EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE 4401 RIDGE AVENUE PHILADELPHIA, PA 19129
Brian Edmonds, SIOR Managing Director 215.399.0048 [email protected] Tommy Choi Senior Advisor 215.399.0592 [email protected] Lisa Lord Edmonds Associate Advisor 215.309.6803 [email protected]
SVN | THE CONCORDIS GROUP | 1515 MARKET STREET, SUITE 800, PHILADELPHIA, PA 19102 SALE BROCHURE Property Summary
OFFERING SUMMARY PROPERTY OVERVIEW Sale Price: $3,750,000 Unique Opportunity to own Prime Real Estate in the East Falls section of Phila with an Unparalleled Fairmount Park Setting and Schuylkill River view. Development Possibilities Include: Residential, Retail, Educational, Lot Size: 2 +/- Acres Office, Medical/Healthcare, Research & Development and Entertainment.
Please note: buyer must pay all transfer taxes; seller is tax-exempt. Zoning: CMX3 - Community PROPERTY HIGHLIGHTS Commercial Mixed-Use • 2 +/- developable acres with significant frontage on Ridge Avenue in the East Falls section of Northwest Philadelphia
Market: Philadelphia/East Falls • Situated steps from Kelly Drive and the Schuylkill River, the Property is surrounded by Fairmount Park with immediate access to its trails and the recreational activities the Park offers Parcel #: 784376450 • Excellent road and highway connectivity with immediate access to I-76, Lincoln and Kelly Drive and is a short commute to Center City via multiple routes Frontage: 411' along the NE side of • The immediate surrounding area referenced in the 2014 City of Philadelphia Ridge Ave District Plan as the “East Falls Riverfront Business District” has experienced substantial mixed use development activity in recent years with this parcel positioned as a potential “Gateway” location
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 2 All SVN® offices are independently owned and operated. Site Description
Location: 4401 Ridge Avenue, Philadelphia, PA 19129 Tax Parcel #: 784376450 Census Tract #: 0207.004 Shape: An irregular shaped corner parcel.
Area: Approximately 2± acres of land area. Frontage: 411' along the northeasterly side of Ridge Avenue and 261' along the northwesterly side of Merrick Road. Topography/Terrain: The site has a rising and rolling topography.
Street Improvements: Ridge Avenue has two lanes providing travel in a northwesterly/ southeasterly direction. Merrick Road is a two way road providing travel in a northeasterly/ southwesterly direction with a median with concrete curbs and landscaping at the subject property. Both streets were asphalt paved with concrete curbs and sidewalks and no on street parking.
Utilities: All available. EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 3 All SVN® offices are independently owned and operated. East Falls
NEIGHBORHOOD HIGHLIGHTS
• East Falls is a neighborhood in the Northwest section of Philadelphia, Pennsylvania, The East Falls community is located adjacent to Manayunk, Roxborough, and Germantown neighborhoods. East Falls is also adjacent to Wissahickon Valley Park. The neighborhood runs along a stretch of Ridge Avenue that is only a few miles long, running along the banks of the Schuylkill River and extending northeast to Wissahickon Avenue. • East Falls overlooks the multi-use recreational paths of Fairmount Park along Kelly Drive and is desirable for its central location with easy access to several major roadways and public transportation. This area continues to develop, with new housing, retail space and recreation centers in production. It features two train stations, a number of bars and restaurants, and illustrious mansions as well as some recently renovated housing that continues to increase in value. • East Falls is best known as the childhood home of Grace Kelly, actress and Princess of Monaco, is also home to historic Laurel Hill Cemetery, burial place of numerous prominent Philadelphians and other notables. • www.wikipedia.com
ECONOMIC HIGHLIGHTS
• According to the East Falls Development Corporation website there are:
• 10,000+ walkers, runners, and bikers per week use our River Trail along Kelly Drive, steps away from the eateries of the Riverfront Business District.
• 60,000+ regional commuters travel through East Falls daily
• 1,400+ train commuters per day at the East Falls SEPTA station
• Travel times by car: Over two thirds of East Fallsers enjoy less than 30 minute commute to work:
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 4 All SVN® offices are independently owned and operated. Recent Developments In East Falls
Fall Bridge Lofts The Overlook
Avenue at East Falls
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 5 All SVN® offices are independently owned and operated. Retailer Map
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 6 All SVN® offices are independently owned and operated. Demographics Map
POPULATION 1 MILE 2 MILES 3 MILES
Total population 19,581 86,464 249,587
Median age 32.3 35.5 35.4
Median age (male) 31.3 32.6 32.9
Median age (Female) 33.8 37.8 37.4
HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES
Total households 9,353 38,706 102,164
# of persons per HH 2.1 2.2 2.4
Average HH income $57,652 $52,983 $51,484
Average house value $259,303 $170,746 $146,695
* Demographic data derived from 2010 US Census
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 7 All SVN® offices are independently owned and operated. Location Maps
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 8 All SVN® offices are independently owned and operated. Disclaimer
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
EAST FALLS DEVELOPMENT OPPORTUNITY -- 4401 RIDGE | 4401 RIDGE AVENUE, PHILADELPHIA, PA 19129 SVN | The Concordis Group | Page 9 All SVN® offices are independently owned and operated.