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Mixed-Use Value-Add | Redevelopment Potential 1215 Race St 6,000 SF Vacant Retail Building Online Auction Sale Philadelphia, PA 19107
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- 1215 Race Street is more than a building; it’s a chance to write the next chapter in one of Philadelphia’s most dynamic neighborhoods.
- CMX-4 zoning provides expansion and redevelopment potential, an exceptional opportunity for value-add investors and developers.
- Features include lighted building signage, display windows for the ground-floor retail storefront, paved sidewalks, and street parking.
- Surrounded by premier hotels, restaurants, and cultural landmarks, across the street from the Pennsylvania Convention Center.
- Family-owned for 83 years, this is the first time the property has been available in decades.
EXECUTIVE SUMMARY
For the past 83 years, 1215 Race Street has been home to a proud, family-run sign company, a testament to Philadelphia’s tradition of entrepreneurial grit. Now, this property is ready for its next chapter, offering investors, developers, and visionaries the chance to transform a cornerstone location in the heart of Center City. Rarely does a property combine such a storied legacy with untapped possibility. Whether you envision a boutique hotel, steps from major conventions, a modern apartment building in a thriving downtown, or a flagship retail/restaurant destination, this site is positioned to deliver long-term value.
This building is directly across from the Pennsylvania Convention Center in one of Philadelphia's most coveted corridors. The CMX-4 zoning unlocks extraordinary flexibility, allowing for significant redevelopment potential, from expanding square footage to upgrading the building’s use for mixed-use, retail, hospitality, or residential projects.
Center City Market East is Philadelphia's prime representation of fast-paced, urban living. Reading Terminal Market is the neighborhood's biggest highlight, considered one of Philadelphia's most notable attractions behind the Liberty Bell and Independence Hall. Along most blocks are shops and national retailers such as Target, T.J. Maxx, and Macy's. The Fashion District is a popular local shopping, dining, and entertainment destination. Jefferson Station is within walking distance for most locals, and many hop on a SEPTA train to reach their destination. SEPTA buses stop at nearly every block. Thomas Jefferson University Hospital is located a mile away, and Philadelphia International Airport is 12 miles away.
Center City, located in the city's downtown area, is the regional economic hub and home to the corporate headquarters of Comcast, FMC, and Aramark. Downtown houses 42% of the city's jobs. Major masterplan development projects nearby, including the Schuylkill Yards and Navy Yard transformation, are additional private and public investments in the region.
Property tours are available by appointment only. Please contact the broker to schedule.
This building is directly across from the Pennsylvania Convention Center in one of Philadelphia's most coveted corridors. The CMX-4 zoning unlocks extraordinary flexibility, allowing for significant redevelopment potential, from expanding square footage to upgrading the building’s use for mixed-use, retail, hospitality, or residential projects.
Center City Market East is Philadelphia's prime representation of fast-paced, urban living. Reading Terminal Market is the neighborhood's biggest highlight, considered one of Philadelphia's most notable attractions behind the Liberty Bell and Independence Hall. Along most blocks are shops and national retailers such as Target, T.J. Maxx, and Macy's. The Fashion District is a popular local shopping, dining, and entertainment destination. Jefferson Station is within walking distance for most locals, and many hop on a SEPTA train to reach their destination. SEPTA buses stop at nearly every block. Thomas Jefferson University Hospital is located a mile away, and Philadelphia International Airport is 12 miles away.
Center City, located in the city's downtown area, is the regional economic hub and home to the corporate headquarters of Comcast, FMC, and Aramark. Downtown houses 42% of the city's jobs. Major masterplan development projects nearby, including the Schuylkill Yards and Navy Yard transformation, are additional private and public investments in the region.
Property tours are available by appointment only. Please contact the broker to schedule.
MATTERPORT 3D TOUR
Matterport 3D Scan
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,000 SF
Building Class
C
Year Built
1940
Tenancy
Single
Building Height
3 Stories
Building FAR
3.00
Lot Size
0.05 AC
Opportunity Zone
Yes
Parcel Number
884446915
Zoning
CMX-4 - Commercial Mixed-Use
Frontage
20’ on Race St
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (78)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
94,807
529,856
985,191
2020 Population
92,822
511,800
966,844
2029 Population
92,786
520,044
966,246
2024-2029 Projected Population Growth
-2.1%
-1.9%
-1.9%
Daytime Employees
214,244
413,873
578,679
Total Businesses
20,247
45,035
62,043
Average Household Income
$120,110
$92,617
$77,647
Median Household Income
$89,266
$63,876
$50,719
Total Consumer Spending
$1.7B
$6.3B
$10B
Median Age
35.3
33.8
34.6
2024 Households
54,943
234,633
409,795
Percent College Degree or Above
35%
23%
18%
Average Home Value
$599,746
$398,349
$299,630
$ values in USD
NEARBY MAJOR RETAILERS
SALE ADVISOR
SALE ADVISOR
Peter Becchina, Realtor
Pete understands that the sale or purchase of a property is one of the largest financial decisions our clients will make, and he takes great pride in facilitating a stress-free experience. Pete takes the time to truly listen to the needs of our clients so he can help them reach their desired outcome through a consultative approach.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
AUCTION CONTACT
Kevin Loudy
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Broker RB068364. Ten-X Commercial Auction Firm AY002443, Auctioneer Arlene Richardson AU006275
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Mixed-Use Value-Add | Redevelopment Potential | 1215 Race St
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Mixed-Use Value-Add | Redevelopment Potential | 1215 Race St
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