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24727664
24727665

4021-25 Market Street, Philadelphia, PA 19104

MPN Realty, Inc.
MPN Realty, Inc.
Listed by MPN Realty, Inc.
$2,850,000
328 days on market
Updated 24 days ago
Opportunity zone

4021-25 Market St & 4024-26 Filbert St

Details
Property Type Mixed Use, Multifamily (+1)
Sub Type Development Opportunity
Square Footage 22,192
Net Rentable (SqFt) 22,192
Units 4
Occupancy 100%
Tenancy Multi
Lease Type NNN
Lease Options Month-to-month
Broker Co-Op Yes
Year Built 1915 & 1940
Buildings 4
Stories 2
Lot Size (SqFt) 13,072
Zoning CMX-4
Investment Type Redevelopment
Sale Condition For sale by owner

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.

Listing Contacts

MPN Realty, Inc.
MPN Realty, Inc.
Listed by MPN Realty, Inc.

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