209 15 Fairmount Ave

Highlights:

• Days on Market: 54
• Heating: Hot Water, Forced Air

Description:

Located in one of Philadelphia’s most sought-after neighborhoods, this nearly 10,000 SF mixed-use property has a rich and varied history. Originally constructed as a church with an adjoining lecture hall, this iconic building was transformed into the Pennsylvania Theatre (also known as the Coates Street Theatre) which was one of Philadelphia’s first four theatres. Since then, its versatile spaces have housed Cultural centers/clubs, auction houses, dance academies, a pipe organ factory, art studios and galleries, a variety of offices, and now a thriving childcare facility—each incarnation showcasing its ability to adapt to the needs of its community.
Zoned CMX-2.5, the building is rich in character and retains remarkable historic elements including original ceiling murals and a repurposed stage. High ceilings (18–20 ft) and open floor plans on both levels as well as a 4,500 sq ft basement allow for endless possibilities.

Additional adjacent 2,500 Sq ft vacant lot is available for sale separately, if combined, the two properties would offer an approximate 7,500 sq ft footprint of redevelopment opportunity. MLS# PAPH2452904

An 8-year NNN lease currently in place through 12/31/2026 and a stable tenant eager to renew, this is a rare opportunity for investors or developers to secure a piece of Northern Liberties with long-term upside with a NOI of $183,000.

This one-of-a-kind property is located in the heart of Northern Liberties and is just steps away from Philadelphia’s premier dining, art galleries, and nightlife, as well as inviting community parks and green spaces. With both Penn’s Landing and Old City within easy walking distance, its appeal is truly unmatched.

Easy accessibility to Public Transit & Highways – Conveniently located near I-95, I-676 on-ramps and steps from the Market- Frankford Line.

Property viewing times are limited to evenings after 6:00 PM and weekends due to the business operations of the current tenant which is a childcare center. A 3D tour and property website are available for a comprehensive virtual tour of the building due to the limited in person showing times.