4520-40 WORTH ST

Estimated Monthly Payment: $35,706/mo 4520-40 WORTH ST, Philadelphia, PA 19124 MLS# 6866084 Area: 19124 Commercial Listing Status: Active
151,000 sqft
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Where Art Meets Industry! Welcome to Globe Dye: a collection of 10 buildings stretching from Torresdale to Worth along Kinsey Street, comprising approximately 150, 000 square feet of which 68, 000 is currently occupied. The current ownership group has undertaken a painstaking and architecturally accurate renovation that has brought this once broken factory, constructed in stages from 1867-1895, back to life. Its current tenant roster boasts manufactures of many stripes: coffee roaster, ice cream company, caterers, a boat building school, a luxury car dealer, woodworkers, photographers, designers and non-profits. The spacious lobby and management office are found at the main entrance off of Worth Street. The old power plant is permitted for renovation to become a world-class event space. Several spaces are currently in the midst of renovation with 5 as live/work. The entire building is sprinklered and the renovations are all top-notch. Multiple loading bays, interior walkways, freight elevators. Many units are drenched in light. 20, 000 square feet on two floors are fully permitted and ready to be developed. A truly multifaceted investment opportunity, there is plenty of square footage left to develop while generating over $550, 000 in revenue as currently configured. There has been enormous excitement about projects like this in Philadelphia for some time: the Bok School and Maken Studios are two recent examples. There are few spaces in Philadelphia better positioned to become the premier location for that intersection of art, business and architecture where this much of the heavy lifting which has already been completed. Extensive infrastructure improvements include individually metered utilities for each tenant space, extensive storm water management system, functional loading bays, HVAC, and triple phase electric. This is an incredible opportunity to purchase a stablized investment with room to grow.


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