12th & Vine St
Philadelphia, PA 19107
12th & Vine · Land For Sale · 0.56 AC

MPN Realty, Inc., is proud to present the 24,402 +/- SF site at the signalized corner of northeast corner of N. 12th Street and Vine Street. Boasting four frontages — 200’ on Vine Street; 88’ on N. 12th Street, 197’ on Pearl Street and 140’ along the Viaduct — this site is situated in a opportune location that is in the middle of a massive development boom. The site sits in the heart of the Callowhill neighborhood, directly across from Chinatown, steps from Broad Street and Philadelphia’s Central Business District. It also is next to the Viaduct, which is to be the second phase of the Rail Park and it has been proposed that the main entrance is at this site. The only building currently on the site is a gas station with a 1,760 SF store/vehicle repair garage building plus pump islands, underground fuel tanks and canopy. The lease is currently month-to-month, but the operator is very much interested in remaining at this location, which would allow a Buyer a continuous income flow, whether they decide to hold the asset or while they pursue zoning, permit approvals for development purposes. The property is located within a Qualified Opportunity Zone (QOZ). » LOCATION: Situated in the Callowhill neighborhood and just steps from Broad Street, Center City, Chinatown, Old City and the next phase of the proposed Rail Park, this signalized corner offers an opportunity for a high-in-demand development of a mixed-use, multi-family property. There is considerable development in the area and to meet the growing demand. » MONTHLY RENTAL INCOME Gas Station: $10,746 in base rent + other charges of $1,249 Parking Lot: $2,202 in base rent + other charges of $886 Total Income for rent + other charges: $15,083 Paid Separately: U&O: $606 for parking lot & $741 for gas station » TAX ABATEMENT: Beginning in 2021, the program will change for new applicants. Consult the city tax abatement website for more information. » ZONING: The parcels are all currently zoned CMX-4 which allows for neighborhood-serving retail and service uses, and multi-family residential uses. With such a significant size of vacant land, there are numberous options to increase density for new construction. » QOZ: The Property is situated within a Qualified Opportunity Zone and offers the developer the potential for significant tax benefits.