1507-1511 LOCUST ST Philadelphia, PA 19102
UPDATED:
10/14/2024 06:51 PM
Key Details
Property Type Commercial
Sub Type Land for Commercial Use
Listing Status Active
Purchase Type For Sale
Square Footage 17,143 sqft
Price per Sqft $583
MLS Listing ID PAPH2398450
Originating Board BRIGHT
Year Built 1984
Annual Tax Amount $18,918
Tax Year 2006
Lot Size 8,283 Sqft
Acres 0.19
Property Description
Situated in the heart of Rittenhouse Square, one of Philadelphia's most prestigious neighborhoods, this prime location offers proximity to Rittenhouse Park, Broad Street, and Suburban Station, which services 13 regional rail lines facilitating daily commuter traffic. Additionally, the property provides convenient access to major thoroughfares such as I-76, I-676, and I-95, making it well connected to the broader region.
The surrounding area is characterized by a dense mix of residential, commercial, and retail establishments, creating a vibrant environment with ample foot traffic and a built-in customer base.
The property currently houses the well-known Misconduct Bar and Vesper Nightclubs, and the combined lot, totaling 8,283 square feet, is zoned CMX-5. This zoning designation allows for high-density residential and commercial development, making the location suitable for future projects with excellent growth potential.
This offering is ideal for a passive investor looking to collect rental income or an owner-user looking to establish their own business in a prime location. Given the density of the surrounding area and the favorable zoning, the site also presents an attractive opportunity for future development.
This is a rare chance to acquire a Grade A asset in one of Philadelphia’s most sought-after locations. For more details or to schedule a viewing, please contact Hunters Commercial.
Location
State PA
County Philadelphia
Area 19102 (19102)
Zoning C5
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 23-2901439
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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