$ 6,000,000
116-20 S 23RD ST Philadelphia, PA 19103
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$ 6,000,000
Est. payment /mo
Active
116-20 S 23RD ST Philadelphia, PA 19103
6,185 SqFt
UPDATED:
08/25/2024 07:13 AM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,185 sqft
Price per Sqft $970
MLS Listing ID PAPH2314238
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $12,621
Tax Year 2024
Lot Size 2,600 Sqft
Acres 0.06
Lot Dimensions 50.00 x 52.00
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!
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!
Location
State PA
County Philadelphia
Area 19103 (19103)
Zoning CMX4
Interior
Hot Water Natural Gas
Heating Forced Air, Radiator
Cooling Heat Pump(s)
Flooring Hardwood
Inclusions All of the Kitchen/ Bar equipment, Liquor License, Bar/ Restaurant furniture
Heat Source Natural Gas
Exterior
Waterfront N
Water Access N
Roof Type Flat,Rubber
Accessibility Doors - Lever Handle(s)
Parking Type None
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District The School District Of Philadelphia
Others
Tax ID 882934225
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
Listed by Brian Figgs • Coldwell Banker Realty
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