By-Right Development Opportunity | 32 Units 1333 Race St Bureau 1 254 m² 100 % Loué À vendre Philadelphia, PA 19107 1 960 447 € (1 563,12 €/m²) Taux de capitalisation 5,90 %

Global Real Estate Advisors (GREA) extends to well-qualified investors the unique opportunity to acquire the fee simple interest in 1333 Race Street, a centrally located property offering a rare redevelopment opportunity in the heart of Center City Philadelphia. Positioned just steps from Broad Street on the highly visible and well-traveled Race Street corridor, the site benefits from exceptional accessibility and walkability.
Located within the Market Street East submarket, the Property sits blocks from key landmarks such as the Pennsylvania Convention Center, Philadelphia City Hall, and the vibrant Chinatown neighborhood. Transit connectivity is a major advantage, with SEPTA’s Jefferson Station only a short walk away, providing seamless access to regional rail and public transportation options across the city and beyond.
The parcel, which spans approximately 4,888 square feet, is zoned CMX-4, allowing for by-right development of up to 32 residential units without the need for a zoning variance. This zoning classification provides significant flexibility and streamlines the development process, making the property an ideal candidate for multifamily or mixed-use redevelopment.
Currently, the site is improved with a two-story, 14,664 square foot office building that includes an elevator. The building has long been occupied by a prominent Philadelphia law firm, offering potential short-term income for investors seeking to generate revenue during the planning and entitlement phases of redevelopment.
1333 Race Street represents a unique opportunity to acquire a well-located asset in one of Philadelphia’s most dynamic and high-demand urban neighborhoods. Its central location, strong transit links, favorable zoning, and redevelopment potential make it a compelling acquisition for investors and developers focused on growth in core urban markets.