1616-22 Mckean St Philadelphia, PA 19145
- Warehouses
- 4,900 SF
Current Use by Public Records
- Warehouses
Property Details for 1616-22 Mckean St
- Year built
- 1920
- Property size
- 4,900 SF
- Property type
- Warehouses
- Property subtype
- Office Properties & Spaces
Description
This exceptional 4,900 square foot industrial property presents a rare redevelopment opportunity in Philadelphia's vibrant South Philly neighborhood. Located at 1616-22 McKean Street, this single-story, 1920-built warehouse sits on a 4,900 square foot lot (70' x 70'), currently zoned I-2 (Medium Industrial). The property is being offered at $1,200,000 ($244.90/sq ft) and includes two loading docks. Currently operating as an auto repair shop, the property will be delivered vacant upon settlement. The month-to-month lease expires December 31, 2024. This prime location, near East Passyunk Avenue, South Broad Street, and Washington Avenue, offers easy access to public transportation, restaurants, and employment centers. The thriving New Bold neighborhood exhibits strong rental demand and significant appreciation potential, fueled by recent construction activity. The I-2 zoning allows for a variety of development options, including multi-unit residential, office space, or mixed-use projects. Prospective buyers are encouraged to independently verify zoning regulations with the City of Philadelphia to confirm project feasibility. Utilities including sewer, electric, and water are readily available. This unique corner lot presents a compelling investment opportunity to capitalize on South Philadelphia's booming real estate market.
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
- -75.1733
- Latitude
- 39.9259
