potential pad site lehigh ave · 2019-07-19 · for sale 1844-46 w. sedgley avenue philadelphia, pa...
TRANSCRIPT
For Sale1844-46 W. Sedgley Avenue
Philadelphia, PA 19132
Federal Opportunity Zone
Exclusively Listed By:The Flynn Company(215) 561-6565www.flynnco.comBrendan FlynnMichael Gallagher
Potential Pad Site with Frontage on
Lehigh Ave
Property Summary | 21844-46 W. Sedgley Avenue
1844-46 W Sedgley Avenue, Philadelphia, PA
1844-46 W Sedgley Avenue is situated in North Philadelphia, just West of the rapidly developing North Broad Street corridor. It is adjacent to a proposed multi-million dollar development site centered around the North Philadelphia Station that could transform the area. Comprised of industrial buildings that total approximately 120,000 SF (ceiling heights range from 15’ to >50’) on a total of 172,895 SF of land area (3.97 acres), the site offers qualified buyers a unique opportunity in the Philadelphia market.
Located in a Federal Opportunity Zone and in close proximity to Center City Philadelphia, Temple University, Temple University Hospital and all forms of public transportation, 1844-46 W. Sedgley Avenue offers a tremendous opportunity for developers and investors.
The parcels can be sold together or separate. The asking price for 1844 W. Sedgley Avenue is $1,000,000 and the asking price for 1846 W. Sedgley Avenue is $1,000,000, however, the two parcels can be purchased together for $1,800,000.
Interior of 1844 W. Sedgley Ave Exterior of 1844 W. Sedgley Ave –3 story section
Property Information | 31844-46 W. Sedgley Avenue
Property Description
Address: 1844 W. Sedgley Avenue
County: Philadelphia
Location: Frontage along W. Sedgley Avenue just north of Lehigh Avenue; north of Amtrak rail lines
Land SF: 137,635 SF
Building SF: Approximately 120,000 SF
Zoning: I-2
Parcel ID: 88-4-0655-01
Property Description
Address: 1846 W. Sedgley Avenue
County: Philadelphia
Location: Intersection of Lehigh Ave, 19th St and W. Sedgley Avenue.
Land SF: 35,260 SF
Building SF: N/A
Zoning: I-2
Parcel ID: 88-5-8846-60
Exterior of 1844 W. Sedgley Ave
Interior of 1844 W. Sedgley Ave
Building Floor Plans | 41844-46 W. Sedgley Avenue
Space
Approximate
Area
Approximate
Clear Height
A 5,900 SF 15’
A1 5,900 SF 15’
A2 5,900 SF 15’
B 400 SF 10’
C1 9,837 SF 29’
C2 9,837 SF 18’
CX 5,470 SF
D 3,938 SF 29’
E 3,872 SF 12’
F1 23,112 SF 55’
F2 4,400 SF 15’
F3 5,145 SF 15’
G 44,834 SF 35’
H 18,121 SF 35’
L
Building Floor Plans | 51844-46 W. Sedgley Avenue
1844 W. Sedgley from South to North
1844 W. Sedgley from South to North
Zoning | 61844-46 W. Sedgley Avenue
Description: Medium Industrial
Uses permitted as of right: Caretaker Quarters; Passive Recreation; Educational Facilities; Safety Services; Transit Station; Utilities and Services, Basic and Major; WirelessService Facility; Business and Professional; Medical, Dental Health Group Practitioner; Government; Building Supplies and Equipment; Animal Services; Building Services;Business Support; Financial Services (except Personal Credit Establishments); Maintenance and Repair of Consumer Goods; Non-Accessory Parking; Radio, Television andRecording Services; Commercial Vehicle Repair and Maintenance; Commercial Vehicl4e Sales and Rental; Personal Vehicle Repair and Maintenance; Personal Vehicle Sales andRental; Gasoline Station; Vehicle Paint Finishing Shop; Equipment and Materials Storage Yards and Buildings; Moving and Storage Facilities; Warehouse; Wholesale Sales andDistribution; Artists Studios and Artisan Industrial; Limited Industrial; General Industrial; Research and Development; Trucking and Transportation Terminals; CommunityGarden; Market or Community-Supported Farm; Animal Husbandry; Horticulture Nurseries and Greenhouses
Uses requiring special exception approval: Detention and Correctional Facilities; Re-Entry Facility; Drug Paraphernalia Sales; Gun Shop; Adult-Oriented Merchandise; Adult-Oriented Service; Stables; Amusement Arcade; Pool or Billiards Room; Personal Credit Establishment; Body Art Service; Junk and Salvage Yards and Buildings
Dimensional Standards
Max. Occupied Area 100%
Min. Front Yard Depth 0
Min. Side Yard Width 6 ft. if used
Min. Rear Yard Depth 8 ft. if used
Max. Height 60 ft. if abutting a Residential or SP-PO
district; Other: no limit
Max. FAR 500%
I-2
Aerial Map | 71844-46 W. Sedgley Avenue
1844-46 W Sedgley Ave
Proposed $162 Million Development
North Philadelphia Station - Amtrak
1844-46 W. Sedgley Ave is adjacent to a proposed multi-million dollar multi-phase development project surrounding the North Philadelphia Station. Proposed plans call for nearly 5 million SF of office, retail and
residential space.
