Property

Philadelphia, PA 19107 1016 Race Street

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Presented By: OCF Realty LLC - Philadelphia
  • MLS# PAPH2317142
  • 02/01/2024
  • Request Tour
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  • SQFT • 14,000

Home Details

REDUCED PRCE for QUICK SALE! Don't miss your opportunity for a unique Investment Opportunity in the Heart of Chinatown! Liquor License Available! Seize the opportunity to own a thriving business with a long-term lease, strategically located in the vibrant heart of Chinatown. This prime property boasts: National Long-Term Tenants: Secure your investment with existing leases held by reputable national long-term tenants. This stability not only ensures a consistent income stream but also lays a solid foundation for the future success of your venture. Profitable at 40% Occupancy: Witness unparalleled financial efficiency! The current rent roll covers the majority of expenses even at a mere 40% occupancy. Imagine the potential for increased profitability with strategic leasing and management. Versatile Spaces: This property offers versatile spaces, providing the canvas for your entrepreneurial vision. Whether you bring in new concepts or tenants, the possibilities are limitless. Customize and curate a dynamic mix that resonates with the energy of Chinatown. Long-Term Lease in Place: Benefit from the security of a long-term lease, providing stability and peace of mind for your investment. Your business can thrive and evolve over the years, establishing itself as a cornerstone of the community. Chinatown's Pulse at Your Doorstep: Immerse yourself in the vibrant culture and energy of Chinatown. With this central location, your business becomes an integral part of the local scene, attracting a diverse and engaged audience. Global Appeal, Local Charm: Embrace the global allure of Chinatown while maintaining the charm of a local business. This unique combination positions your investment as a magnet for both locals and visitors seeking an authentic experience. Your Vision, Your Success: Unleash your creativity and business acumen this is your chance to shape the future of a prime property in the heart of Chinatown. Take the reins, bring in fresh concepts, and watch your investment flourish. Don't miss out on this unparalleled business opportunity. Contact us now to explore the endless potential that awaits you in Chinatown!
Presented By: OCF Realty LLC - Philadelphia

Interior Features for 1016 Race Street

Other Interior Features

Central Air Y/NNo
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterMulti-tank

General for 1016 Race Street

Acceptable FinancingCash, Conventional, Private, Other, Joint Venture, Lease Purchase, Negotiable
Accessibility48 + Halls, 36 + wide Halls
Business NameCtown Management LLC
Business TypeOther, Other/General Retail, Restaurant/Bar, Storage
CityPHILADELPHIA
Construction MaterialsMasonry
CountyPHILADELPHIA
Current UseBar, Food & Beverage, Restaurant, Retail, Office, Other
DirectionsBetween 10th and 11th Street on Race
Gross Income20300.00
HeatingCentral
Lot Size Square Feet7223.00
Lot Size UnitsSquare Feet
MLS Area19107 (19107)
ModificationTimestamp2024-10-07T22:08:23
MunicipalityPHILADELPHIA
New ConstructionNo
PossessionSettlement
Price Per Sq Ft Total AG41.79
Property SubtypeRetail
Property TypeBusiness Opportunity
Property UseInvestment
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Tax Annual Amount42614.0
Tax Assessed Value3044300.0
Tax Lot252
Tax Year2024
Vacation Rental Y/NNo
Water Access Y/NNo
Waterfront Y/NNo
Year Built1890
Year Built SourceAssessor
ZoningCMX4

Exterior for 1016 Race Street

Building Area Total14000.00
Car Parking Spaces
Land Assessed Value608857.00
Land Use CodeAB0
Lot Dimensions42.00 x 169.00
Lot Size Acres0.17
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Total Loading Docks0
Total Parking Spaces0
Type of ParkingOn Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Tina Torres

Broker/Owner
Price $585,000
MLS#PAPH2317142
List Date 02/01/2024
Property Type Business Op
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