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2303 Fairmount Avenue

PHILADELPHIA, PA 19130
  • $2,250,000
  • STATUS: Active
  • ON SITE: 69 Days
  • ID#: PAPH2123312
UPDATED: 60 min ago
$2,250,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1930
County:

School Ratings & Info

Description

Reintroducing, The London Grill - Fairmount's most beloved corner establishment overlooking the Avenue. This turnkey bar/restaurant is filled with rich history and is a proven destination for the community, ready for its next iteration. The main bar is one of Philly's most original. The dining atrium features a dramatic skylit setting. The 2nd floor provides ample banquet/event space. The double-wide Property (2301 and 2303 Fairmount Avenue) creates an opportunity for a dual-concept/all-day cafe theme for "round the clock" revenue. The kitchen, bar and basement are all operational and ready to go. 32' of combined corner frontage along Fairmount Avenue at one of the most prominent intersections in Philadelphia creates high visibility and signage opportunities to drive business. Three (3) loft apartments (all leased/occupied) are located on the upper floors with dramatic skyline views and offer tremendous rental upside for future ownership. The favorable CMX2.5 zoning allows for up to 18 residential units to be built on the combined properties (Historic Disclosure: future renovation/new construction must adhere to historic register guidelines for the corner building at 2301 Fairmount). The corner lot coverage and street-to-street parcels provide ideal redevelopment conditions, as the Property is primed for an overbuild / addition, to maximize residential rental capacity in an area surging with demand from apartment dwellers. Sidewalk seating for open air dining is possible and the liquor license is available for a fee. The universities (Penn and Drexel), museums (Art Museum) and tourist attractions (Eastern State) have been known to use this location for events and catering, creating an additional revenue stream for the culinary concept. With a little TLC and cosmetic enhancement, The London is ready to retake its place amongst Philly's most popular places...

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Newman Real Estate Group | Keller Williams Flagship of Maryland. 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. Data last updated: 2022-08-11T19:03:45.21.
www.thinknewman.com/homes/129420092
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2303 Fairmount Avenue PHILADELPHIA, PA 19130

  • Price: $2,250,000
  • Status: Active
  • On Site: 69 Days
  • Updated: 60 min ago
  • ID#: PAPH2123312
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1930
Built
Neighborhood:
Fairmount
County:
Philadelphia
Area:
19130 (19130)
School District:
The School District Of Philadelphia
Property Description
Reintroducing, The London Grill - Fairmount's most beloved corner establishment overlooking the Avenue. This turnkey bar/restaurant is filled with rich history and is a proven destination for the community, ready for its next iteration. The main bar is one of Philly's most original. The dining atrium features a dramatic skylit setting. The 2nd floor provides ample banquet/event space. The double-wide Property (2301 and 2303 Fairmount Avenue) creates an opportunity for a dual-concept/all-day cafe theme for "round the clock" revenue. The kitchen, bar and basement are all operational and ready to go. 32' of combined corner frontage along Fairmount Avenue at one of the most prominent intersections in Philadelphia creates high visibility and signage opportunities to drive business. Three (3) loft apartments (all leased/occupied) are located on the upper floors with dramatic skyline views and offer tremendous rental upside for future ownership. The favorable CMX2.5 zoning allows for up to 18 residential units to be built on the combined properties (Historic Disclosure: future renovation/new construction must adhere to historic register guidelines for the corner building at 2301 Fairmount). The corner lot coverage and street-to-street parcels provide ideal redevelopment conditions, as the Property is primed for an overbuild / addition, to maximize residential rental capacity in an area surging with demand from apartment dwellers. Sidewalk seating for open air dining is possible and the liquor license is available for a fee. The universities (Penn and Drexel), museums (Art Museum) and tourist attractions (Eastern State) have been known to use this location for events and catering, creating an additional revenue stream for the culinary concept. With a little TLC and cosmetic enhancement, The London is ready to retake its place amongst Philly's most popular places...
Exterior Features

Construction Materials Masonry Garage YN No Location Type Downtown Lot Features Corner Other Equipment See Remarks Parking Types None Property Condition Good Riparian Rights YN No Road Surface Type None View City Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 8180.00 Cooling Central A/C Exclusions Liquor License Available For Fee Heating Central Heating YN Yes Inclusions All Kitchen And Bar Equipment Net Square Feet 8180.00

Property Features

Accessibility Features None Assessment Year 2022 Business Type Apartment BuildingBanquet Facility/LodgeRestaurant/Bar Central Air YN Yes Cooling Fuel Electric Cross Street North 23Rd Street Heating Fuel Electric Historic YN Yes Hot Water Natural Gas Lease Considered YN Yes Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 4 Original MLSNumber 801617503940 Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 22805.00 Tax Assessment Amount 580400.00 Tax Lot 25 Vacation Rental YN No Water Source Public Zoning Cmx2.5

Listing courtesy of Compass Pennsylvania, Llc.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Newman Real Estate Group | Keller Williams Flagship of Maryland. 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. Data last updated: 2022-08-11T19:03:45.21.
 
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