128 Lombard Street

2 Units | Society Hill

Overview

  • Offering Price $599,000
  • Residential Units 1
  • Building Size 2,441 GSF
  • Commercial Units 1
  • Pro Forma CAP Rate 5.9%
  • Price per Unit $299,500

On behalf of Ownership, GREA extends to investors the opportunity to acquire the fee simple interest in the mixed-use property at 128 Lombard Street (the “Property” or “Asset”) situated in the affluent Society Hill neighborhood of Philadelphia. The Asset is comprised of an existing two-bedroom/two-bath apartment unit and 800± square feet of office space. The apartment unit boasts luxury finishes including stone countertops, stainless steel appliances, upgraded fixtures, and a private outdoor space. 

The Asset presents the opportunity to acquire a building with unparalleled character in a high-quality location. This is a turnkey asset allowing a new owner the opportunity to upgrade the office space and command a rental premium over the prior in-place rent.

The Society Hill neighborhood is well known for its affluence and picturesque brownstones. It is one of the most historic and protected areas in the city maintaining its old-world charm dating back to the founding fathers.

The Property is located minutes from major transportation routes including Interstates 95, 76, and 676 and Delaware Avenue, providing daily commuters access to the entire Philadelphia MSA. Current and future tenants are steps from award-winning restaurants such as Pizzeria Stella, Zahav, Bridget Foy’s, and Bloomsday.  

Key Facts

Value-Add Opportunity: Upgrade the Office Space to Command a Rental Premium

Proximity to Major Highways: Immediate Access to I-676, I-95, and I-76

Historic Society Hill Location: Picturesque Cobblestone Streets with Unparalleled Historic Charm
Access to Public Transit: SEPTA Bus Stop at 2nd Street; 15-Minute Walk to Market-Frankford Line (Market Street Station; 2nd & Market Streets)

Steps from Award-Winning Eateries: Walk to Zahav, Bridget Foy's, Famous 4th Street Deli, Malbec, Pizzeria Stella & More

Team

Ken Wellar

Ken Wellar

Founding Partner
GREA
215-454-2879
610-745-4800
Alan Krawitz

Alan Krawitz

Associate Director
GREA
267-323-4083
610-420-4559
Corey Lonberger

Corey Lonberger

Founding Partner
GREA
215-454-2878
267-760-3726
Douglas Emrich

Douglas Emrich

Associate Director
GREA
215-454-2889
610-733-8482

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