5501-9 Walnut St

$1,000,000

$1,000,000

5501-9 Walnut St

Sq Ft
1,815
Bedrooms
0
5501 Walnut Street Pa 19139 5501-9 Walnut St , United States

Investor Alert! 10 Cap Development opportunity on high traffic commercial corridor. This rare development opportunity is in an up and coming area of West Philadelphia. This is an enormous corner property ripe for development and located right near the 56th St Terminal for the Market Frankford Train Line, 2.5 miles from 30th St Station and I-76 entrance. The property is currently being used as an auto repair shop which has a 7,494 Sq/Ft lot with a 1,815 Sq/Ft Garage/Office zoned CMX-2.

By right you are able to build:

Gross Square footage: 23,980 Sq/Ft

Total Units: 15 units

Total Acquisition and Construction:

Purchase Property: $1,000,000

Total Soft Cost: $50,000

Total Project Costs: $2,697,750

Total Acquisition and construction: $3,747,750

Cap Rate on Cost:

Net Income: $390,597.46

Total Acquisition and construction: $3,747,750

Capitalization Rate of Return on Cost: 10.422%

Courtesy of Ergo Real Estate Company