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231-235 N 2nd St
Philadelphia, PA 19106

$4,300,000 USD

Parking Garage For Sale  •  12,835 SF

Property Details

  • Property Type Parking Garage
  • Total Building Size 12,835 SF
  • Lot Size 0.13 AC
  • Building Class B
  • Year Built 2006
  • Tenancy Multiple
  • Zoning CMX-3
92 Transit Score
94 Walk Score

Description

Opportunity to acquire a significant share with majority control of deeded parking spaces within a condo parking garage in Old City, Philadelphia. With ownership of approximately 195 out of the total 281 spaces, a majority owner could have the authority to manage the garage's operations, establishing an income stream of both monthly and transient/daily customers and, if preferred, hiring a third-party management company. This kind of ownership could be highly valuable, especially in a historic neighborhood with limited parking availability.
Bulk Price for 195 spaces = approx $4,3M

Highlights

Old City is the touristic heart of Philadelphia
7 covered parking floors with one open air roof level
Easy access to 95 and Ben Franklin Bridge

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $427,465 USD (2024)
Total Expenses: $497,535 USD

Amenities

  • Property Manager on Site
  • On-Site Security Staff

Public Transportation

Commuter RailDriveWalkDistance
Market East (R1 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R2 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R3 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R5 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R6 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R7 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R8 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail)) 3 min 20 min 1.1 mi
Suburban Station (R1 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R2 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R3 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R5 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R6 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R7 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail), R8 - Southeastern Pennsylvania Transportation Authority Regional Rail (SEPTA Regional Rail)) 4 min - 1.9 mi
Transit/SubwayDriveWalkDistance
2Nd Street (Market-Frankford Line - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 1 min 7 min 0.4 mi
Spring Garden (Mfl) (Market-Frankford Line - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 2 min 8 min 0.5 mi
5Th Street (Market-Frankford Line - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 2 min 12 min 0.6 mi
Chinatown (Broad Street Line - Southeastern Pennsylvania Transportation Authority Rapid Transit (SEPTA Subway & Trolley)) 3 min 13 min 0.7 mi
8Th & Market St (Broad Street Line - Port Authority Transit Corporation Speedline (PATCO Speedline), Market-Frankford Line - Port Authority Transit Corporation Speedline (PATCO Speedline), PATCO Speedline - Port Authority Transit Corporation Speedline (PATCO Speedline)) 2 min 17 min 0.9 mi
AirportDriveWalkDistance
Philadelphia International 20 min - 11.5 mi
Trenton Mercer 47 min - 32.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Jennifer Ramsay 917-972-5501 Echochic Estates
Jennifer Ramsay 917-972-5501 Echochic Estates