209-15 FAIRMOUNT AVE, Philadelphia, PA 19123
209-15 FAIRMOUNT AVE, Philadelphia, PA 19123,Video Tour
209-15 FAIRMOUNT AVE, Philadelphia, PA 19123
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Graceann Tinney

Graceann Tinney

+1(267) 373-8244
Listed by Jennifer Gezon • Styer Real Estate
$3,500,000
Est. payment /mo
5,009 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Subdivision Northern Liberties

MLS Listing ID PAPH2482266

Year Built 1848

Annual Tax Amount $9,798

Tax Year 2024

Lot Size 5,009 Sqft

Acres 0.11

Lot Dimensions 67.00 x 75.00

Property Sub-Type Retail

Source BRIGHT

Property Description

This offering presents a rare opportunity to acquire two contiguous CMX-2.5 zoned properties in the heart of Northern Liberties, combining stabilized income with long-term flexibility.
The portfolio includes the mixed-use commercial building at 209–215 Fairmount Avenue and the adjoining parcel at 705 N American Street, together providing a 7,550 SF combined footprint — a scale increasingly difficult to assemble in the neighborhood.
The property is leased through December 31, 2026 and produced $228,998 in total income in 2025. After full operating expenses, including property taxes, the asset generates approximately $203,500 in Net Operating Income, representing a 5.8% cap rate at the offering price.
The existing lease term provides stable income while a buyer evaluates long-term plans and pursues planning or entitlement work, with a defined transition point at the end of 2026.
The tenant has expressed interest in renewing; however, any future lease extension would be subject to negotiation with the new owner. This structure provides flexibility for continued income stabilization or repositioning following the current lease term.

Assemblage Overview
• 7,550 SF Contiguous Assemblage
• Two Parcels: 209–215 Fairmount Avenue & 705 N American Street
• CMX-2.5 Zoning – Mixed-Use Development Potential
• Located in Northern Liberties
• Income in Place Through 12/31/2026
• Defined Transition Timeline for Repositioning or Redevelopment

209–215 Fairmount Avenue (Primary Building) MLS# PAPH2482266

• Grand Second-Story Theatre Hall with Open-Span Volume
• Preserved Theatre-Era Allegorical Ceiling Panels
• 18' Pressed Metal Ceilings with Decorative Cornice Detailing (Main Level)
• Original Interior Woodwork and Architectural Detailing
• Hardwood Flooring on Upper Level
• Full-Building Basement with 10'+ Ceiling Height
• Significant Ceiling Volume Rare for Buildings of This Era
• Adaptive Reuse or Conversion Potential

705 N American Street (Contiguous Parcel) MLS# PAPH2452904

• Vacant Paved Lot (Separate Parcel)
• Secondary Access
• Enhances Assemblage Scale and Site Configuration Flexibility

Showings are limited to evenings after 6 PM and weekends to accommodate the current tenant. Virtual access available via 3D tour.

Location

State PA

County Philadelphia

Area 19123 (19123)

Zoning CMX2.5

Interior

Hot Water Natural Gas

Heating Hot Water, Forced Air

Cooling Central A/C

Flooring Wood, Vinyl, Carpet, Tile/Brick

Inclusions Blower in basement

Heat Source Natural Gas

Exterior

Garage Spaces 4.0

Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available

Water Access N

Roof Type Rubber

Street Surface Black Top

Accessibility None

Road Frontage City/County

Total Parking Spaces 4

Garage N

Building

Lot Description Additional Lot(s)

Foundation Stone, Brick/Mortar, Slab

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Philadelphia City

Others

Tax ID 882017730

Ownership Fee Simple

Security Features Fire Detection System,Security System

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

Financing Cash,Conventional,Exchange

Special Listing Condition Standard

Virtual Tour https://my.matterport.com/show/?m=uSN3csedn4A&brand=0&mls=1&

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Bright MLS (BMLS)

NEARBY SCHOOL & BUSINESS

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Graceann Tinney

Graceann Tinney

Agent RSRS344523

+1(267) 373-8244

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209-15 FAIRMOUNT AVE

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