MLS#PAPH2649528
STATUSACTIVE
PROPERTY TYPECommercial -
SCHOOLPHILADELPHIA CITY
Property Description
Rare Rittenhouse / Center City development opportunity at 1423 Spruce Street, Philadelphia, PA 19102. It is the best development in the Center City. This CMX-5 development site is approved for a 7-story mixed-use building with approximately 17,010.5 gross square feet, 26 residential units, and approximately 1,450 square feet of ground-floor commercial space. The approved residential program includes 21 studio apartments and 5 one-bedroom apartments, plus basement utility/storage areas, bicycle storage, elevator service, two exit stairs, roof deck, and roof-deck access structure. Major zoning and historic review milestones have been completed, significantly reducing entitlement risk and saving the next owner substantial time. Architectural and MEP plans are currently being finalized. Located in one of Philadelphia’s strongest rental and lifestyle corridors, the property is steps from Rittenhouse Square, Avenue of the Arts, Broad Street, Jefferson, Pennsylvania Hospital, Washington Square West, Midtown Village, restaurants, shopping, offices, transit, and Center City employment demand. This is an attractive opportunity for developers, investors, builders, boutique multifamily operators, and buyers seeking a highly visible approved mixed-use project in a premier Philadelphia location. CMX-5 zoning may also allow flexibility for alternative concepts, including boutique hotel or visitor-accommodation use, subject to buyer verification and all required approvals, permits, licenses, and code review. Sale includes available zoning drawings, architectural plans, floor plans, elevations, massing materials, and due diligence information upon request. Qualified buyers are encouraged to submit proof of funds with offers.
Property Features
Property Type: Commercial -
Cooling: Central A/C
Fuel Type: Natural Gas
Heating: Central
Lot Size: 0.06 Acres
Roof Type: Asphalt
Taxes: $11,548
Year Built: 1981
Feature Descriptions
Accessibility: 36"+ wide Halls,2+ Access Exits
Exterior: Masonry
Lot Dimensions: 0.06 Acre(S)
Municipality: PHILADELPHIA
Sewer: Public Sewer
Total Garage/Parking Spaces: 4
Water: Public
Local Schools
School District: PHILADELPHIA CITY
Listed By / Shown By
Listed By
Agency Name: Philly Real Estate
Agency Phone: 2157220800
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
1423 Spruce Street | MLS# PAPH2649528
This commercial property located at 1423 Spruce Street, Philadelphia, PA 19102 is currently listed for sale with an asking price of $1,590,000. Spruce Street is located within the PHILADELPHIA CITY school district. Search Philadelphia real estate on www.realtymark.net today.