4021-25 Market St & 4024-26 Filbert St
DEVELOPMENT OPPORTUNITY IN HEART OF UNIVERSITY CITY
Marketing description
Located in the heart of University City neighborhood of Philadelphia. The property consists of three parcels, all with two-story buildings plus basements, which are inter-connected by various stairwells and doorway openings throughout each building. The Market Street parcels contain 60’ of frontage, and stretch from Market Street to Filbert Street, with garage access in the rear. The Filbert Street property runs about half the length of the block towards Market Street. The property is currently being leased by a Furniture store on a month-to-month basis with 30 day notice to vacate. Zoning for the properties is CMX-4, which allows for development such as Multi-Family, Adult & Child Care, Community Centers, Government Administration, Business and Professional Offices, Retail and Restaurant Uses, and Research & Development businesses.
The properties are also located in a Qualified Opportunity Zone, which provides an immediate benefit to investors of
deferring payment of capital gains tax that would be paid, until 2026. The SEPTA Market-Frankford subway line runs along Market Street with a station located at 40th Street, just half a block away from the subject properties. It is the busiest SEPTA route, averaging 170,000 boardings per day. The subway runs east and west from the 69th Street Transportation Center through Center City, and then north and south from N. Front Street in Olde City to the Frankford Transit Center in North Philadelphia.
The properties are situated in a Mixed Income Overlay District.
Investment highlights
Large open floor plan.
16’ high ceilings
Qualified opportunity zone
Rear loading off of Filbert Street
Large basement
Wide staircase
60’ frontage on Market Street
NEIGHBORS INCLUDE:
Penn Medicine, University of Pennsylvania, Drexel University, HUB on Chestnut, The Radian, Shoppes
at Penn, Ronald McDonald House, Distrito, Rosa’s Fresh Pizza, Hai Street Kitchen & Co., City Tap House,
Smokey Joe’s, Hip City Veg, Rite Aid.
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