1118 Walnut St - Storefront Retail/Office FOR SALE


Philadelphia, PA 19107- Midtown Village
$3,000,000 USD
215-454-2878
1118 Walnut St, Philadelphia, PA for Sale
$3,000,000 USD
Storefront Retail/Office - FOR SALE
1/7
null | Request Cap Rate

1118 Walnut St
Philadelphia, PA 19107
Midtown Village


HIGHLIGHTS

  • Premium Midtown Village Location: More Institutional Investment/Development than Anywhere Else in Philadelphia
  • Prime Redevelopment Opportunity: Open Floor Plates, Ample Light and Air, Prime Retail Corridor
  • Surrounded by Ed’s and Med’s: Adjacent to Jefferson University Hospital and Pennsylvania Hospital
  • Abundant Neighborhood Amenities: Walk to James Beard Award-Winning Restaurants, Coffee Shops, and High-End Shopping
  • Immediate Access to Public Transportation: Short Walk to the 11th Street Station on the Market-Frankford Line

OVERVIEW

Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in 1118 Walnut (the “Property” or “Asset”). The Property is a 10,000-square-foot commercial building zoned CMX-4 in the Midtown Village neighborhood of Philadelphia. This section of Center City is the most institutionally invested area in all of Urban Philadelphia. The East Market Project, culminating with the construction of the Thomas Jefferson Special Care Pavilion, marks over $1B invested in the surrounding blocks. The Property is directly East of Rittenhouse Square and one block from Jefferson University Hospital, positioning it to be redeveloped for a multitude of uses. 1118 Walnut is ripe for repositioning. The street retail space could feature anything from food service to e-tailers. The upper floors are elevator-served and could host any business that is looking for proximity to Ed’s and Med’s but does not need street-level exposure. The fourth-floor two-bedroom apartment is a full-floor apartment and offers a penthouse-like feel with vaulted ceilings and direct elevator access into the unit. The Property’s upper levels could also be developed into apartment units, while leaving the street retail for a commercial tenant. Essentially, 1118 Walnut is a blank canvas with permissive zoning, historic charm, and a prime location. The Asset is located minutes from major thoroughfares such as I-76, I-676, and I-95, providing unparalleled access to the Philadelphia MSA. It is also transit-oriented to allow tenants access to public transportation via the 11th Street Station on the Market-Frankford Line, as well as numerous bus and trolley stops carrying commuters throughout the Philadelphia Region.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$300 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Redevelopment Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1902

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,500 SF

ZONING

CMX-4

APN/PARCEL ID

882626320

ASK ABOUT THIS PROPERTY

215-454-2878

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215-454-2878

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