
Francisville Adaptive Reuse and Parking Lot
Mixed Use | 14,646 SqFt
Marketing description
MSC Retail, Inc. has been exclusively retained to arrange the sale of 1221 N 17th Street & 1621-37 W Flora Street (the "Property"), a redevelopment site comprising 14,646 SF in Philadelphia's Francisville neighborhood, one of North Philadelphia's most active submarkets for residential and mixed-use investment. The Property sits within a designated Federal Opportunity Zone and qualifies for the City of Philadelphia's 10-year tax abatement on new improvements - two complementary incentive structures that together present a compelling and time-sensitive case for acquisition.
The site encompasses a 17,000 SF brick-and-concrete former convent, a 5,000 SF surface parking lot, and approximately 1,800 SF of one-story garage structures. The convent is well-suited for adaptive reuse: the facade is in excellent condition, a new TPO roof was installed in 2020, and the interior features a reinforced concrete frame, three stair towers, and a full elevator serving basement to roof. The L-shaped floor plate, with windows every three to seven feet on all exposures, provides exceptional natural light throughout. Within walking distance are multiple grocers, neighborhood retail, and the Broad Street Line - positioning the Property as a rare, transit-accessible redevelopment opportunity in an undersupplied submarket.
Investment highlights
- Designated Federal Opportunity Zone
- Qualifies for City of Philadelphia's 10-year tax abatement on new improvements
- 17,000 SF brick-and-concrete former convent well-suited for adaptive reuse
- Facade in excellent condition
- New TPO roof installed in 2020
- Reinforced concrete frame with three stair towers and full elevator serving basement to roof
- L-shaped floor plate with windows every 3-7 feet on all exposures
- 5,100 SF surface parking lot
- Approximately 1,800 SF of one-story garage structures
- Walking distance to multiple grocers, neighborhood retail, and Broad Street Line
- Transit-accessible redevelopment opportunity in undersupplied submarket
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