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39 3rd St Philadelphia, PA 19106-4508

OFF-MARKET Investment properties Google Maps
5,733 SF 0.04 ac lot Built 1900
Individually Owned 6-yr Hold ~ Est. High Equity
Estimated value (blended)
$1.70M
Range $1.53M – $1.87M (±10%)
Property ID US73-1443686

Property summary

AI-generated overview

This exceptional 1,317 square foot creative office space is ideally situated on North 3rd Street, the vibrant commercial heart of Philadelphia's Old City. The single-tenant property boasts high ceilings ranging from 9 to 10 feet, creating a bright and airy atmosphere. Tile flooring runs throughout the ground floor retail space, complemented by additional lower level space. The CMX-3 zoning allows for a diverse range of uses, making it perfect for a variety of businesses. Imagine your art gallery, salon, boutique fitness studio, or light food establishment thriving in this prime location. The space's versatility lends itself to creative offices and other similar ventures. Its central Old City location provides unparalleled access to the area's rich history, thriving cultural scene, and diverse clientele. This is a rare opportunity to secure a well-positioned, adaptable space in one of Philadelphia's most sought-after neighborhoods. The property's size and features make it an attractive option for businesses seeking a unique and stylish environment. Don't miss this chance to establish your business in this dynamic and historic setting.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1900
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 5,733 SF
Lot 0.04 ac (1,834 SF)
Zoning code CMX3
APN 87-1-2678-00
UPID US73-1443686

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel Resort

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.77M
CAP Approach CAP
$1.05M
Comparable Approach Comparable
$1.49M
Blend (final) Blend
$1.70M

Owner & transaction history

since 2020
Last sale
$1.7M
2 recorded transactions
2021
Price N/A
2020
$1.7M

Zoning & alternative use

CMX3 · Philadelphia, PA
Zoning description

CMX-3 Community Commercial Mixed-Use C-3 RC-3 CMX-4 Core Commercial Mixed-Use C-4 CMX-5 Center City Core Commercial Mixed-Use C-5 CA-1 Auto-Oriented Commercial-1 C-7 NSC CA-2 Auto-Oriented Commercial-2 ASC Eliminated >>…

General category MIXED_USE
Top alternative use upside
Restaurant $1.8M +24.5%
Office building $1.6M +13.1%
Apartment house (5+ units) $1.6M +11.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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