It’s not often that we highlight commercial properties for sale, but this string of four properties are worthy of consideration given their prime location by two major high-rises currently under construction nearby.
The four properties for sale are located at 152, 154, 156, and 158 N. 2nd Street, just down the street from the Ben Franklin Bridge. They’re currently owned by a family that has run a restaurant equipment distribution company for 100 years. Currently, two buildings and two lots are located on the 6,525-square-foot site.
So why does it matter? The location is currently seeing a large amount of development. Listing agent Marcello Ciurlino points to nearby high-rises that are currently under construction or at least close to completion: The Bridge on Race Street and One Water Street. "There’s just so much going on down there. It’s becoming another part of Center City that is on the riverfront of the Delaware River."
That’s why Ciurlino put the properties for sale in one $3.9 million bundle because he says together they could make for a "really nice mixed-use development," with potential to continue a line of retail along the corridor. Though it should be noted that the properties are zoned ZMX-3 for industrial/commercial use, so variances would be needed for residential.
- Mapping the 29 high-rises currently under construction [Curbed Philly]
- Developer pays up in lieu of affordable housing deal at One Water Street [Curbed Philly]