See all 11 photos
11 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by David Lo • Philly Real Estate
$1,590,000
Est. payment /mo
2,534 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PAPH2649528
Year Built 1981
Annual Tax Amount $11,548
Tax Year 2025
Lot Size 2,534 Sqft
Acres 0.06
Lot Dimensions 22.00 x 117.00
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Rare Rittenhouse / Center City development opportunity at 1423 Spruce Street, Philadelphia, PA 19102.
It is the best development in the Center City.
This CMX-5 development site is approved for a 7-story mixed-use building with approximately 17,010.5 gross square feet, 26 residential units, and approximately 1,450 square feet of ground-floor commercial space.
The approved residential program includes 21 studio apartments and 5 one-bedroom apartments, plus basement utility/storage areas, bicycle storage, elevator service, two exit stairs, roof deck, and roof-deck access structure.
Major zoning and historic review milestones have been completed, significantly reducing entitlement risk and saving the next owner substantial time. Architectural and MEP plans are currently being finalized.
Located in one of Philadelphia's strongest rental and lifestyle corridors, the property is steps from Rittenhouse Square, Avenue of the Arts, Broad Street, Jefferson, Pennsylvania Hospital, Washington Square West, Midtown Village, restaurants, shopping, offices, transit, and Center City employment demand.
This is an attractive opportunity for developers, investors, builders, boutique multifamily operators, and buyers seeking a highly visible approved mixed-use project in a premier Philadelphia location.
CMX-5 zoning may also allow flexibility for alternative concepts, including boutique hotel or visitor-accommodation use, subject to buyer verification and all required approvals, permits, licenses, and code review. Sale includes available zoning drawings, architectural plans, floor plans, elevations, massing materials, and due diligence information upon request.
Qualified buyers are encouraged to submit proof of funds with offers.
It is the best development in the Center City.
This CMX-5 development site is approved for a 7-story mixed-use building with approximately 17,010.5 gross square feet, 26 residential units, and approximately 1,450 square feet of ground-floor commercial space.
The approved residential program includes 21 studio apartments and 5 one-bedroom apartments, plus basement utility/storage areas, bicycle storage, elevator service, two exit stairs, roof deck, and roof-deck access structure.
Major zoning and historic review milestones have been completed, significantly reducing entitlement risk and saving the next owner substantial time. Architectural and MEP plans are currently being finalized.
Located in one of Philadelphia's strongest rental and lifestyle corridors, the property is steps from Rittenhouse Square, Avenue of the Arts, Broad Street, Jefferson, Pennsylvania Hospital, Washington Square West, Midtown Village, restaurants, shopping, offices, transit, and Center City employment demand.
This is an attractive opportunity for developers, investors, builders, boutique multifamily operators, and buyers seeking a highly visible approved mixed-use project in a premier Philadelphia location.
CMX-5 zoning may also allow flexibility for alternative concepts, including boutique hotel or visitor-accommodation use, subject to buyer verification and all required approvals, permits, licenses, and code review. Sale includes available zoning drawings, architectural plans, floor plans, elevations, massing materials, and due diligence information upon request.
Qualified buyers are encouraged to submit proof of funds with offers.
Location
State PA
County Philadelphia
Area 19102 (19102)
Zoning CMX5
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Natural Gas
Exterior
Garage Spaces 4.0
Water Access N
Roof Type Asphalt
Accessibility 36\"+ wide Halls, 2+ Access Exits
Total Parking Spaces 4
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 882965855
Ownership Fee Simple
Special Listing Condition Standard
Read Less Info
Nearby School & Business
Get More Information