Philadelphia, PA 19123,1001-9 POPLAR ST
Philadelphia, PA 19123,1001-9 POPLAR ST
Philadelphia, PA 19123,1001-9 POPLAR ST
$3,200,000
Est. payment /mo
$3,500,000
8.6%
Est.Price: ?

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1.36 Acres Lot
SOLD DATE : 08/14/2024

Key Details

Sold Price $3,200,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Subdivision Northern Liberties

MLS Listing ID PAPH2291330

Sold Date 08/14/24

Originating Board BRIGHT

Year Built 1965

Annual Tax Amount $25,059

Tax Year 2022

Lot Size 1.356 Acres

Acres 1.36

Lot Dimensions 400.00 x 21.00

Property Description

Turn- key investment with lots of options. 8.57% cap rate! 1001 Poplar St adjoins the Northern Liberties section of the city – a very hot real estate market area. This prime real estate opportunity, presents a unique blend of commercial and residential potential. This property currently has a long term lease in place for $25,000 per month triple net. All expenses covered by tenant – make incredible cash flow day one. Options are boundless – keep tenant in place and develop northern portion of the site. Or keep renting and hold onto it and develop it completely in the future.

Potential to build by right up to 25 home or create a thriving 37-home community. The versatile zoning permits a harmonious blend of residential and commercial development, catering to a range of investment strategies, and this property offers numerous pathways for revenue generation.

This is a rare opportunity to capitalize on a prime piece of real estate in the vibrant Northern Liberties section of Philadelphia. Whether you're looking to create a residential community, commercial development, or a mix of both, 1001-9 Poplar St presents a canvas for your investment vision. As an added incentive, the commercial tenant in place will continue to pay rent while you receive zoning approvals! Again, the buyer has the advantage of assuming the commercial lease, contact us for details. Don't miss out on this chance to be a part of Philadelphia's thriving real estate market. The property address is 1001 Poplar Street. It encompasses two previous properties that were subsequently consolidated into one, namely, 1001-1009 and 1011-1035 Poplar Street. Contact us today to explore this exceptional investment prospect.

Location

State PA

County Philadelphia

Area 19123 (19123)

Zoning RSA5

Interior

Hot Water None

Heating None

Cooling None

Heat Source None

Exterior

Water Access N

Accessibility Other

Garage N

Building

Sewer Public Hook/Up Avail

Water Public Hook-up Available

New Construction N

Schools

School District The School District Of Philadelphia

Others

Tax ID 882934737

Ownership Fee Simple

SqFt Source Assessor

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Danielle S. Py-Salas • EXP Realty, LLC
Bought with Danielle S. Py-Salas • EXP Realty, LLC

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agent

Bob Gauger

+1(240) 286-4447

Broker Associate | License ID: 312506

Broker Associate License ID: 312506

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