209-15 FAIRMOUNT AVE Philadelphia, PA 19123
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,700 sqft
Price per Sqft $319
Subdivision Northern Liberties
MLS Listing ID PAPH2452892
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 Mixed Use
Source BRIGHT
Property Description
Positioned in the heart of one of Philadelphia's consistently desirable neighborhoods,This nearly 10,000 SF mixed-use property is home to a thriving childcare facility operating under a stable, Triple Net (NNN) lease with 6 years remaining. With an NOI of 183,000 and a cap rate of 5.9% this property offers stable, long-term income with minimal landlord responsibilities. Zoned CMX-2.5, the site also presents excellent mixed-use residential redevelopment potential for future value creation.
Originally constructed as a church and later transformed into one of the city's first four major theaters, the building boasts rich historic character, including original ceiling murals and repurposed stage elements. With open flexible floor plans, soaring 18–20 ft ceilings, and a zoning classification that supports a variety of commercial and residential uses, the property is well positioned for future adaptive reuse. An adjacent vacant lot is also available for purchase, enhancing the redevelopment potential of the site to a total land footprint of 7,550 square feet.
Just steps from premier dining, art galleries, and nightlife in Northern Liberties—and within close proximity to Penn's Landing, Old City, and vibrant Fishtown—this offering represents a rare opportunity to acquire a high-performing, income-generating asset with significant long-term upside in one of Philadelphia's most coveted neighborhoods.
Easy accessibility to Public Transit & Highways – Conveniently located near I-95, I-676 on-ramps.
Property viewing times are limited to evenings after 6:00 PM and weekends due to the business operations of the current tenant. A 3D tour and property website are available for a comprehensive virtual tour of the building due to the limited in person showing times.
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
Inclusions Blower in basement
Heat Source Natural Gas
Exterior
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
Garage N
Building
Foundation Stone, Brick/Mortar
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 882017730
Ownership Fee Simple
SqFt Source Assessor
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&
