274 S 20TH ST, Philadelphia, PA 19103

Property Description

Located on the southeast corner of 20th and Spruce Street, one block from Rittenhouse Square Park, 274 S 20th Street is a well maintained three story mixed use building in the heart of Center City’s most prestigious neighborhood. The first and second floors together with the lower level are occupied by the established Heng Feng Restaurant under a secure long term lease. Additionally, discussions regarding a potential buyout of the commercial tenant may be considered, providing an investor the opportunity to deliver the building fully vacant if desired. The tenant is responsible for nearly all operating expenses, providing stable and essentially passive commercial income. The third floor consists of a three bedroom one bath apartment featuring hardwood floors and central air. Currently occupied by the owner’s family, the unit will be delivered vacant at settlement and can immediately achieve market rent conservatively estimated at $2,500 per month. Zoned CMX5 with excellent visibility and surrounded by Philadelphia’s premier retail, dining, and corporate addresses, the property sits within easy walking distance of the city’s core business district, 30th Street Station, Suburban Station, the Schuylkill River Park and trail system, and the region’s top hospitals and universities. Residents and tenants enjoy immediate proximity to Philadelphia’s finest restaurants including Parc, Rouge, Barclay Prime, and Vernick, all within a few blocks. This property offers an outstanding opportunity to acquire a cash flowing asset in one of the city’s most sought after locations.

Listing Status:

Active

Listing Office:

Compass Pennsylvania, LLC : 2674358015

Listing Agent:

Jaiden Makhoul : 2676255700

MLS ID:

PAPH2560690

Interior

• A/C: Central A/C
• Heating: CentralNatural Gas
• Disability Feature: 36"+ wide Halls

Construction

• General: Masonry

Location

• Originating MLS: BRIGHT_MAIN
• School District: PHILADELPHIA CITY
• County: PHILADELPHIA-PA

Lot

• Zoning: CMX2882011960

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN
• Exclusions: Tenant owned furniture in the restaurant (chairstablesetc)all tenant personal propertyany apartment tenant personal belongings.

This listing courtesy of Jaiden Makhoul, Compass Pennsylvania, LLC