1621 N American St, Philadelphia, PA 19122

Property Description

The property consists of a ±6,700 SF masonry shell structure with six rollup doors fronting N. American Street. Exterior walls and doors are fully intact; the building is open to the sky — no roof — priced accordingly. ICMX zoning supports flex, light industrial, creative commercial, mixed-use, and residential development. OWNER-USER PATH: Invest $250,000–$300,000 in a roof and core buildout and own ±6,700 SF of ground-floor warehouse/flex space on American Street at a total basis well below replacement cost. INVESTOR PATH: The garage bay configuration and American Street frontage support a compelling mixed-use income strategy: • 3 glass-front storefronts facing American Street — est. $2,200/mo each • 3 rear garage/flex bays — est. $1,300/mo each • Projected gross income: $10,500/mo | $126,000/yr Estimated total project cost $1.2M. Estimated stabilized value $1.4M–$1.6M at market cap rates. Surrounded by new residential construction, breweries, creative studios, and growing commercial activity. Adjacent to the Loading building. Minutes from Fishtown, Northern Liberties, and Northern Philadelphia's major growth nodes. All projections are estimates. Buyer to independently verify renovation costs, achievable rents, and zoning compliance. Sold as-is.