NoLibs Redevelopment Site (1143-47 North 3rd)

1143-1147 North 3rd Street; Philadelphia, PA 19123

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Property Details

  • Price$ 2,200,000
  • Property TypeCommercial
  • NeighborhoodNorthern Liberties
  • Number of Units-
  • Lot Size0.13 acres
  • Price/Unit-
  • Price/Bedroom-
  • Year Built-

Investment Highlights

  • Site Zoned for 24 Apartment Units and 2 “Live Work” Units
  • One of Philadelphia’s Most Desirable Neighborhoods
  • Outstanding Location
  • Significant Barriers to Entry
  • Real Estate Tax Abatement: Available for New Construction

Investment Overview
On behalf of ownership, Rittenhouse Realty Advisors extends to qualified investors the opportunity to acquire the fee simple interest in 1143-1147 North 3rd Street, a 5,472 ± SF site approved for (24) apartment units, (2) “Live Work” units and (8) parking spaces. As one of the most desirable neighborhoods in Philadelphia, Northern Liberties has established itself as the more mature, hip “older sister” to nearby Fishtown. The original Philadelphia “hipster” neighborhood, Northern Liberties has arrived and is now known as a “rich-ster” neighborhood. Residents of Northern Liberties enjoy easy access to Center City via the Spring Garden and Girard subway stops (Market-Frankford Line).

Strategically located just a block from the major roads of Girard Avenue and Second Street within Northern Liberties, this 5,472± SF development opportunity is one of the few remaining plots of land available in this high-density neighborhood. The site is two blocks from an ACME grocery market, The Schmidt’s Commons (TSC) bars, boutiques and restaurants, and the always popular Liberty Land’s Park. Northern Liberties is Philadelphia’s preferred residential neighborhood for young professionals. The demand for high-quality rental apartments in Northern Liberties is extremely strong. Occupancy in this sub-market is robust and typically in the 95%-100% range. In addition to a strong rental market, the Northern Liberties single family, townhouse and condominium residential markets are outstanding with many townhomes selling for well over one million dollars.

What started as an enclave for artists and designers is now a thriving area featuring million dollar townhouses and one of the most popular nightlife scenes in the city. 2nd Street is a hub of hip bars, restaurants, and boutique shopping. 1143–1147 North 3rd Street presents an outstanding opportunity to acquire a development site approved for 24 apartment units and 2 “Live Work” units with 8 parking spaces in Northern Liberties, one of Philadelphia’s most exciting neighborhoods.

Offering Memorandum


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NOTE: Outside Brokers must complete this Cooperating Broker Agreement and return via email to info@rittenhouserealty.com or fax to 267-324-3394.

Brokers

Mark Duszak
Tel: (215) 454-2852 EXT 1003
Cell: (215) 805-5011
License: PA RS277420
mark@rittenhouserealty.com

Corey Lonberger
Tel: (215) 454-2852 EXT 1001
Cell: (267) 760-3726
License: PA RS279134
corey@rittenhouserealty.com

Ken Wellar
Tel: (215) 454-2852 EXT 1002
Cell: (610) 745-4800
License: PA RS289487
ken@rittenhouserealty.com

Douglas Emrich
Tel: (215) 454-2852 EXT 1005
Cell: (610) 733-8482
License: PA RS320748
doug@rittenhouserealty.com



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