PA > Philadelphia
Philadelphia, PA 19128,3847 TERRACE ST
Philadelphia, PA 19128,3847 TERRACE ST
Philadelphia, PA 19128,3847 TERRACE ST
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Simone Velvel

Simone Velvel

+1(703) 507-7614
Listed by Aimee Lucia Alexander • Compass Pennsylvania, LLC
$579,900
Est. payment /mo
2,918 SqFt
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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 2,918 sqft

Price per Sqft $198

MLS Listing ID PAPH2464620

Year Built 1900

Available Date 2025-04-10

Annual Tax Amount $5,039

Tax Year 2024

Lot Size 1,569 Sqft

Acres 0.04

Lot Dimensions 19.00 x 83.00

Property Sub-Type Mixed Use

Source BRIGHT

Property Description

Located just blocks away from the vibrant retail and dining scene on Main Street and Ridge Avenue, this prime corner building offers a fantastic investment opportunity in one of Philadelphia's most sought-after neighborhoods. With a total of 2,918 square feet, this mixed-use property combines residential and retail space, making it an ideal choice for investors looking to capitalize on both long-term rental income and the potential for a thriving retail business.

The first-floor retail space, previously a successful restaurant tavern, comes with a commercial kitchen space and hood system, walk-in cooler, bar layout and seating for 40-60 patrons. The property comes with the potential to acquire a liquor license, which will be sold separately from the property itself. This license allows for full-service alcohol service, including outdoor seating, offering tremendous flexibility for a bar or restaurant business. The CMX1 zoning permits additional uses including a deli/grocery store, daycare facility, boutique, financial services, pet store, or medical practice.

Above the retail space, there are two newly renovated 1-bedroom apartments on the 2nd and 3rd floors, each featuring modern updates including new flooring, stainless steel appliances, a washer and dryer in each unit and stylish new bathrooms. Located in a high-demand, thriving neighborhood, this mixed-use property is an excellent investment with great potential for both rental income and business ventures.

Location

State PA

County Philadelphia

Area 19128 (19128)

Zoning CMX1

Interior

Hot Water Natural Gas

Heating Hot Water

Cooling Central A/C

Heat Source Natural Gas

Exterior

Water Access N

Roof Type Flat

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 882935540

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, FHA, VA

Listing Terms Cash, Conventional, FHA, VA

Financing Cash,Conventional,FHA,VA

Special Listing Condition Standard

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Bright MLS (BMLS)
agent-avatar

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland, 20895, USA

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3847 TERRACE ST

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