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432 W Allegheny Ave 128,208 SF 99% Leased Industrial Building Philadelphia, PA 19133 $7,200,000 ($56.16/SF)
Investment Highlights
- 432 W Allegheny Avenue is a 72,270 SF Industrial Commercial Mixed-Use parcel located along Allegheny Avenue between the highly developing neighborhood
- Overbuild development opportunity to add residential units to the existing 86,415 SF building plus 2,500 SF ancillary building.
- The site is adjacent to Plaza Allegheny, which is a fully developed neighborhood shopping center.
- There parking to the east of the main building between the furniture store and the dental clinic and parking to the west with 38 space.
Executive Summary
432 W Allegheny Avenue is a overbuild development opportunity to add residential
units to the existing 86,415 SF building plus 2,500 SF ancillary building. The rents
from the current tenants, Acelero Learning and Legacy Furniture, would be used to
offset costs while developing the second floor of the building. If necessary, the space
occupied by Legacy Furniture can be delivered vacant. The small building to the
east, currently leased by a dental clinic, can be demolished for a parking and delivery
entrance to be developed for apartments above. ICMX zoning which doesn’t allow
residential development. Seller will work with Buyer to gain approvals for zoning
variance. The Seller owns the adjoining shopping center.
PARKING: There parking to the east of the main building between the furniture store
and the dental clinic and parking to the west with 38 space.
units to the existing 86,415 SF building plus 2,500 SF ancillary building. The rents
from the current tenants, Acelero Learning and Legacy Furniture, would be used to
offset costs while developing the second floor of the building. If necessary, the space
occupied by Legacy Furniture can be delivered vacant. The small building to the
east, currently leased by a dental clinic, can be demolished for a parking and delivery
entrance to be developed for apartments above. ICMX zoning which doesn’t allow
residential development. Seller will work with Buyer to gain approvals for zoning
variance. The Seller owns the adjoining shopping center.
PARKING: There parking to the east of the main building between the furniture store
and the dental clinic and parking to the west with 38 space.
Property Facts
| Price | $7,200,000 | Lot Size | 1.74 AC |
| Price Per SF | $56.16 | Rentable Building Area | 128,208 SF |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Industrial | Year Built | 2018 |
| Property Subtype | Warehouse | Parking Ratio | 0.44/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | ICMX - primarily intended to accommodate commercial and low-impact industrial uses | ||
| Price | $7,200,000 |
| Price Per SF | $56.16 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.74 AC |
| Rentable Building Area | 128,208 SF |
| No. Stories | 2 |
| Year Built | 2018 |
| Parking Ratio | 0.44/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | ICMX - primarily intended to accommodate commercial and low-impact industrial uses |
Amenities
- Restaurant
- Signage
- Storage Space
- Monument Signage
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Floor
- 1,127 SF
- Retail
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 1,127 SF | Retail | - | Now |
1st Floor
| Size |
| 1,127 SF |
| Space Use |
| Retail |
| Build-Out |
| - |
| Available |
| Now |
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Very walkable
80/100
Moderately drivable
60/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 884605802 | Improvements Assessment | $1,209,810 |
| Land Assessment | $518,490 | Total Assessment | $1,728,300 |
Property Taxes
Parcel Number
884605802
Land Assessment
$518,490
Improvements Assessment
$1,209,810
Total Assessment
$1,728,300
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