209-15 Fairmount Avenue, Philadelphia, PA 19123

Property Description

MULTIPLE PROPERTY PACKAGE OFFERING- 2 CONTIGUOUS NORTHERN LIBERTIES PROPERTIES. Acquire two adjacent CMX-2.5–zoned assets in one of Philadelphia’s most coveted neighborhoods-Mixed-use building plus a contiguous vacant lot—at a combined price. Together they deliver stable income, immediate upside and premier redevelopment potential. 209-215 Fairmount Ave is an Iconic Mixed-Use 9700+ sq ft 2 level building with a 4500+ sq ft basement. The building retains much of it's historic character. Originally constructed 1805–1848 as a church, later became a theatre, social club, workshop and is currently a childcare facility—featuring original ceiling murals and a repurposed stage. 18–20 ft ceilings and open-plan on both floors are ideal for flexible commercial or residential conversion. Long term Triple Net (NNN) lease. Stable tenant with well established Childcare center. NOI $183,000. Lease expires 12/26, with optional renewal. 705 N. American St. MLS# PAPH2452904 is a Vacant Lot - 2,539 SF of buildable land. Currently functions as parking/play yard under the 209-215 Fairmount Ave NNN lease (same term). CMX-2.5—permits multi-story mixed-use redevelopment: luxury residential over ground-floor retail, boutique offices, flexible creative space with the ability to build up to 4-5 stories high. Combined Redevelopment Potential Total Footprint of both properties is approximately 7,550 SF (5,009 SF building lot + 2,539 SF vacant parcel). Immediate cash flow from the building lease paired with blank-slate development land is ideal for a signature mixed-use project or phased conversion. Northern Liberties walkable lifestyle means steps from premier restaurants, art galleries, nightlife, and community parks as well as being within walking distance to Penn's Landing and Old City. Easy access to transit & highways: Minutes to I-95 and I-676 on-ramps and adjacent to Market–Frankford Line station. Showings are limited to evenings after 6 PM and weekends to accommodate the current tenant. 3D tour available for comprehensive review of the building.

Property Features

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