Alven83, Both Buyer and Seller in Point Breeze, Philad...

How valuable is commercially zone real estate in point breeze?

Asked by Alven83, Point Breeze, Philadelphia, PA Fri Apr 23, 2010

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Dave Lombardo’s answer
I agree with James. At least in the short term. The area is has a lot of up side potential. Other neighborhoods in S Philly like Grad hospital, Bella Vista and the Passyunk Ave areas have much higher asking prices for the real estate. Many buyers and investors are starting relieze the bargins in the Point Breeze area and are moveing and building there. Part of Point Breeze is now called Newbold (Broad to 18th and Snyder to Washington Ave), this section has become very popular and I have had several buyers choose this area to live because they see value and the potential for appreciation. In the end you need to see the value, do some research and check out the area for yourself. Good luck, I'm sure you will find somthing.
0 votes Thank Flag Link Sat Apr 24, 2010
There's no easy answer to that question. In most parts of point breeze the highest and best use for a property is residential unless you're talking about a large parcel that can be used for more intensive commercial development (like a whole block, or half-block sized parcel). There is a plentiful supply, and only modest demand, for vacant commercial space in the area in the form of corner stores and commercially-zoned, rowhouse-style properties, so for those the commercial zoning adds little if any value since they're probably worth more when converted to residential use.

Hope that's helpful and feel free to contact me to discuss your specific scenario or questions.

James Yoakum - Realtor, SFR
Brown McKinney Real Estate
1631 W. Cabot St.
Philadelphia, PA 19121
office: 215-825-2250 x.1002
cell: 267-496-7739
fax: 610-910-3046
0 votes Thank Flag Link Fri Apr 23, 2010
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