Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1920
Sq.Footage
N/A
7904-06 Germantown Avenue is an exceptional investment opportunity in the upscale neighborhood of Chestnut Hill in Philadelphia. The property consists of two buildings located on vibrant Germantown Avenue, the main business artery in the heart of one of the region’s most desirable go-to locations. Fronting Germantown Avenue are two store fronts and five one-bedroom apartments. The rear building, formerly a garage, is approached from a driveway off Springfield Avenue, and contains two one-bedroom apartments. The property has a steady income stream with a historically very low vacancy rate. This factor offers the sharp investor a chance to formulate and achieve the highest and best use of the property, your vision, while maintaining a constant income stream. Most apartments have hardwood floors, high ceilings and great natural light. Particularly appealing to tenants, all but one have a private outdoor area, either a deck or patio. One apartment has its own parking space. The currently occupied store is rented to an upscale resale clothing business. The other store in the past was variously a retail tile store, a dentist's office and a retail plant store. Current rents are low with comparable Chestnut Hill properties and the opportunity for increased income is high. The property is currently zoned two commercial spaces and for 5 residential apartments. Chestnut Hill hosts a wide variety of restaurants, boutique shops, two brew pubs and an upscale boutique hotel, all of which draw high foot traffic all year long to Germantown Ave. Retail exposure is well established in Chestnut Hill. The Avenue has a Fresh Market Grocery Store and a Weavers Way Coop Store. Two highly attended seasonal outdoor festivals occur each year, the Springtime Home and Garden Festival and Autumn Fall for the Arts Festival which bring in thousands of shoppers, revelers, and foodies to the Avenue. Restaurant Week in August, Clover Outdoor Markets, Halloween on the Hill, Stag and Doe Shopping before Christmas are just some of the strong pulls to local businesses. There is a very active Chestnut Hill Business Association. Surrounding Chestnut Hill is the vast City Park System with miles of hiking and biking trails, Morris Arboretum and Chestnut Hill College among many other points of interest. Come see this property on the Avenue in Chestnut Hill for a wonderful chance to be part of the Avenue.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.14
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Construction Materials
Brick, Stone, Stucco
Financial
-
Sales Price
$1,475,000
-
Tax Amount
8054.0
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Location
County
PHILADELPHIA
Elementary School
JOHN STORY JENKS SCHOOL
Middle School
JOHN STORY JENKS SCHOOL
High School
GERMANTOWN
Listing Courtesy of Jan LeSuer , Elfant Wissahickon-Chestnut Hill
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Owner, President, Investment Property Advisor
TheresaKehler
Call Theresa today to schedule a private showing.
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