1616 MCKEAN STREET, PHILADELPHIA, PA 19145

This 4,900 sq ft commercial warehouse, set on a 70' x 70' corner lot, offers significant potential for redevelopment in the thriving New Bold neighborhood. Zoned I2-Medium Industrial, the site is potentially ideal for a range of uses, including multi-unit residential, office space, or mixed-use development (Zoning permit or Variance needed). Buyers are advised to verify zoning requirements with the City of Philadelphia for specific project feasibility.Sewage, electricity, and water are already available, offering a significant advantage. A nearby property sold for a similar price in 2023 but lacked utility access, spent hundreds of thousands for it. Tenants are in the process of moving out and will vacate by December, making the property ready for immediate redevelopment.Currently operating as an auto repair shop. Located near East Passyunk Avenue, South Broad Street, and Washington Avenue, this fast-growing neighborhood offers excellent rental demand, business traffic, and appreciation potential, supported by new construction nearby and proximity to public transportation, restaurants, and employment hubs.This rare corner lot presents a prime chance to capitalize on South Philadelphia’s booming market with a project tailored to meet the area’s high demand for residential and commercial spaces.