5740-5760 Market St | Philadelphia, PA 19139
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- LoopNet Team
5740-5760 Market St
Philadelphia, PA 19139
5740 Market | Single Tenant Government Office · Office Property For Sale
INVESTMENT HIGHLIGHTS
- 100% occupied by the Commonwealth of Pennsylvania Department of Public Welfare. The Commonwealth is an investment grade credit tenant rated A+ by S&P.
- Tenant has occupied this location since 2003 and extended for another 5yrs in June 2022 offering an investor roughly 6 years of term remaining.
- One block from the 56th Street Station on SEPTA’s Market-Frankford Line, there is a SEPTA bus stop directly in front of the property.
- Annual CPI increase (max of 5%/year) on the additional rent which creates compounding yield growth throughout the hold period.
- The subject property offers the rare urban amenity of off-street parking spaces for the exclusive use by the tenant’s customers and employees.
- QOZ tax savings plus opportunity to achieve higher yields vs. present by selling or redeveloping five vacant residential lots
PROPERTY FACTS
Property Type
Office
Building Size
47,200 SF
Building Class
B
Year Built
1940
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
23,600 SF
Building FAR
1.39
Lot Size
0.78 AC
Zoning
I-2; CMX-3
AMENITIES
- Fenced Lot
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 883078550 | Improvements Assessment | $2,800,000 |
| Land Assessment | $700,000 | Total Assessment | $3,500,000 |
PROPERTY TAXES
Parcel Number
883078550
Land Assessment
$700,000
Improvements Assessment
$2,800,000
Total Assessment
$3,500,000
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