892 Belmont Ave Philadelphia, PA 19104
10,084 sq ft development property in West Philadelphia.
Type:Land, Mixed Use, Multifamily
Property size:
10,084 SF- Added:
- Oct 3, 2023
- Days on Market:
- 930
- Last Refresh:
- Mar 17 at 1:24 pm
Property Features for 892 Belmont Ave
General Information
- Standard status
- Active
- Size
- 10,084 SF
- Property subtype
- Land, Mixed Use, Multifamily
Listing agent Jarrell James License #RS345750
Listing office KW Empower
Listing date Oct 3, 2023
Source Crexi
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
Overview
West Philadelphia Development Opportunity
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.211962
- Latitude
- 39.969816
Nearby Similar for Sale
FAQs
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.
