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601 N 39th St
Philadelphia, PA 19104
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- MIXED-USE CONFIGURATION - Two residential units and one commercial unit provide income diversification.
- EFFICIENT EXPENSE ASSUMPTIONS-Pro forma expenses estimated at 22.7% of EGI, in line with comparable assets.
- PRO FORMA INCOME PROFILE-Financial metrics reflect market-based assumptions and projected stabilized performance
- MODERN CONSTRUCTION - Built in 2020, limiting near-term capital expenditure requirements.
- FULLY VACANT ASSET-Delivered vacant, allowing for immediate lease-up and repositioning.
- PRIME WEST PHILADELPHIA LOCATION-Proximity to universities, employment centers, and public transportation.
EXECUTIVE SUMMARY
601 N 39th Street, a fully vacant mixed-use multifamily property located in Philadelphia, PA 19104. The property consists of three units totaling approximately 3, 600 rentable square feet, including two three-bedroom apartments and one ground-floor commercial space on the corner of 39th street and Haverford Ave.
The asset is being offered vacant, providing an investor with immediate control over leasing strategy, tenant mix, and rental positioning. All income, expense, and return metrics presented herein are pro forma and based on market-supported assumptions. At the price of $725,000, the property is projected to generate a pro forma Net Operating Income of approximately $46,284, representing a projected cap rate of 6.38% upon stabilization.
The asset is being offered vacant, providing an investor with immediate control over leasing strategy, tenant mix, and rental positioning. All income, expense, and return metrics presented herein are pro forma and based on market-supported assumptions. At the price of $725,000, the property is projected to generate a pro forma Net Operating Income of approximately $46,284, representing a projected cap rate of 6.38% upon stabilization.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,600 SF
Year Built
2020
Price
$725,000
Price Per SF
$201.39
Cap Rate
6.61%
NOI
$47,923
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.17
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
CMX1 - CMX1-Neighborhood Commercial Mixed-Use-1
Frontage
16’ on 39th St
PROPERTY TAXES
| Parcel Number | 871603060 | Improvements Assessment | $184,640 |
| Land Assessment | $46,160 | Total Assessment | $230,800 |
PROPERTY TAXES
Parcel Number
871603060
Land Assessment
$46,160
Improvements Assessment
$184,640
Total Assessment
$230,800
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