Storefront Retail/Residential

Highlights

• 4,000 SF Building consisting of of 3 single-bedroom residential units and 1 commercial unit
• New fast casual Ban Mi restaurant rents the storefront commercial unit for $4,000 per month NNN for 5-years with an additional 5 year renewal option. The rents increase after 3 years
• Unit A rented at $1,595 per month
• Unit B is currently vacant but will be probably rented at around $1,600 per month
• Unit C rented at $1,600 per month
• Total Gross is $8,795 per month, $105,545 per year
• Real estate taxes cost $1,616 per year with approximately 5 years left on tax abatement
• Common area PECO cost is $45 a month
• Philadelphia Water Company costs approximately $190 per month
• Insurance costs $7500 per year
• Wet Sprinkler System
• Built in 2019
• Commercial is powered by gas while residential units are powered by electric

Description

4000 SF building on 0.02 Acres

Fishtown is a vibrant neighborhood known for its transformation from a primarily working-class area into a trendy and desirable neighborhood, attracting young professionals, artists, and families.

The residential submarket offers a mix of housing options such as historic row homes, new construction townhouses, and modern apartment buildings. Due to the significant redevelopment, rent prices have been rising, driven by demand. Many community-focused amenities, including parks, bike paths, and public transportation types. Residents are welcomed to a truly walkable urban environment in Fishtown.

Retail in Fishtown is diverse featuring a mix of local boutiques, trendy cafes, restaurants, bars, and art galleries. It is also home to several well-known music venues and cultural attractions. Growth in the residential sector complements retail as both have recently grown significantly. Key commercial corridors include Frankford Avenue and Girard Avenue due to the presence of popular shops, restaurants, and bars.

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