Construction has begun in the rapidly developing Bellwether District. This property offers a rare investment opportunity featuring two street-to-street parcels totaling approximately 0.55 acres with multiple income streams.The ±4,800 SF warehouse is leased on a yearly basis for $4,500 per month and includes a kitchen area and three overhead doors. The adjoining lot is rented for $1,500 per month. In addition, a V-sign on the property produces $2,041.67 per month, with approximately 3.5 years remaining on the lease. The sign company also contributes $9,800 annually toward real estate taxes.Total monthly income is $8,041, with $9,800 per year in tax reimbursement. There is potential to convert the sign to digital, which could significantly increase rent and property value.Located along one of Philadelphia’s highest-traffic corridors near I-676, this property is positioned for continued growth and long-term appreciation within the expanding Bellwether District.
Listed By
Agency Name: KW Empower
Agency Phone: 2156273500
Shown By
Agent Name: Mike & Monica Nelson Team
Agent Phone: Cell: (410) 627-9990
Agency Title: Berkshire Hathaway HomeServices Homesale Realty
3204 Vare Avenue | MLS# PAPH2424392
This commercial property located at 3204 Vare Avenue, Philadelphia, PA 19145 is currently listed for sale with an asking price of $2,000,000. Vare Avenue is located within the THE SCHOOL DISTRICT OF PHILADELPHIA school district. Search Philadelphia real estate on www.mikenelsonrealtor.com today.