A post office in Fishtown has been put up for sale with it likely being redeveloped after finding a buyer, writes Paul Schwedeslson for the Philadelphia Business Journal.
For 61 years, the Fishtown property has been a part of the bustling Frankford Avenue commercial corridor.
The 12,000-square-foot, 0.28-acre property is owned by the Ricciardi family, which also developed the post office building in 1965.
The asking price for the property is $5.5 million.
With a lease that is set to expire on July 31, 2027, the United States Postal Service is planning to relocate the branch.
In addition to being zoned CMX-2, the property is able to accommodate a mix of commercial and residential uses, leaving several options open for redevelopment opportunities.
“This site is in a premier location,” said MPN Realty listing agent Josh Nadel. “It’s one of the last premier Frankford Avenue development sites now.”
He added that the property has a chance to join one of Philadelphia’s most attractive commercial corridors.
Nadel also believes that the building will likely be demolished to allow for a ground-up development because “that’s what makes the most economic sense.”
Read more about the 61-year-old post office building that is now on the market in the Philadelphia Business Journal.
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