property features: 19,200 SF development parcel in Philadelphia's North Broad District, near Temple University.; CMX-25 zoning allows for a 22-unit (44-bed) multifamily building with 700 SF of commercial space.; Transit-oriented location with strong rental demand due to proximity to Temple University.
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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
    2123 Broad St Philadelphia, PA 19122
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