Address
116 S 23Rd Street, Philadelphia, PA
Price
$ 6,000,000
Property Attributes
- MLS#PAPH2314238
- TypeCommercial
- CountyPHILADELPHIA
- CityPhiladelphia
- Area19103
- Zip19103
- StyleRestaurant/Bar
- Year Built1900
- Taxes$ 12621
- Price$ 6,000,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage6185
- Lot Size2,614 SqFt
Data Source:
Bright MLS
Property Description
Introducing an exceptional commercial property nestled in the vibrant heart of Fitler Square! This prime establishment currently operates as a well-established bar and restaurant, offering a unique opportunity for entrepreneurs and investors alike. Boasting a coveted CMX-4 zoning, transferable liquor License and a prime corner lot, this property opens doors to a diverse range of possibilities. Location: Situated in the trendy Fitler Square neighborhood, the property enjoys high foot traffic and proximity to various amenities, making it an ideal spot for businesses seeking visibility and accessibility. Usage: Currently operating as a successful bar and restaurant, the space is versatile and can accommodate various business concepts, from upscale dining to trendy nightlife experiences. The current owner is also open to moving back in as a tenant. Zoning: The property is zoned CMX-4, providing flexibility for a wide array of commercial uses. This zoning classification allows for mixed-use development, making it an attractive option for those looking to explore residential and/ or retail opportunities. The end use will determine the max height that someone could build. Liquor License: A significant advantage is the inclusion of a transferable liquor license, simplifying the process for businesses in the food and beverage industry. This valuable asset adds an extra layer of appeal for entrepreneurs looking to capitalize on the thriving hospitality scene. Spacious Interior: The property boasts a generously sized interior, providing ample space for creative layout designs and optimal utilization. The first floor bar / Restaurant consists of 2,948 sq ft. The second and third floors consist of 2 apartments. Apartment 1: 2 beds, 2 baths, 2,004 sq ft and is owner occupied but has the rental potential of around $3000/ month. Apartment 2 : 2 beds, 2 baths 1,233 sq ft. It is currently vacant and a white box, but could have a rental potential of $2500/ month. Outdoor Seating Potential: Explore the option to incorporate outdoor seating, creating an inviting atmosphere for patrons to enjoy al fresco dining or drinks. Established Clientele: Benefit from an existing customer base, thanks to the property's current operation as a popular bar and restaurant. Seller is open to becoming a tenant and still operating the bar/ Restaurant. Seize the opportunity to own this prime commercial property in Fitler Square, where the dynamic blend of location, zoning, and a transferable liquor license sets the stage for success. Whether you're a seasoned restaurateur, an aspiring entrepreneur, or an investor with a keen eye for prime real estate, this property promises a gateway to a thriving business venture. Act now and be part of the flourishing commercial landscape in one of Philadelphia's most sought-after neighborhoods!
| Price History | |
|---|---|
| 1/24/2024 | Listed $6,000,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air,Radiator |
| Cooling | Heat Pump(s) |
| Possession | Negotiable |
| Roof | Flat,Rubber |
| Zoning | CMX4 |
| Construction Materials | Masonry |
| Exclusions | Armoire in the primary Bedroom of the apartment above the bar. Fireplace mantle and tile in the living room of the apartment above the bar. |
| Year Built | 1900 |
| Property SubType | Mixed Use |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Business Type | Restaurant/Bar |
| Accessibility | Doors - Lever Handle(s) |
| County | PHILADELPHIA |
| New Construction | No |
| Property Type | Commercial Sale |
| Possible Use | Bar/Tavern/Lounge,Apartment Building,Apartments,Beer/Wine/Liquor,Commercial,Development,Food & Beverage,Food Market,Hotel/Motel,Convenience Store,Investment,Mixed Use,Multi-Family,Restaurant |
| Water Access Y/N | No |
| Property Use | Owner User |
| Status | ACTIVE |
| Directions | Use GPS |
| ModificationTimestamp | 2024-05-18T07:01:19 |
| City | PHILADELPHIA |
| Buyer Agent Compensation | 2.5 |
| Disclosures | Lead Based Paint - State,Prop Disclosure |
| MLS Area | 19103 (19103) |
| Lot Size Square Feet | 2600.00 |
| Tax Assessed Value | 901700.0 |
| Waterfront Y/N | No |
| Street Name | 23RD |
| Tax Annual Amount | 12621.0 |
| Property Condition | Very Good |
| Price Per Sq Ft Total | 970.09 |
| Acceptable Financing | Conventional,Cash |
| Vacation Rental Y/N | No |
| Virtual Tour | https://www.youtube.com/watch?v=R5AIV1PfHK8 |
| Days on Market | 116 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 166 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Flooring | Hardwood |
| Hot Water | Natural Gas |
| Heating Y/N | Yes |
| Street Suffix | STREET |
| Central Air Y/N | No |
Exterior Features
| Water Source | Public |
|---|---|
| Inclusions | All of the Kitchen/ Bar equipment,Liquor License,Bar/ Restaurant furniture |
| Type of Parking | None |
| Land Use Code | IB0 |
| Water View Y/N | No |
| Building Area Total | 6185.00 |
| Lot Dimensions | 50.00 x 52.00 |
| Lot Size Acres | 0.06 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 180344.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 19103
Price
Taxes
Visits
Year Built
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