PA
PHILADELPHIA
19146
2943 REED STREET
2943 REED STREET, PHILADELPHIA, PA 19146
Listing Type
commercial/industrial
Listing Status
under contract
39
$500,000

Home Details for 2943 REED STREET

Price
$500,000
Type
Commercial Sale
Bedrooms
0
Bathrooms
0.0
Square feet
NaN
Year built
1940
Lot size acres
0.07
Garage
Days on site
60
MLS Listing#
PAPH2393148
Listing courtesy: RE/MAX @ HOME - 2156073535
Property Description

Discover a prime investment opportunity in the vibrant Grays Ferry neighborhood! This versatile corner property, currently utilized as a Child Learning Center and Day Care Facility, offers a wealth of potential. Ideal for investors looking to add a cash flowing property to their rental portfolio with tons of upside. The property is currently occupied by a tenant on a 5 year triple net lease which started in April of 2024. The monthly rent for the 1st year is $5,564 ($66,768/year) with a 3% increase each year of the lease. The property is zoned CMX-2 which can be a development opportunity turning this into a mixed use multi-family property by right. The building sits on 100% of the lot which is 3,100 Sq/Ft. Featuring spacious rooms, modern amenities, and a flexible layout, this corner property has a ton of options for what it can be used for once the current lease expires. Its prominent location in a thriving community adds additional value, making it an excellent choice for a development project. Don’t miss out on this chance to capitalize on a property with a proven track record in a growing area. Schedule your visit today and envision the possibilities!

Property Features
  • Cooling Information
    • Central A/C
  • Heating Information
    • Central
  • Water Features
    • Public
IDX listing information is from various brokers who participate in IDX and provided courtesy of Bright MLS. Property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Information contained on this website provided by MRIS is deemed reliable but not guaranteed ©2024 Bright, All Rights Reserved.
Last Updated: 2024-09-24 01:32:46
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Market statistics compiled from data from Bright MLS.
EXIT ELEVATE REALTY
1450 Grays Ferry Ave. 1st Floor, Philadelphia, PA 19143
Office
215 623 6000
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