3 more buildings for sale at 12th and Passyunk; potential for ‘significant increase’ in rent
A month after the Interior Concepts building was put up for sale for a whopping $2.9 million, a three-building package a couple doors down has come onto the market for about $2 million less.
The package is going for $985,000 and includes 1709, 1711 and 1713 S. 12th St., at Passyunk and Watkins. 1709-11 is the dollar store, and 1713 is “Mob Wife”-owned Addiction Boutique. The listing says that all the leases, including for the four apartments on the second and third floors, are month to month, providing “potential for significant increase in rental income.”
Rare opportunity for an investor to own THREE CONJOINED multi-use buildings at the BEST block in rapid growing East Passyunk Square. Tremendous visibility for businesses. Located at the intersection of Passyunk Ave and Morris St. 2,500 sf. spacious store space, which is ideal for any large restaurants and/or retail stores.
We’ve said it before, but this intersection will be unrecognizable in a couple years. You have 1) Scarduzio project at 12th and Morris, 2) $300k of pedestrian improvements, 3) Cheu crew remaking old El Zarape and 4) the potential sale of Interior Concepts.
Standing in the middle of it all is the Pepto-pink Janes Yarn Shoppe. That building was actually sold in last April for $400,000.
Don’t be surprised if the owner of A Man’s Image looks to cash in, too (just to be clear, we haven’t heard anything about that happening).
A Mans Image should just cash out and relocate along the ave elsewhere, and that corner lot should have some cafe seating outside.
They should have a cafe with seating outside in the space where they’re putting some low class beer distributor on Snyder Avenue…
No solid info here; just a strong, well-placed rumor: Abe is considering a semi-retirement, scaling down operations, splitting off a large chunk of the current store for “something new” (a restaurant would be a fairly obvious guess).