MLS® ID: PAPH725688
3102-04 N BROAD STREET
PHILADELPHIA, Pennsylvania, 19132 $530,000
Opportunity Zone development! Real estate investments made by individuals through special funds in these new zones can defer or eliminate federal taxes on capital gains. One hundred billion dollars in capital are expected to spur development in these zones. Over 35' of prominent frontage on North Broad! Over 5500 employees looking for housing at your doorstep! This by-right 93' deep CMX3-zoned development parcel is located on the booming North Broad corridor where dozens of active-stage new construction projects are underway, reinvigorating a classic commercial corridor in Philadelphia. Short walk to Temple Hospital, a world-class employer. Tenants are waitlisted in nearby apartment buildings because there is such high demand for new high-quality housing in this area, with medical professionals and graduate students eager to lease market-rate apartments.On the same block as SEPTA Broad St subway with direct rail connection into Center City Philadelphia (transit-oriented development aka TOD). Rents for 2bd units in this submarket range from 1300-1500/unit. International real estate investors have hundreds of millions of dollars in capital in active-stage development around the North Philadelphia Amtrak Station. There are also a handful of historical adaptive reuse (residential and mixed-use) projects underway in the immediate vicinity. This area is poised to blow! Also available as a package deal: 3 more development parcels for multifamily new development. Inquire within for full details, conceptual plans + more. CMX3 zoning = 500% FAR + 250% bonuses allowed by-right. This is one of the most highly-coveted zoning designations in Philadelphia for mid-rise mixed-use Buyer must propose new development plans to community/city after purchase in order to gain approvals + build.