Stormwater Map | 81844-46 W. Sedgley Avenue
1846 W. Sedgley Ave(35,260 SF of
land area)
1844 W. Sedgley Ave(137,635 SF of land area)
Federal Opportunity Zone Information | 91844-46 W. Sedgley Avenue
Investor Incentives
>OPPORTUNITY ZONE INVESTMENTS PROVIDE AN IMMEDIATE BENEFIT
to investors of deferring payment of the capital gains tax that would be paid in 2018 until 2026. Further incentives are linked to the duration of an investor’s commitment to Opportunity Fund investments.
IF INVESTMENTS ARE HELD 10+ YEARS,
gains accrued on the Opportunity Fund investment during that 10-year period will not be taxed, further incentivizing patient capital.
THE OZ TAX INCENTIVE WILL ALLOW
a modest reduction in capital gains taxes in exchange for holding Opportunity Fund investments for five to seven years.
Investors receive a return on their investment through a seven-year stream of tax credits (totaling 39%).
Definitions
Opportunity Fund: An investment vehicle organized as a corporation or partnership for the purpose of investing in Opportunity Zone property.
Opportunity Zone property includes stock, partnership interest, or business property in an
Opportunity Zone
Opportunity Funds are required to invest 90% or more of their capital as EQUITY in Opportunity
Zone property
Opportunity Funds will be self-certified per IRS guidelines. They must be organized for the purpose of investing in Opportunity Zones
*Information provided by:
Federal Opportunity Zone Information | 101844-46 W. Sedgley Avenue
*Information provided by:
Gain realized and invested in
Opportunity Fund within 180 days*
10% reduction of capital gains tax
15% reduction of capital gains tax
All taxes due on 12/31/26.
Investor pays tax on 85% of original
gain
Any gain realized on Opportunity
Fund investment is fully taxable if
liquidated
Any gain realized on Opportunity
Fund investment is fully taxable if
liquidated
Any gain realized on Opportunity
Fund investment is fully taxable if
liquidated
Any gain realized on Opportunity
Fund investment is tax free**
Tax on Opportunity Fund Investment
* Tax is deferred until the earlier of investment liquidation (return of capital) or 12/31/26
** Any appreciation on Opportunity Fund investment is tax free if held > 10 years
Investment Year
2018Year 5
2023Year 7
2025Year 8
2026Year 10
2028
Tax on Capital Gain Invested
Timeline for Opportunity Zone Investments
Public Transportation Map | 111844-46 W. Sedgley Avenue
The property of 1844-46 sits adjacent toNorth Philadelphia Station, a majorPhiladelphia transportation center. NorthPhiladelphia Station is served directly byAmtrak, Trenton and Chestnut Hill WestRegional Rail lines and has access tomajor suburban markets such asDoylestown, Warminster and Fox Chase.Five Amtrak trains - three southboundand two northbound - stop on weekdaysonly. Commuters are also a quick tripaway from 30th Street Station, SuburbanStation and Center City Philadelphia.1844-46 is great for local commuters aswell, offering great accessibility to theBroad Street subway line and Septa busroutes 4 & 16.
1844-46 W Sedgley Ave
Contact Information and Offer Instructions | 12
Seller, with it’s sole and absolute discretion, reserves the right to remove the Property from the
market. Seller expressly reserves the right, in its sole and absolute discretion, to reject any and all
proposals or expressions of interest in the Property, to terminate discussions with any party at any
time.
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions,
assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
All Offers Shall Include:
• Purchase Price
• Timing for Inspection Period and Closing
Period
• Amount of Deposit Money, including any
amount that is non-refundable
• Any contingencies; financing, zoning, etc.
• Source of funds for the acquisition
• Financial strength of purchaser
• Summary of closed transactions and
references
1844-46 W Sedgley Avenue – Contact Information & Offer
Instructions
For Additional Information and to Schedule
Property Tours Contact:
The Flynn Company
1621 Wood Street
Philadelphia, PA 19103
(215) 561-6565
www.flynnco.com
Brendan Flynn | x152
Michael Gallagher | x151
1844-46 W. Sedgley Avenue