3 building package sold at 12th and Passyunk
The three-building package on the prominent corner of 12th and Passyunk sold in May for $765,000, according to Zillow. That’s more than $200,000 shy of the original list price in April 2014.
The buildings, which are 1709, 1711 and 1713 S. 12th St., at Passyunk and Watkins, also include four apartments. The listing had said that all the residential leases were month to month, providing “potential for significant increase in rental income.”
We’re not quite sure what’s going to happen with the buildings, though a reader told us yesterday that some stucco work was being done on the Watkins Street side. We couldn’t get in touch with the owner of Jillayne’s to see what’s up, and a message left at the dollar store wasn’t returned.
The city’s property records have not yet been updated to include the sale, so we’re not sure who bought it.
The realtor listed on the signs told us yesterday she would pass along our contact information to the buyer, but we haven’t heard back yet.
The sold properties are next door to the new Palo Santo wellness boutique, which opened in April. Incidentally, the building one door up from that at Morris Street with furniture store Interior Concepts has been taken off the market. Apparently, $2.9 million may have been a bit much.
I have a high level of confidence that the “month-to-month” leases are only the residential leases. The Dollar Store has several years left on its lease, I think.
You know what. You’re right. Thanks for keeping me honest.
Thanks for confirming! It was confusingly worded. I just happened to know that the Dollar Store fairly recently re-upped.
That’s disappointing, the dollar store may be the biggest eyesore on the avenue.
Hopefully one day those 3 buildings will have the interior walls taken out to make it a nice restaurant. There’s room there for outdoor seating as well. I wonder how long the Dollar Store renewed their lease for? I’m sure there’s ways for the new owner to breach the contract, but who knows at what expense…
I’m all for new businesses coming into these storefronts but I think they would be better off staying separate. Three smaller storefronts, rather than combining them into one, offer more variety and therefore increase walkability (higher density of unique establishments). The smaller storefronts also help keep costs low for both businesses and customers.
I happen to like the dollar store.
It aint pretty, but they sell some useful stuff and have some of the best hours on the avenue……
Agreed. It could use some cleaning up on the front, but the staff is great and they have things you can’t find anywhere else nearby.
I’m with you. It will suck greatly if that Dollar Store is chased away. They have every basic household supply I need in a pinch, they rescued a cat and they’re super nice people. I wouldn’t mind if the lottery went away from that store (and Passy Market for that matter) but that’s a whole other animal.