209 15 Fairmount Ave

Highlights:

• Days on Market: 315
• Parking Features: Paved Parking
• Heating: Hot Water, Forced Air

Description:

Additional Lot(s)

This offering presents a rare opportunity to acquire two contiguous CMX-2.5 zoned properties in the heart of Northern Liberties, combining stabilized income with long-term flexibility.
The portfolio includes the mixed-use commercial building at 209–215 Fairmount Avenue and the adjoining parcel at 705 N American Street, together providing a 7,550 SF combined footprint — a scale increasingly difficult to assemble in the neighborhood.
The property is leased through December 31, 2026 and produced $228,998 in total income in 2025. After full operating expenses, including property taxes, the asset generates approximately $203,500 in Net Operating Income, representing a 5.8% cap rate at the offering price.
The existing lease term provides stable income while a buyer evaluates long-term plans and pursues planning or entitlement work, with a defined transition point at the end of 2026.
The tenant has expressed interest in renewing; however, any future lease extension would be subject to negotiation with the new owner. This structure provides flexibility for continued income stabilization or repositioning following the current lease term.

Assemblage Overview
• 7,550 SF Contiguous Assemblage
• Two Parcels: 209–215 Fairmount Avenue & 705 N American Street
• CMX-2.5 Zoning – Mixed-Use Development Potential
• Located in Northern Liberties
• Income in Place Through 12/31/2026
• Defined Transition Timeline for Repositioning or Redevelopment

209–215 Fairmount Avenue (Primary Building) MLS# PAPH2482266

• Grand Second-Story Theatre Hall with Open-Span Volume
• Preserved Theatre-Era Allegorical Ceiling Panels
• 18’ Pressed Metal Ceilings with Decorative Cornice Detailing (Main Level)
• Original Interior Woodwork and Architectural Detailing
• Hardwood Flooring on Upper Level
• Full-Building Basement with 10’+ Ceiling Height
• Significant Ceiling Volume Rare for Buildings of This Era
• Adaptive Reuse or Conversion Potential

705 N American Street (Contiguous Parcel) MLS# PAPH2452904

• Vacant Paved Lot (Separate Parcel)
• Secondary Access
• Enhances Assemblage Scale and Site Configuration Flexibility

Showings are limited to evenings after 6 PM and weekends to accommodate the current tenant. Virtual access available via 3D tour.

---

Report Listing This listing was syndicated through:

Listing ID: 803850204594