209 FAIRMOUNT AVE # 15 Philadelphia PA 19123-2915

Prime NNN Investment or Redevelopment Potential in Northern Liberties

Positioned in the heart of one of Philadelphia’s consistently desirable neighborhoods, This nearly 10,000 SF mixed-use property is home to a thriving childcare facility operating under a stable, Triple Net (NNN) lease with 1 year remaining, tenant eager to renew. With an NOI of 183,000 and cap rate of 5.9% this property offers stable, long-term income with minimal landlord responsibilities. Zoned CMX-2.5, the site also presents excellent mixed-use residential redevelopment potential for future value creation.

Originally constructed as a church and later transformed into one of the city’s first four major theaters, the building boasts rich historic character, including original ceiling murals and repurposed stage elements. With open flexible floor plans, soaring 18–20 ft ceilings, and a zoning classification that supports a variety of commercial and residential uses, the property is well positioned for future adaptive reuse. An adjacent vacant lot is also available for purchase, enhancing the redevelopment potential of the site to a total land footprint of 7,550 square feet.

Just steps from premier dining, art galleries, and nightlife in Northern Liberties—and within close proximity to Penn’s Landing, Old City, and vibrant Fishtown—this offering represents a rare opportunity to acquire a high-performing, income-generating asset with significant long-term upside in one of Philadelphia’s most coveted neighborhoods.

Easy accessibility to Public Transit & Highways – Conveniently located near I-95, I-676 on-ramps.​

Property viewing times are limited to evenings after 6:00 PM and weekends due to the business operations of the current tenant.​ A 3D tour and property website are available for a comprehensive virtual tour of the building due to the limited in person showing times.​

• website link: http://www.209-15fairmountave.com/

• Mixed-Use (Adaptable Commercial Space)

• Building Size 9,700 Sq Ft

• Lot Size 5,009 Sq Ft · Property Taxes 9,798

• Net Operating Income: $183,000 per year

• Lease Type: Triple Net (NNN)

• Lease Term: Long term with auto renew 6+ years remaining

• Tenant: Established Child Care Facility With Intent to Renew

• Virtual Tour: https://my.matterport.com/show/?m=uSN3csedn4A&brand=0&mls=1&

This offering presents a rare opportunity to acquire two contiguous CMX-2.5 zoned properties in the heart of Northern Liberties, combining stabilized income with long-term flexibility.​

The portfolio includes the mixed-use commercial building at 209–215 Fairmount Avenue and the adjoining parcel at 705 N American Street, together providing a 7,550 SF combined footprint — a scale increasingly difficult to assemble in the neighborhood.​

The property is leased through December 31, 2026 and produced $228,998 in total income in 2025.​ After full operating expenses, including property taxes, the asset generates approximately $203,500 in Net Operating Income, representing a 5.8% cap rate at the offering price.​

The existing lease term provides stable income while a buyer evaluates long-term plans and pursues planning or entitlement work, with a defined transition point at the end of 2026.​

The tenant has expressed interest in renewing; however, any future lease extension would be subject to negotiation with the new owner.​ This structure provides flexibility for continued income stabilization or repositioning following the current lease term.​

Showings are limited to evenings after 6 PM and weekends to accommodate the current tenant.​ Virtual access available via 3D tour.​ 1st Floor and Basement 2nd floor

View more images and interactive floorplans at: Photo/Floor plan website

Assemblage Overview

• 7,550 SF Contiguous Assemblage

• Two Parcels: 209–215 Fairmount Avenue & 705 N American Street

• CMX-2.5 Zoning – Mixed-Use Development Potential

• Located in Northern Liberties

• Income in Place Through 12/31/2026

• Defined Transition Timeline for Repositioning or Redevelopment

209–215 Fairmount Avenue (Primary Building)

• Grand Second-Story Theatre Hall with Open-Span Volume

• Preserved Theatre-Era Allegorical Ceiling Panels

• 18’ Pressed Metal Ceilings with Decorative Cornice Detailing (Main Level)

• Original Interior Woodwork and Architectural Detailing

• Hardwood Flooring on Upper Level

• Full-Building Basement with 10’+ Ceiling Height

• Significant Ceiling Volume Rare for Buildings of This Era

• Adaptive Reuse or Conversion Potential

705 N American Street (Contiguous Parcel)

• Vacant Paved Lot (Separate Parcel)

• Secondary Access

• Enhances Assemblage Scale and Site Configuration Flexibility

Investment Profile

• $203,500 NOI

• 5.8% Cap Rate at $3,500,000

• Lease Through 12/31/2026

• Tenant Has Expressed Interest in Renewal (Subject to Negotiation)

• Income Carry During Planning and Entitlements