2003 North Front Street is a street to street mixed use building located just steps from the Berks El Station on the border of Fishtown and East Kensington. This property is a 2 minute walk to the subway which connects commuters into downtown Philly in under 20 minutes and its just a 2 minute walk to the bustling Frankford Avenue commercial corridor featuring some of the areas most notable retailers, restaurants and destinations. There are hundreds of new units being built in the immediate vicinity.The building currently has two residential units and a ground floor retail space. The residential entrance is on Amber Street, which allows the full Front Street side of the building to be utilized for the retail storefront.This property, which is within a Federal Opportunity Zone (QOZ), is a value add, transit oriented development opportunity. The CMX2.5 parcel is a perfect candidate for an overbuild concept, which will increase the residential square footage. There is also potential to include part of the first floor on the Amber Street side of the structure into the residential floorplate, which would result in two bilevel apartments. The large basement could be finished and provide additional retail space. Bonuses could allow for more residential units to be added within the building. Disclosure: All tools and trade fixtures in the retail space are included in the sale, which provides additional value to the transaction. Property will qualify for Philadelphia's 10 year tax abatement with a full renovation. This location is in extreme demand amongst millennial renters for its hip factor, convenience, and accessibility.
THE SCHOOL DISTRICT OF PHILADELPHIA
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Listing information last updated on November 22nd, 2019 at 6:04am CST.