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2301 Walnut St
Philadelphia, PA 19103
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Premier Location | Situated between University of Pennsylvania and Rittenhouse Square
- High-Density Zoning | CMX-4 zoning allowing for over 240,000 SF by-right
- Affluent, Growing Market | $145k+ avg. household income within 0.5 miles with steady population growth and strong rental rates averaging $4.50+ RSF
- Full City Block | Unencumbered by neighbors and high-rise obstructions
- Unmatched Institutional Access | Walking distance to UPenn, Penn Medicine, Drexel University, Market St, 30th St Station
EXECUTIVE SUMMARY
SCOPE is pleased to present the exclusive purchase opportunity of 2301 Walnut Street after 30 years of ownership.
Positioned between Philadelphia's most desirable neighborhood, Rittenhouse Square, and its largest institution, the University of Pennsylvania, 2301 Walnut sets the stage for a trophy high-rise development. Occupying an entire city block, the site is one of the few remaining large-scale parcels available for transformative redevelopment in Center City.
The location is in the crosshairs of all Philadelphia has to offer, including the largest Eds and Meds institutions to the West, the largest private and public employers to the North, the heart of retail and hospitality to the East, and innovation to the South.
The site’s CMX-4 zoning with bonuses equates to 1,200% FAR that offers developers the by-right ability to construct a wide range of mixed-use concepts—including luxury residential for rent or sale, life science/lab space, flagship retail, trophy office or hospitality. With zoning bonuses, the site supports over 240,000 square feet, excluding parking and core structure elements. The Southern elevation is positioned on Walnut Street, the city's most coveted retail corridor, boasting 100' of frontage with 23rd Street at 200'.
Positioned at the heart of Greater Center City, which holds over 42% of the city’s jobs and leads the region in residential and commercial growth, the property is surrounded by an affluent, educated, and growing population. Within a half-mile radius, average household income exceeds $145,000, and over 75% of residents hold a bachelor’s degree or higher, underscoring strong demand for high-end residential and lifestyle amenities. The surrounding market supports premium rents averaging $4.50/SF, with top-tier luxury buildings in Rittenhouse achieving rents over $5.00/SF.
Positioned between Philadelphia's most desirable neighborhood, Rittenhouse Square, and its largest institution, the University of Pennsylvania, 2301 Walnut sets the stage for a trophy high-rise development. Occupying an entire city block, the site is one of the few remaining large-scale parcels available for transformative redevelopment in Center City.
The location is in the crosshairs of all Philadelphia has to offer, including the largest Eds and Meds institutions to the West, the largest private and public employers to the North, the heart of retail and hospitality to the East, and innovation to the South.
The site’s CMX-4 zoning with bonuses equates to 1,200% FAR that offers developers the by-right ability to construct a wide range of mixed-use concepts—including luxury residential for rent or sale, life science/lab space, flagship retail, trophy office or hospitality. With zoning bonuses, the site supports over 240,000 square feet, excluding parking and core structure elements. The Southern elevation is positioned on Walnut Street, the city's most coveted retail corridor, boasting 100' of frontage with 23rd Street at 200'.
Positioned at the heart of Greater Center City, which holds over 42% of the city’s jobs and leads the region in residential and commercial growth, the property is surrounded by an affluent, educated, and growing population. Within a half-mile radius, average household income exceeds $145,000, and over 75% of residents hold a bachelor’s degree or higher, underscoring strong demand for high-end residential and lifestyle amenities. The surrounding market supports premium rents averaging $4.50/SF, with top-tier luxury buildings in Rittenhouse achieving rents over $5.00/SF.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
20,908 SF
Building Class
C
Year Built
1996
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.04
Lot Size
0.46 AC
Zoning
CMX-4 - Zoning is for high-density commercial areas It allows for high-rise buildings & mixed use developments, including retail, offices, and residential.
Parking
97 Spaces (4.64 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 882027455 | Improvements Assessment | $2,550,800 |
| Land Assessment | $637,700 | Total Assessment | $3,188,500 |
PROPERTY TAXES
Parcel Number
882027455
Land Assessment
$637,700
Improvements Assessment
$2,550,800
Total Assessment
$3,188,500
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