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1604 RIDGE AVENUE - COMMERCIAL/RESIDENTIAL 1604 Ridge Ave 2,488 SF 100% Leased Retail Building Philadelphia, PA 19130 $700,000 ($281.35/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Good foot traffic, excellent location to Broad Street, Temple University and Fairmount Avenue
EXECUTIVE SUMMARY
**FRANCISVILLE COMMERCIAL BUILDING WITH 2 APARTMENTS IN GREAT CONDITION**The 1st Floor Commercial space has a remote security door and is complete with high ceilings, custom reception area, big open floor plan, modern kitchen, convenient restroom and a spacious bonus room for storage, office or whatever you envision. Basement access is interior via the first floor, includes Bilco doors from exterior and houses the mechanicals. There is a separate entrance for the residential units. Unit 2 is occupied paying $1,350 per month. Unit 3 is vacant. Both units feature engineered wood flooring, bedroom carpeting, modern kitchens, modern 3-piece bathrooms with sleek tile and vanities, ductless heating/cooling and convenient individual hallway laundry on each floor. This is a great location for the condition and price. The close proximity to Broad Street, Temple University, Center City and Fairmount Avenue can't be beat. Schedule your showing today or call for a private tour.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,488 SF
Building Class
C
Year Built
1930
Price
$700,000
Price Per SF
$281.35
Cap Rate
10%
NOI
$70,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.90
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
CMX2.5 - Commercial Mixed Use allows for neighborhood-serving retail and service uses, as well as residential uses above the ground floor
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (82)
Bike Score®
Very Bikeable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 871088150 | Improvements Assessment | $312,240 |
| Land Assessment | $78,060 | Total Assessment | $390,300 |
PROPERTY TAXES
Parcel Number
871088150
Land Assessment
$78,060
Improvements Assessment
$312,240
Total Assessment
$390,300
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