1428 Callowhill Street, Philadelphia, PA for sale

Investment Overview

Investment Highlights

• Size: ±11,513 SF (±0.26 AC) development site in the heart of Philadelphia's North Broad Street corridor
• Zoning: Zoned CMX-5, Philadelphia's highest-density mixed-use zoning district
• Base FAR: 1,200%, supports approximately 138,000 SF of by-right buildable area, with additional density available through the City's zoning bonus programs
• Permitted: Previously approved and permitted for a 13-story, 162-unit residential building totaling 117,624 SF (designed by j2a Architects)
• Uses: By-right uses include multifamily, hotel, office, retail and mixed-use development
• Frontage: Approximately 101' of street frontage
• NOI: This property is currently bringing in $105,219 in NOI per year from current parking operations
• Location: Located just off Broad Street, directly across from Philadelphia Police Headquarters at 400 N. Broad St.
• Approximately 0.3 miles (a 5-minute walk) from the Pennsylvania Convention Center's Broad Street entrance
• Steps from SEPTA's Race-Vine (B Line) station, the official subway stop for the Convention Center, with Spring Garden station also nearby
• One block north of I-676 (Vine Street Expressway), with quick access to I-76, I-95 and the Ben Franklin Bridge
• Walking distance to City Hall, the Benjamin Franklin Parkway museum district, the Rail Park, Community College of Philadelphia and the Center City office core
• Existing surface parking use offers interim income potential during the entitlement and pre-development period
• Opportunity: Rare opportunity to acquire a high-density, transit-oriented land site on the northern edge of Center City