PA > Philadelphia > West Philadelphia
Philadelphia, PA 19139,5300-2 MARKET ST
Philadelphia, PA 19139,5300-2 MARKET ST
Philadelphia, PA 19139,5300-2 MARKET ST
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$990,000
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5,964 SqFt
Price Dropped by $160K

5300-2 MARKET ST Philadelphia, PA 19139

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Candis Goines

Candis Goines

+1(223) 257-9661

UPDATED:

12/16/2024 02:21 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 5,964 sqft

Price per Sqft $165

Subdivision West Philadelphia

MLS Listing ID PAPH2400822

Originating Board BRIGHT

Year Built 1925

Annual Tax Amount $5,194

Tax Year 2024

Lot Size 2,921 Sqft

Acres 0.07

Lot Dimensions 35.00 x 83.00

Property Description

West Philadelphia Opportunity Zone: 35' X 83' Corner, commercial building (CMX-2) two story building and full basement, built on the entire lot line in West Philly with construction going up in every direction and a variety of new businesses, one block from the 52nd street El entrance. The second floor has multiple entries to the street level. The price is for the property and equipment, not the liquor license. The current use is a bar and restaurant. Past use of the second floor was a boutique lounge, having multiple entrances to the street level. The owner is willing to sell with the liquor license at an additional cost. The occupancy as a bar/restaurant is 285 patrons on the 1st floor, 224 on the 2nd for a total of 509 people. One of the largest capacities in this area. The bar has been in business for 20 years including a license for takeout service. Modern kitchen with huge exhaust system and all electric cooking appliances is included in the property sale. POTENTIAL IF PURCHASING THE LIQUOR LICENSE: 1) expand the first-floor pub to include more seating and unique cuisine restaurant. 2) Use the second floor as a specialty lounge. 3) Rent as catering hall for weddings, banquets and meetings. POTENTIALS WITHOUT THE LIQUOR LICENSE: 1) Add height to the building for five stories and use it for residential unit income. 2) Tear down and new build, using CMX-2 to build on the entire footprint. Please note, Buyers need to do their own due diligence for any future development plans and the statements here are only suggestions only verification of the potential uses.

Location

State PA

County Philadelphia

Area 19139 (19139)

Zoning CMX2

Interior

Hot Water Electric

Heating Other

Cooling Ductless/Mini-Split

Flooring Ceramic Tile, Laminated, Hardwood

Inclusions Kitchen Equipment, Bars and seating.

Heat Source Electric

Exterior

Water Access N

Accessibility None

Road Frontage City/County

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 882573005

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Bright MLS (BMLS)
Listed by Nathan S Naness • KW Empower

Learn More About LPT Realty

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Candis Goines

Agent | License ID: RSR005768

+1(223) 257-9661

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5300-2 MARKET ST