209-15 FAIRMOUNT AVE Philadelphia, PA 19123
5,009 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Northern Liberties
MLS Listing ID PAPH2482266
Year Built 1848
Annual Tax Amount $9,798
Tax Year 2024
Lot Size 5,009 Sqft
Acres 0.11
Lot Dimensions 67.00 x 75.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
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.
Location
State PA
County Philadelphia
Area 19123 (19123)
Zoning CMX2.5
Interior
Hot Water Natural Gas
Heating Hot Water, Forced Air
Cooling Central A/C
Flooring Wood, Vinyl, Carpet, Tile/Brick
Inclusions Blower in basement
Heat Source Natural Gas
Exterior
Garage Spaces 4.0
Utilities Available Water Available, Sewer Available, Natural Gas Available, Electric Available
Water Access N
Roof Type Rubber
Street Surface Black Top
Accessibility None
Road Frontage City/County
Total Parking Spaces 4
Garage N
Building
Lot Description Additional Lot(s)
Foundation Stone, Brick/Mortar, Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 882017730
Ownership Fee Simple
Security Features Fire Detection System,Security System
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Financing Cash,Conventional,Exchange
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=uSN3csedn4A&brand=0&mls=1&
NEARBY SCHOOLS & PROPERTIES