417-421 South Street, the Snipes Building, is a mixed-use property spanning approximately 33,000 square feet with strong in-place income sources and ample value-add opportunities. This newly renovated three-story office/retail building boasts a completely redone façade, wall-to-wall professional window displays on all three floors, new HVAC, and updated street-level signage. Its only vacancies are 6,000 square feet on the basement level and 9,000 square feet on the third floor. These are listed non-exclusively at annual rates of $10 per square foot for the basement and $15 per square foot for the third floor. An appraisal was completed in December 2025 for $7.4 million based on the Regus income projection. Gross rent income is estimated to reach $798,000 by 2028, and all tenants pay for PECO (property operating expenses), water, sewer, and security. Snipes accounts for $270,000 in yearly income. The new Regus location is projected to provide $88,000 net revenue in 2026*, $222,000 in 2027, $290,000 in 2028, and $333,000 per year from 2029 to 2036. Leasing the vacancies can then provide an additional $195,000 in yearly revenue. Tax expenses are approximately $93,000, insurance is $39,027, and the South Street Tax is $9,558. NOTE: IMPORTANT REGUS (9000 SQ) UPDATE. RATHER THAN BEING 20% OCCUPIED BY DEC 31, 2026, REGUS IS NOW ADVISING THAT THE BUILDING WILL BE 67% OCCUPIDED BY MID-APRIL & 73.5% BY MAY. SHOULD BRING US TO 100% OCCUPANCY BY THE END OF 2026. $300-$330,000 CASH FLOW PER YEAR BY YEAREND VS $88,000-YEAR 1. The Snipes Building is one of the largest and best-quality properties on Philadelphia’s sought-after South Street, an active cosmopolitan thoroughfare of boutiques, renowned restaurants, nightlife, and more. This vibrant corridor continues to see youthful development, as evidenced by the 150-unit apartment building coming 50 yards away at Bainbridge and 5th. Its position between the Society Hill and Queen Village neighborhoods is a strong advantage for long-term value. Major landmarks like Independence Hall and the Liberty Bell are steps away, complemented by the city’s best dining and shopping destinations.