5416 Lena St 24,576 SF Industrial Building Philadelphia, PA 19144 $1,933,680 CAD ($78.68 CAD/SF)

5416–22 Lena Street is a three-story industrial building totaling 24,576 square feet, located just steps from Germantown Avenue in Philadelphia’s 19144 neighborhood. The property sits on a 15,500 square foot lot and presents a fully entitled residential redevelopment opportunity in a rapidly evolving corridor.
From March 2025 through October 2025, ownership pursued and successfully obtained a zoning variance to convert the property from Industrial to Residential Multi-Family use. On October 29, 2025, the Zoning Board of Adjustment approved redevelopment of the existing three-story structure for up to 23 dwelling units, along with 16 accessory off-street surface parking spaces located on the adjacent lot. Please note that the current architectural drawings and financial modeling are based on 19 residential units plus 16 parking spaces, not the full 23 units approved by zoning.
Following zoning approval, a zoning permit was issued. On January 5, 2026, the Department of Licenses & Inspections (L&I) and the Survey District approved a lot line relocation, consolidating the building lot and adjacent side lot into one parcel, one address (5416 Lena Street), and one tax account, simplifying ownership and future development.
The project has been submitted to the Philadelphia Historical Commission, with an upcoming hearing anticipated later this month. The submission includes full architectural and structural drawings. Upon historic approval, ownership plans to proceed with building permit submission, currently targeted for March–April 2026.
This offering provides a rare opportunity to acquire a zoning-approved, shovel-ready redevelopment site with parking, consolidated parceling, and advanced entitlement progress in Northwest Philadelphia.