212 Race St, Unit 1A Philadelphia, PA 19106-1979
- Office Properties & Spaces
- 2,600 SF
- 0.06 lot acres
Jul 27, 2021
Current Use by Public Records
- Dr. Beatriz Mirabal Garces / Dental Office
- Garces Laboratories / Laboratory
- Race Street Dental Care / Dental Office
- Giantsky Marketing / Marketing & Advertising / (Bike/Boat/Book/etc) Store
- Stein Architecture Planning / Architect
Property Details for 212 Race St
- Year built
- 1900
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.06 lot acres
- Property size
- 2,600 SF
- Zone code
- CMX3
- Property type
- Office Properties & Spaces
- APN
- 88-8-0405-01
- APU
- 888040501
Description
This exceptional 1,820-square-foot commercial condominium is ideally situated at 212 Race Street, Unit 1C, in Philadelphia's vibrant Old City neighborhood. Built in 1900, this ground-floor space presents a unique opportunity for owner-occupants seeking a storefront retail location, office space, or a live/work arrangement. The asking price is $595,000, translating to $326.92 per square foot. The property is zoned CMX3, offering flexibility for a variety of commercial uses. Its prime location directly across from Tuna Bar and Bridge on Race Street ensures high visibility and foot traffic. The single-unit building provides a convenient and manageable space for a business owner. This is a rare chance to acquire a well-positioned commercial property in one of Philadelphia's most desirable and historic districts. The property's age and location contribute to its unique character and appeal, making it an attractive investment for those seeking a blend of historical charm and modern commercial viability within a bustling urban setting. This offering presents a compelling opportunity to establish a thriving business in a highly sought-after area of Philadelphia. The address is 212 Race Street, Philadelphia, PA 19106.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $700,000
- ML approach
- $705,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $610,000
- 6.5%
- $560,000
- 7%
- $520,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $555,000
Market price range: $171k - $609k -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $730,000 Current use
- COMMERCIAL (GENERAL)
- $645,000 Change: -12% Conversion: Easy
- MEDICAL BUILDING
- $640,000 Change: -13% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1435
- Latitude
- 39.9536
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA