209-15 Fairmount Ave, PHILADELPHIA, PA

About 209-15 Fairmount Ave

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.

Listing Map