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    892 Belmont Ave Philadelphia, PA 19104

    Sponsored
    For Sale
    $1,750,000

    10,084 SF, 28 Units, QOZ

    Property size:
    10,084 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional redevelopment opportunity encompasses two parcels totaling 10,084 square feet located at 892-894 Belmont Avenue and 4401-4427 Lancaster Avenue in Philadelphia, Pennsylvania, zip code 19104. The property is situated within a Qualified Opportunity Zone (QOZ), offering significant tax advantages for investors. The site is currently vacant and zoned CMX-2, allowing for a variety of development options, including up to 28 residential units. The asking price is $1,750,000, translating to $173.54 per square foot. This presents a unique chance to capitalize on the substantial tax benefits of a QOZ investment while simultaneously developing a property in a rapidly growing West Philadelphia neighborhood. The flexible CMX-2 zoning allows for creative development plans, catering to diverse market demands. The substantial lot size and strategic location combine to create a compelling investment opportunity with high potential for return. This fee simple ownership offers complete control and flexibility for the successful developer. The property's location within a thriving area ensures strong demand, making it an attractive proposition for both short-term and long-term investment strategies. The QOZ designation provides significant tax benefits, including capital gains deferral, reduction, and potential exemption, further enhancing the investment's appeal. This is a rare chance to acquire a substantial development site in a prime location with significant tax advantages.

    Property Features for 892 Belmont Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,084 SF
    Class
    C

    Building Details

    Units
    28

    HighLights

    • 10,084 SF development opportunity in West Philadelphia's Qualified Opportunity Zone (QOZ), encompassing multiple addresses on Lancaster Ave and Belmont Ave.
    • Prime West Philadelphia location offering high demand and strong ROI.
    • CMX‑2 zoning allows for up to 28 units and a maximum 38‑foot building height, providing significant development flexibility.
    • Qualified Opportunity Zone (QOZ) designation offers substantial tax advantages, including capital gains deferral, reduction, and potential exemption.
    • Property is vacant and offered Fee Simple by owner.
    • Broker co‑op is available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -75.211436786382
    Latitude
    39.969409077442

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    FAQs

    What type of property is this?
    Multifamily property - 10,084 SF, 28 Units, QOZ
    Where is this multifamily property located?
    The property is located at 892 Belmont Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: 10,084 SF development opportunity in West Philadelphia's Qualified Opportunity Zone (QOZ), encompassing multiple addresses on Lancaster Ave and Belmont Ave.; Prime West Philadelphia location offering high demand and strong ROI.; CMX-2 zoning allows for up to 28 units and a maximum 38-foot building height, providing significant development flexibility.
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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
    892 Belmont Ave Philadelphia, PA 19104
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