3989 Ter St Philadelphia, PA 19128-5233

Property Details for 3989 Ter St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.03 lot acres

Property size

1,678 SF

Zone code

CMX1

Property type

Investment properties

Property subtype

Live-work space

APN

87-1-5272-90

APU

871527290

Description

This mixed-use property in Philadelphia's Manayunk neighborhood offers a fantastic investment opportunity. Located on the corner of Shurs Lane and Terrace Street, this highly visible building previously housed the popular Terrace Street Bistro. The first floor encompasses a restaurant space with seating for 20-25 guests, a large commercial kitchen equipped with a gas range, refrigerator, ample workspace, sinks, and prep areas, and two bathrooms. A spacious basement provides substantial storage, with additional room for refrigeration units. Upstairs, a separate two-bedroom apartment, accessible via a rear brick patio, presents a significant income stream. This unit features an eat-in kitchen, two bedrooms, a full bathroom, a laundry closet, and a large living room, with rental potential exceeding $1600 per month. The property's prime location, just three blocks from Manayunk's bustling Main Street, offers superior street parking compared to the Main Street area. The building's 1,678 square feet are priced at $283.08 per square foot, with an asking price of $475,000. The property is currently vacant, providing immediate occupancy for a new owner or tenant. This presents a unique chance to establish a thriving restaurant business while simultaneously generating rental income from the upstairs apartment.