892 Belmont Ave Philadelphia, PA 19104

Listing Agency KW Empower j***@kw.com Show Phone

Listed by Jarrell James · License #RS345750

Source Crexi

Added: Oct 3, 2023 Checked: Jul 17 at 8:10 am

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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.

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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.