401 E Allegheny Avenue

Description

90,000+ SF | Sale or Lease | Approved Expansion | Subdivision PotentialAn exceptional opportunity to acquire one of Philadelphia's most distinctive industrial redevelopment campuses. Encompassing more than 90,000 square feet across two interconnected reinforced concrete buildings, this historic property occupies a highly visible corner along heavily traveled Allegheny Avenue in one of Philadelphia's fastest-evolving industrial and commercial corridors.With demand for adaptive reuse projects, industrial flex campuses, and self-storage conversions continuing to grow throughout the region, this property presents an outstanding opportunity for developers, investors, owner-users, or institutional operators seeking a large-scale redevelopment or long-term investment.The campus consists of:• A 31,500 SF three-story reinforced concrete building fronting Allegheny Avenue featuring approximately 17-foot ceilings on every floor, abundant natural light, and spectacular Center City skyline views from the upper level.• An adjoining 56,000 SF two-story mushroom-column industrial building offering approximately 15-foot ceilings on the first floor, nearly 19-foot ceilings on the second floor, and an oversized interior drive-in loading bay accessed directly from C Street. Approximately 15,000 square feet of the second floor was impacted by a historic fire prior to the current ownership. All fire-damaged materials have been professionally removed and the building has been fully cleaned, providing a clear foundation for future redevelopment.Constructed of reinforced concrete and steel, the property offers the heavy floor loads, wide structural bays, and industrial character increasingly sought after for modern adaptive reuse projects.The property is zoned I-2 and benefits from a recently approved Philadelphia zoning permit authorizing the construction of an additional building above an existing attached structure. The zoning approval also permits retail sales of building supplies and equipment together with wholesale, distribution, storage, and equipment/material storage uses, providing significant future development flexibility. The approved plans also include 38 surface parking spaces, including accessible parking, along with 12 bicycle parking spaces.Potential uses include:Self-storage conversionMulti-tenant industrial campusContractor headquartersManufacturingWarehouse and distributionCreative officeShowroomsFood productionFitness and recreational facilitiesEducational or maker spacesLast-mile logisticsMixed industrial flex redevelopmentThe existing layout also offers the ability to subdivide portions of the campus for multiple tenants or phased redevelopment, allowing investors to create diverse income streams while preserving future expansion opportunities.Environmental remediation has already been completed, including the removal, closure, and regulatory certification of former underground storage tanks, providing purchasers with confidence as they move toward redevelopment or occupancy.The property sits just two blocks from the highly successful D Street Studios adaptive reuse project, illustrating the continued transformation of this section of Philadelphia into a thriving destination for creative businesses, light manufacturing, entrepreneurs, and industrial users. It also enjoys immediate access to I-95, the Delaware waterfront, Port Richmond, Fishtown, Northern Liberties, Center City, and the region's major transportation corridors.Whether your vision is a flagship owner-user headquarters, a high-performing self-storage facility, a multi-tenant industrial campus, or Philadelphia's next successful adaptive reuse project, this rare offering provides the scale, infrastructure, approved development potential, and location to bring that vision to life.