400-02 S 2nd St R, Philadelphia, PA Commercial  SOLD  


MLS # 4184646p Sub/Nei Society Hill $/SqFt $270.20 Apx Age 225 DOM
MLS Area Center City - C SchDist Philadelphia #Bldgs 1 Sale/Ls/Bth S
County Philadelphia County Zip Code 19147-1608 #Units 1 Land Only? N
Tax ID # 88-2002200 Road Fr #Stories LandSqFt 0

Financial Info

Lease Info
RE Taxes/Yr $3,697/2002 Ann Heat Exp Ann Lse $/Sqft
Assessment 0 Elec Exp SqFt Avail 2218
Land Use Stor Zoning Comm W/S Exp LvlsForLease
Gross Ann Inc $48,000 Ins Exp Ann Lse Price $48,000
Total Expenses $3,697 Maint Exp Mon Lse Price
Net Income $44,303 Waste Exp Avail Date
VacancyRate 0 Cam Fee Min Lse-Mo
Cap Rate 0.06 GRM 14.56 Condo Fee 5320 Cur Lse Start
FullServExpSt Other Exp Cur Lse End

Details
Heating/Cooling/Utilities: Public Water, Public Sewer Util. Avail:
Type: Commercial, RetailSpace, Restaurant, Tavern
Parking & Traffic:
Interior: Pub RestRms
Exterior: PubTransNear
Lot Info: Downtown, Urban, LevelTopo, None/OthrSur
Lease Information: TripleNet, 5+ Years, Opt to Renew Inc: Ten: PayElec, PayHeat, PayGas, PayWtr, PaySwr, PayHtWtr, PayInsur, PayAreaMaint, PaySnowRemv, PayTrash, PayCblTV, PayTax, PayJantrl, PayPestCont
Other: Condo-FeeSim, SubjtoLease, NoMods/UnkWh, BuildingOnly, Lease(s), ConventFin, CallToShow, LAMustAccShw, 24HrNoticShw, ApptCentShw
Include: See Lease
Exclude: See Lease

Comments

SqFt & Other Info
Commercial Condo for sale in popular Society Hill section of Center City Philadelphia. Current Tenant has long term TRIPLE-NET lease (currently in 4th year of 5-year term, with two 5-year renewal options) and is using property as a restaurant and bar. Excellent opportunity for an investor!!! Rent is currently $48,000/year and can be adjusted annually in accordance with CPI, with a min of 3% and max of 6% until year 11. At which time it can be renegotiated to then current market value. Ignore Trend MLS Map - it is not correct. Location is at 2nd and Pine Streets!
BldgSqFt 2587 LsdUnits 1
ContigSF 2587 #Tenant 1
Retail SF 2587 #LoadDk
Off SF MxClgHgt
Wh/Ind PadAvail N
OtherSF Confiden N
Directions: From Market Street: South on Broad St to left on Pine to corner of 2nd and Pine Streets