355 Price St Philadelphia, PA 19144
- Flex space
- 2,399 SF
- 1.42 lot acres
Current Use by Public Records
- Flex space
Property Details for 355 Price St
- Year built
- 1960
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.42 lot acres
- Property size
- 2,399 SF
- Zone code
- ICMX
- Property type
- Flex space
- APN
- 88-4-2460-40
- APU
- 884246040
Description
This exceptional 1.42-acre parcel in Philadelphia, Pennsylvania, presents a compelling investment opportunity for the development of a self-storage facility. Located at 355 E Price St, Philadelphia, PA 19144, this property is situated in a high-growth area with a population exceeding 300,000 within a three-mile radius. The site boasts a significant advantage: self-storage development is permitted, allowing for a building up to five stories. This zoning characteristic, combined with the current low self-storage space per capita (under 5 square feet within a five-mile radius), indicates a substantial unmet demand for storage solutions. The asking price is $1,199,000. The property's location within a Top 10 Metropolitan Statistical Area (MSA) and Philadelphia's robust economy further enhance its investment potential. The potential for a multi-story self-storage development promises significant returns, capitalizing on the area's limited storage options and growing population. This is a rare opportunity to acquire land zoned for a high-demand, high-return business in a thriving urban environment. The property is ideally suited for an investor seeking to develop a modern, multi-story self-storage facility to meet the increasing needs of the Philadelphia community.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $590,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $715,000
- 6.5%
- $655,000
- 7%
- $695,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $740,000
- Geo Method
- $615,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $575,000
- Retail
- $590,000
- Mixed-Use
- $580,000
- Hospitality
- $640,000
- Educational
- $580,000
- Residential Income
- $560,000
- Energy
- $540,000
- Income-Based Land
- $670,000
- Food Service
- $605,000
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1714
- Latitude
- 40.0413
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
