632-34 2Nd St Philadelphia, PA 19123
- Retail properties
- 5,976 SF
Current Use by Public Records
- Retail properties
Property Details for 632-34 2Nd St
- Year built
- 1920
- Property size
- 5,976 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This three-story, 5,976 square foot mixed-use building at 632-34 N 2nd Street in Philadelphia, PA, presents a compelling investment opportunity. Built in 1920, the property boasts a prime corner location in the thriving Northern Liberties neighborhood, zoned CMX-2.5. The building comprises six units: two commercial spaces (one leased to Chase Bank, the other to Northern Liberties Mailbox Store) and four residential units (two one-bedroom/one-bathroom and two two-bedroom/two-bathroom apartments). All units are currently occupied, generating a strong net operating income (NOI) of $114,056. The asking price is $1,950,000, translating to $326.31 per square foot. The 2,220 square foot lot features a brick and stucco exterior, stone and masonry foundation, and a mix of hardwood, tile, and carpet flooring. Individual tenant metering for electricity, hot water, and gas heating is in place. Central air conditioning and wall units are installed, along with a hardwired smoke and fire system and an audio intercom system. In-hallway laundry facilities are available. This property benefits from the area's significant recent development and the vibrant commercial corridor of N. 2nd Street, offering a dynamic mix of retail, dining, and entertainment options. The property's strong occupancy and cash flow make it an ideal investment for those seeking to capitalize on the continued growth of Northern Liberties.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1414
- Latitude
- 39.9618
