Located just blocks away from the vibrant retail and dining scene on Main Street and Ridge Avenue, this prime corner building offers a fantastic investment opportunity in one of Philadelphias most sought-after neighborhoods. With a total of 2,918 square feet, this mixed-use property combines residential and retail space, making it an ideal choice for investors looking to capitalize on both long-term rental income and the potential for a thriving retail business. The first-floor retail space, previously a successful restaurant tavern, comes with a commercial kitchen space and hood system, walk-in cooler, bar layout and seating for 40-60 patrons. The property comes with the potential to acquire a liquor license, which will be sold separately from the property itself. This license allows for full-service alcohol service, including outdoor seating, offering tremendous flexibility for a bar or restaurant business. The CMX1 zoning permits additional uses including a deli/grocery store, daycare facility, boutique, financial services, pet store, or medical practice. Above the retail space, there are two newly renovated 1-bedroom apartments on the 2nd and 3rd floors, each featuring modern updates including new flooring, stainless steel appliances, a washer and dryer in each unit and stylish new bathrooms. Located in a high-demand, thriving neighborhood, this mixed-use property is an excellent investment with great potential for both rental income and business ventures.
Presented By: Compass Pennsylvania, LLC
Interior Features for 3847 Terrace Street
Bedrooms
Three Bedroom Units Count
Other Interior Features
LivingAreaSourceAssessor
Central Air Y/NYes
Fireplace Y/NNo
Furnished UnitsNone
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterNatural Gas
General for 3847 Terrace Street
Acceptable FinancingCash, Conventional, FHA, VA
AccessibilityNone
Architectural StyleTraditional
CityPHILADELPHIA
Construction MaterialsMasonry
Cool FuelNatural Gas
CoolingCentral A/C
CountyPHILADELPHIA
DirectionsUse 3847 Terrace Street, Philadelphia for GPS.
Garage Y/NNo
HeatingHot Water
Lot Size Square Feet1569.00
Lot Size UnitsSquare Feet
MLS Area19128 (19128)
ModificationTimestamp2025-04-15T12:38:28
MunicipalityPHILADELPHIA
New ConstructionNo
Number Of Units Total3
NumberOfUnitsVacant3
One Bedroom Units Count2
Other StructuresAbove Grade, Below Grade
OwnershipFee Simple
Possession0-30 Days CD, 31-60 Days CD, 61-90 Days CD
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