PA > Philadelphia
Philadelphia, PA 19131,641 N 56TH ST
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Philadelphia, PA 19131,641 N 56TH ST
Philadelphia, PA 19131,641 N 56TH ST
Philadelphia, PA 19131,641 N 56TH ST
Philadelphia, PA 19131,641 N 56TH ST
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Eric Melo

Eric Melo

+1(862) 242-9649
Listed by Katherine Vail • Elfant Wissahickon-Rittenhouse Square
$ 275,000
Est. payment /mo
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641 N 56TH ST Philadelphia, PA 19131

1,824 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 1,824 sqft

Price per Sqft $150

MLS Listing ID PAPH2478588

Originating Board BRIGHT

Year Built 1925

Available Date 2025-05-09

Annual Tax Amount $1,272

Tax Year 2025

Lot Size 1,253 Sqft

Acres 0.03

Lot Dimensions 16.00 x 78.00

Property Sub-Type Mixed Use

Property Description

High-Yield Investment Opportunity – 13.24% Cap Rate in a Federal Opportunity Zone. This prime corner mixed-use property delivers strong cash flow and is situated within a designated Federal Opportunity Zone, offering significant tax incentives for the savvy investor. Currently designed as a fully equipped neighborhood grocery store, the retail space includes shelving, refrigeration units, and a deli counter—all included in the sale. Above the store is a spacious two-bedroom, one-bath residential unit featuring a living room, a kitchen with a combined dining area, and a private deck. Additionally, the property includes a roughed-in studio space at the rear of the first floor—perfect for expanding residential income, additional storage for the corner store or reimagining as a home office, flex space or Airbnb. The commercial space also has direct basement access for storage, via the interior or the Bilco door entrance from the street.This is a versatile, income-producing asset with excellent value-add potential in a high-demand location—ideal for both seasoned investors and new entrants seeking long-term growth with built-in tax advantages. Needs TLC but the value is there for a savvy investor. Easy to see with no tenants.

Location

State PA

County Philadelphia

Area 19131 (19131)

Zoning CMX1

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling None

Flooring Hardwood

Heat Source Natural Gas

Exterior

Water Access N

Roof Type Unknown

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

High Schools Overbrook

School District Philadelphia City

Others

Tax ID 871507350

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, Private

Listing Terms Cash, Conventional, Private

Financing Cash,Conventional,Private

Special Listing Condition Standard

Bright MLS (BMLS)
agent

Eric Melo

Broker Associate | License ID: 1644807

+1(862) 242-9649

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641 N 56TH ST