228-232 South St, Philadelphia, PA 19147

1.5 baths, 3,200 sqft
Off Market
Zestimate®: $1,510,746
Rent Zestimate®: $2,236/mo
 
 
 
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Excellent opportunity for a bar/restaurant at a great corner location on South St (Corner of South & American). Space to be finished and fitted out and is to be leased in as is conditio. Lease space includes all of 1st floor and most of the basement (3,200 sq ft total). Liquor license included in lease (license not for sale). 1st floor has 2,000 sqaure feet to set up seating area and kitchen. Drywall work completed. All rough and some finish electric completed. All rough plumbing completed. Sprinkler system completed. Alarm system. Corner location that would be great for cafe seating. Busy South St location. Leased basement space is about 1,200 sqaure feet which can be used for food prep and storage. TRIPLE NET LEASE Expenses include $667 (Property Taxes) $584 (Insurance) $150 (Center City District Charge) $TBD (Use & Occupancy Tax) Tenant also pays for seperate gas, electric, water, and trash removal Landlord looking for a 5 year lease with option to purchase at $3,000,000  MoreLess
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Facts
  • Lot: 1,936 sqft
  • Single Family
  • Built in 1920
  • Last sold: Sep 2004 for $920,000
Features
  • View: Territorial
    Construction
    • Exterior material: Brick
    • # Stories: 4.0
    Other
    • Floor size: 3,200 sqft
    • Lot depth: 44
    • Lot width: 45
    • Parcel #: 871011900
    • Zillow Home ID: 90196923
    Home Values
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    $1,510,746
    +$150,127 Last 30 daysd
    $574K
    $2.99M
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    $2,236/mo
    -$194 Last 30 daysd
    $1.3K
    $4.5K
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    Neighborhood for 228-232 South Street

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    Zillow predicts Old City home values will rise 2.9% next year, compared to a 0.5% increase for Philadelphia as a whole. Among Old City homes, this home is valued 295.3% more than the midpoint (median) home, and is valued 33% more per square foot.

    Foreclosures will be a factor impacting home values in the next several years. In Old City, the number of foreclosures waiting to be sold is 52.9% less than in Philadelphia, and 28.3% lower than the national average. This lower local number could help Old City home values rise more quickly than other regions in Philadelphia.

    Learn more about forecast calculations or Old City home values.
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