2100-2120 W Allegheny Ave - Warehouse FOR SALE


Philadelphia, PA 19132- Allegheny West
$3,500,000 USD
215-454-2879
2100-2120 W Allegheny Ave, Philadelphia, PA for Sale
$3,500,000 USD
Warehouse - FOR SALE
1/3
null | Request Cap Rate

2100-2120 W Allegheny Ave
Philadelphia, PA 19132
Allegheny West


HIGHLIGHTS

  • Transit-Oriented Development: Proximity to Rail, Buses, and Major Highways
  • Qualified Opportunity Zone Investment: Both Defer and Eliminate Federal Capital Gains Taxes
  • Full 10-Year Tax Abatement: Renovation Projects Pay No Taxes on the Improvements for a 10-Year Period
  • Mixed-Use Development Project: Combine Apartments, Live-Work, and Other Qualified Uses to Maximize Value
  • Attractive Price Per Foot: Purchase Non-Combustible Construction at a Low Price Per Foot

OVERVIEW

Global Real Estate Advisors (GREA) is pleased to exclusively offer the opportunity to acquire the fee simple interest in the Steel Heddle Building located at 2100 W. Allegheny Avenue in the Allegheny West Neighborhood of Philadelphia (the “Project” or “Asset”). The Adaptive Reuse Project comprises 257,000 gross square feet of former industrial space, Zoned I1. The Asset is being offered as the opportunity to develop a transformative mixed-use project in a Qualified Opportunity Zone (or “QOZ”). An incoming buyer can harness the QOZ tax benefit, combined with a multitude of available tax credits, including LIHTC and Historic, to breathe new life into the structure at an attractive going-in basis. The Project reimagines the former Steel Heddle Manufacturing Company Complex into a combination of apartments, live-work space, and storage with ample parking. Built of non-combustible concrete and steel, the building can follow in the footsteps of many former industrial conversions by creating spaces with unmatched character. This is an opportunity to transform both the neighborhood and the real estate through a flagship development project. Future tenants will live directly across from the Allegheny Station on the Manayunk/Norristown Regional Rail Line, for access to Center City Philadelphia and Suburban Philadelphia, while also being minutes from major highways, including I-76, I-676, and I-95, providing access for motorists to the entire Philadelphia MSA.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$14 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Steel Heddle Building

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1919

UTILITIES

Water - City, Sewer - City

CLEAR CEILING HT

14 Ft

DOCKS

7

DRIVE INS

3

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.74

LAND SF

75,600

ZONING

I-1

APN/PARCEL ID

884557110

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.