274 S 20Th Street

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 Citys 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 owners 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 Philadelphias premier retail, dining, and corporate addresses, the property sits within easy walking distance of the citys core business district, 30th Street Station, Suburban Station, the Schuylkill River Park and trail system, and the regions top hospitals and universities. Residents and tenants enjoy immediate proximity to Philadelphias 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 citys most sought after locations.