A prime redevelopment opportunity has come to market along Philadelphia’s North Broad Street corridor.
The 3-acre property at 2509 North Broad Street is listed for $13.5 million. The site offers developers significant flexibility for future mixed-use development.
Over the past two decades, owner Victor Gur assembled the property by acquiring 11 separate parcels. During that time, the site operated as an auto body business.
Today, the assembled property presents a large-scale redevelopment opportunity. Current zoning supports a combination of commercial, residential, and industrial uses.
The site is zoned CMX-3 and I-2. Additionally, no height restrictions apply under the existing zoning regulations.
As a result, developers could construct at least 688,000 square feet of new development. The property’s size and zoning create opportunities for a variety of project types.
The location sits just south of the North Philadelphia station on the Broad Street Line. Consequently, the site offers strong transit access for future residents, businesses, and employees.
North Broad Street continues attracting public and private investment as redevelopment expands beyond Center City. Furthermore, nearby institutional growth and infrastructure improvements continue strengthening the corridor.
With flexible zoning, transit accessibility, and substantial development potential, the property represents one of the larger redevelopment opportunities currently available along North Broad Street.
*Article courtesy of Philadelphia Business Journal
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