Property Type : Multi-Family Home
Property Style : N/A
Build Size : 3,833 ft² / 356 m²
Land Size : N/A
Bedroom : 0
Bathroom : 0
Half Bathroom : 0
Introducing 1602 S Broad St! This mixed-use property, conveniently located on Broad street offers a huge value-add opportunity, boasting over 3,800 square feet. The commercial unit served previously as a podiatry office, and thanks to its proximity to Methodist Hospital, could easily be rented to a medical professional with a total of 1,320 SQFT available. The first unit has almost 1,000 SQFT with large windows overlooking Broad street and allowing tons of natural lighting in. The large floor plan can easily be renovated to make an estimated amount of $1,650 per month. The third unit is currently vacant, and with upgrades has the potential to make about $1,700 a month with a total square footage of about 1,000. Tenants will have access to all of Philadelphia's best spots, with its location in the the desirable neighborhood of Newbold, and ideal access to the Broad Street line. With the abundance of shopping available on Passyunk Ave and the close proximity to downtown, there is no shortage of things to do for any tenant. With capital improvements, there is a potential to make an annual NOI amount of $45,605 at a cap rate of 7.02%. Act fast, this property is bound to sell quickly!