Over five years ago, Passyunk Pharmacy, formerly a Rite Aid, at 1804 E Passyunk Ave., closed its doors. As the years have passed, the space has been on the market, gotten a new facade, come off the market, gone back on the market, and come off the market again this past July.
The space is quite large, especially for Passyunk Ave., with two floors each measuring about 2,500 sqft. At the time of its most recent listing, the asking price for the space was $2,900/mo for the first floor, and an additional $1,700 for the second floor.
And now it’s clear why the space hasn’t rented. At that price and in that location, that rent number is simply too high. And the lack of street level windows isn’t helping, either.
And it’s a shame, because there are not many other spaces of that size on the Avenue, and a space with this kind of square footage could attract a unique business for the area. And with ever more businesses opening on this exciting commercial stretch, this large vacant space casts an ever more prominent pall on the block.
So c’mon, people who own this property! Lower that rent number, would ya?
Just don’t rent it to these guys. Two pharmacies couldn’t make it work here, and we’re guessing a third wouldn’t, either.