11 days on rocket

246 Market St, Philadelphia, PA, 19106

$1,250,000

Home List Price

$10,000*

Closing Credit

0 Baths
6,300 SqFt
$198/SqFt
House
Schools Nearby

Location

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246 Market St, Philadelphia$1,250,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingOn Street
Year Built1900
HeatingHeat Pump
CoolingCentral Air
BasementYes
ViewCity, Panoramic
MLS #PAPH2343996
Lot Size0.05 Acres
StatusActive
(ACTIVE)

About 246 Market St

This magnificent architectural masterpiece, prominently positioned on Market Street in Old City, presents a rare opportunity for development in a bustling urban locale. Boasting an impressive facade that floods both floors with natural light, this property offers the perfect opportunity to transform this commercial building into a mixed-use multi-family investment. Currently configured as a bar/restaurant, this expansive space is approximately 6,300 square feet. The width of the property is a generous 22 Ft and goes as far back as 99 Ft making the lot size 2,178 Sq/Ft. The current zoning is CMX-3 which allows by right for you to develop this into 8 total units - 1 commercial unit on the 1st floor and 7 residential units. This development will require for two addition stories to be added in order to fit all of the units comfortably. With the city 's plan of building a Park Cap over I-95 this can be the perfect opportunity to buy in the neighbor before prices increase dramatically. With the plan of developing this into a mixed-use multifamily cash flowing building and holding onto it for the long term can create tons of equity for generations to come. This location enjoys easy access to public transportation via the MFL Frankford Transportation Center to 69th St Transportation Center at the 2nd St Station - MFL stop. With a Walk Score of 100, transit score of 100, and Bike Score of 84, this area is a paradise for pedestrians, commuters, and cyclists alike. Surrounded by essential services such as CVS Pharmacy, the US Post Office, and various local businesses, this property offers endless possibilities for development. Don't miss out on this prime opportunity - schedule a viewing today before it's too late!

Property Details

Property Features

Property Information:

  • Architectural Style: Unit/Flat, Other
  • Year Built: 1900
  • Living Area: 6,300 SqFt

Listing Office:

  • Office Name: RE/MAX @ HOME
  • Office Phone: (215) 607-3535
  • Listing Agent: Maria Maria Quattrone Quattrone

Interior Features

Interior Information:

  • Basement: Yes

Exterior Features

Exterior Information:

  • View: City, Panoramic
  • Exterior: Sidewalks, Street Lights

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.05 Acres

Utilities

Utilities Information:

  • Heating: Heat Pump
  • Cooling: Central Air

School Info

Assigned Schools Information:

  • Benjamin Franklin High School, Public District Grades 9-12
  • General George A. McCall School, Public District Grades KG-8

Other

Directions Information:

  • Directions: Coming from the south side of S 3rd St go straight and turn right to Market St. The property will be on the right, right after Citizens Bank.

Municipality:

  • Philadelphia

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,250,000
  • Price Per SqFt: $198/SqFt

Tax Information:

  • Annual Amount: $10,907
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Philadelphia, PA.

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Philadelphia, PA

City

Med. Sold Price

$258.8K

Med. Price/SqFt

$196

Avg. Days On Market

50

# of Sold Homes

960

246 Market St vs Philadelphia

11 DAYS ON ROCKET

-39 Days

$1,250,000

+$991.1K More

$198/SqFt

+$2 More

KEY TAKEAWAY

This property is $991.1K more than the Median Sold Price and $2/SqFt more than other homes in Philadelphia, PA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #PAPH2343996

Listing Office:

  • Office Name: RE/MAX @ HOME
  • Office Phone: (215) 607-3535
  • Listing Agent: Maria Maria Quattrone Quattrone

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/4/2024, 12:11:13 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Sep 09, 2014Home Sold
$735,000

Tax History

YEARPROP. TAXASSESSMENT
2020$10,907 -
2019$10,907$779,200
2018$10,916$779,800
2017$10,289$735,000

History based on county public records data.

Payment Calculator

$6,306

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$3,814

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-5652239
6
/10

  • General George A. McCall School

  • 325 S 7th St

  • 0.55 miles

  • Public District Grades KG-8

High School

school-card-donut-5652240
2
/10

  • Benjamin Franklin High School

  • 550 N Broad St

  • 1.28 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $64,223. Most Philadelphia, PA residents have annual incomes between $35k-100k. The most common type of family is single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 246 Market St

What is the listing price of this property?

The listing price of 246 Market St property is $1,250,000.

What type of property is this?

The property 246 Market St is a house located in Philadelphia, Pennsylvania, 19106.

Is this property for sale now?

Active Listing: 246 Market St is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 246 Market St are:
General George A. McCall School: GreatSchools Rating 6/10
Benjamin Franklin High School: GreatSchools Rating 2/10

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $10,907 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on September 9, 2014 for $735,000. (source: MLS/tax record).

What is the square footage of this property?

The property 246 Market St is 6,300 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 246 Market St is 1900.

Rocket Homes›Pennsylvania›Philadelphia County›Philadelphia›19106›246 Market St

This home is located at 246 Market St in Philadelphia, PA and zip code 19106 in the Center City neighborhood. This 6,300 square foot home, which was built in 1900, sits on a 0.05 acre lot. It has been listed on Rocket Homes since April 22, 2024 and is currently priced at $1,250,000.

While more than 242 listings in Philadelphia, PA in April 2024 were sold above asking price, there were more than 216 listings sold at asking price, and more than 502 were sold below. The number of listings in Philadelphia, PA increased by 9.8% between March 2024 and April 2024. In April 2024 median list price was $258,806 and the average listing age was 50 days.

From Rocket Homes Real Estate and based on county public records data.

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