Buy a Garage on 7th Street?

We're always on the lookout for interesting development opportunities around town. And while a lone garage on the corner of 7th & Fernon isn't as exciting as, say, the Frankford Chocolate Factory, it could still represent an interesting property for the right person.

The building

Heading to Center City from Souh Philly the other day, we came upon 1613 S. 7th St., whose owners opted for an ominous spray paint sign to deter people from blocking their driveway. The property is 16' wide by 64' deep, and the building currently covers the entire parcel, as you can see above. The block of Fernon Street is all two-story homes, and up 7th Street is a mix of three story homes and a smattering of retail.

Looking up 7th Street

The property is listed for just under $180K at the moment, which seems a little high for a wide open garage in South Philly. A developer could come forward and demolish the garage and build a new home on the corner. The listing suggests that it could also be a fit for artists looking for loft space. Alternately and perhaps least optimally, the space could remain as is and store food trucks or something like that.

We could certainly see why the property would be interesting to developers/eventual buyers or artists. It's just a few blocks away from Passyunk Avenue and all the good stuff that comes with it. The wonderful Dickinson Square Park is just two blocks to the east. When the price comes down a little, we'll be fascinated to see what eventually happens with this property, whether it's demolition or renovation. Either one works for us.