Description
Phenomenal opportunity to own a neighborhood landmark in one of Philly's best locations. Investors or owner operators alike will recognize the rare chance to take possession of a building that represents a generational asset. The ground floor bar restaurant was gut renovated from the basement up to the main floor about 16 years ago and is fully turnkey. It offers a full kitchen, sit down and bar service, outdoor seating and live music. The current owner of the restaurant is on a NNN lease and owns the liquor license. The four 1 bedroom apartments are rarely vacant so contribute a reliable and predictable income stream to the investment or the owner/operator of the bar restaurant. The current owner offers 2 free laundry rooms to the residential tenants so additional revenue is possible if a new owner chooses to install coin operated units. There is also substantial upside with the residential rents. With cosmetic improvements to the apartments the rents could go as high as $1900 a month. Make your appointment today. You will not be disappointed.
-
0BEDS
-
0.05ACRES
-
0BATHS
-
01/2 BATHS
-
5,555SQFT
-
$351$/SQFT
Description
Phenomenal opportunity to own a neighborhood landmark in one of Philly's best locations. Investors or owner operators alike will recognize the rare chance to take possession of a building that represents a generational asset. The ground floor bar restaurant was gut renovated from the basement up to the main floor about 16 years ago and is fully turnkey. It offers a full kitchen, sit down and bar service, outdoor seating and live music. The current owner of the restaurant is on a NNN lease and owns the liquor license. The four 1 bedroom apartments are rarely vacant so contribute a reliable and predictable income stream to the investment or the owner/operator of the bar restaurant. The current owner offers 2 free laundry rooms to the residential tenants so additional revenue is possible if a new owner chooses to install coin operated units. There is also substantial upside with the residential rents. With cosmetic improvements to the apartments the rents could go as high as $1900 a month. Make your appointment today. You will not be disappointed.
©2023 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Shawn Martin Group | Keller Williams Flagship of Maryland. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2023-06-06T23:50:49.447.