Daycare / Multi-Tenant Residential NNN Property For Sale — Philadelphia, PA · 9,000 SF
Philadelphia, PA 19130
1605 Ridge Avenue is a boutique mixed-use multifamily and retail asset situated at the prominent corner of Ridge Avenue and Parrish Street (at 16th Street) in Philadelphia's thriving Francisville submarket. Spanning three property widths (1601-03-05), the building features a ground-floor commercial daycare tenant operating under a newly renewed 5-year NNN lease, alongside five oversized residential apartments above (one studio, three 2-bedroom/2-bathroom units, and one 3-bedroom/2-bathroom unit). Built in 2018, the 9,000-square-foot property offers private roof decks with Center City skyline views and value-add upside with the potential to add a fifth floor as of right under current CMX-2.5 zoning.
- Address: Philadelphia, PA 19130
- Asking price $2.10M
- 6.69% cap rate
- NOI $140,490
- 5 years remaining
- NNN lease
- Year built: 2018
- Building size: 9,000 SF
- Guarantor: Corporate
Location
This Daycare / Multi-Tenant Residential property is in Philadelphia, Pennsylvania.
Asset type: Mixed-Use