1016 Race Street Philadelphia, PA $ 650,000
1016 Race Street
$ 650,000
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1016 Race Street

Philadelphia, PA, 19107
$ 650,000
Baths0.0 Sq 14,000

Monthly Estimate*

$ 3,893

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Studio

Commercial Property for sale in Philadelphia, PA

for $650,000. This 14,000 square foot building was built in 1890 on a lot size of 0.17.

REDUCED PRCE for QUICK SALE! Don't miss your opportunity for a unique Investment Opportunity in the Heart of Chinatown! Liquor License Available! Seize the opportunity to own a thriving business with a long-term lease, strategically located in the vibrant heart of Chinatown. This prime property boasts: National Long-Term Tenants: Secure your investment with existing leases held by reputable national long-term tenants. This stability not only ensures a consistent income stream but also lays a solid foundation for the future success of your venture. Profitable at 40% Occupancy: Witness unparalleled financial efficiency! The current rent roll covers the majority of expenses even at a mere 40% occupancy. Imagine the potential for increased profitability with strategic leasing and management. Versatile Spaces: This property offers versatile spaces, providing the canvas for your entrepreneurial vision. Whether you bring in new concepts or tenants, the possibilities are limitless. Customize and curate a dynamic mix that resonates with the energy of Chinatown. Long-Term Lease in Place: Benefit from the security of a long-term lease, providing stability and peace of mind for your investment. Your business can thrive and evolve over the years, establishing itself as a cornerstone of the community. Chinatown's Pulse at Your Doorstep: Immerse yourself in the vibrant culture and energy of Chinatown. With this central location, your business becomes an integral part of the local scene, attracting a diverse and engaged audience. Global Appeal, Local Charm: Embrace the global allure of Chinatown while maintaining the charm of a local business. This unique combination positions your investment as a magnet for both locals and visitors seeking an authentic experience. Your Vision, Your Success: Unleash your creativity and business acumen this is your chance to shape the future of a prime property in the heart of Chinatown. Take the reins, bring in fresh concepts, and watch your investment flourish. Don't miss out on this unparalleled business opportunity. Contact us now to explore the endless potential that awaits you in Chinatown!

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Commercial Active

Price

$ 650,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 42,614

Style

General Retail,Restaurant/Bar,Storage

Lot Size

0.17

Year Built

1890

Town/City

Philadelphia

County/Region

Philadelphia

MLS | Web ID

PAPH2317142

Features
Interior
Heating Fuel Natural Gas
Hot Water Multi-tank
Heating Y/N Y
Central Air Y/N N
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General
Sewer Public Sewer
Heating Central
Possession Settlement
Zoning CMX4
Construction Materials Masonry
Year Built 1890
Property SubType Retail
Tax Year 2024
Current Use Bar Food & Beverage Restaurant Retail Office Other
Municipality PHILADELPHIA
Gross Income 20300.00
Business Type Other Other/General Retail Restaurant/Bar Storage
Accessibility 48 + Halls 36 + wide Halls
Business Name Ctown Management LLC
County PHILADELPHIA
New Construction N
Property Type Business Opportunity
Water Access Y/N N
Status ACTIVE
Directions Between 10th and 11th Street on Race
City PHILADELPHIA
MLS Area 19107 (19107)
Lot Size Units Square Feet
Lot Size Square Feet 7223.00
Waterfront Y/N N
Tax Annual Amount 42614.0
Price Per Sq Ft Total AG 46.43
Acceptable Financing Cash Conventional Private Other Joint Venture Lease Purchase Negotiable
Vacation Rental Y/N N
Days on Market 211
Standard Status Active
Year Built Source Assessor
Tax Lot 252
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Exterior
Water Source Public
Type of Parking On Street
Water View Y/N N
Building Area Total 14000.00
Lot Dimensions 42.00 x 169.00
Lot Size Acres 0.17
Lot Size Source Assessor
Land Assessed Value 608857.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 1016
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* Excluded Features
List By
Ocf Realty Llc - Philadelphia

Broker

jung@ocfrealty.com

Email

Affordability Calculator

$7,444
Per Month
52%
48%
0%
Monthly Principal & Interest
$3,893
Monthly Property Taxes
$3,551
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
6/3/2024$650,000 -13.33% Price Down
1/30/2024$750,000 Listed Price

Map


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1016 Race Street, Philadelphia, PA, 19107 is a Commercial Property for sale at $650,000 with 14,000 sqft and a lot size of 0.17. 1016 Race Street is a studio with 0.0 baths and was built in 1890. The property's zip code is 19107 which is in Philadelphia, PA