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1312 Spruce Street

PHILADELPHIA, PA 19107
  • $1,990,000
  • STATUS: Active
  • ON SITE: 138 Days
  • ID#: PAPH2005968
UPDATED: 35 min ago
$1,990,000
  • 0
    BEDS
  • 0.04
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1865
County:

School Ratings & Info

Description

Major Reduction! - Don+GGt miss your chance to own a piece of Philadelphia culinary history! This beautifully renovated 1860+GGs mixed use townhome has housed several of Philadelphia+GGs most acclaimed restaurants since 1967, including Le Pantierre, Le Bec Fin, Two Quails, and now by the award winning Vetri. Since 1998 Verti has become one of the most lauded dining establishments in the country, receiving the James Beard Award for Outstanding Restaurant in 2011. The first floor includes a gracious well-appointed dining room as well as a high end commercial kitchen. In 2014 the restaurant remodeled and expanded their space into the upper two floors adding a show kitchen, a private dining room and an event space... The third floor houses the Vetri+GGs offices and additional storage space. The basement area has a walk in freezer, storage for the restaurant and all building mechanicals. Special note: The West side exterior wall of 1312 Spruce features one of Philadelphia+GGs beloved murals, Taste of Summer, inspired by the restaurant. Vetri currently has a long term lease with several renewal options; however the second and third floors can be converted back into apartment use if desired at a later time to provide additional rental income. Currently restaurant pays all building expenses as a triple net tenant. Act now before this rarely offered trophy property gem goes off the market an into a long term real estate investors portfolio.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Lee Tessier Team | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-28T11:49:54.503.
www.marylandrealestatesearch.com/homes/119235589
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1312 Spruce Street PHILADELPHIA, PA 19107

  • Price: $1,990,000
  • Status: Active
  • On Site: 138 Days
  • Updated: 35 min ago
  • ID#: PAPH2005968
0
Beds
0
Baths
0
½ Baths
0.04
Acres
1865
Built
Neighborhood:
19107 (19107)
County:
Philadelphia
Area:
19107 (19107)
School District:
The School District Of Philadelphia
Property Description
Major Reduction! - Don+GGt miss your chance to own a piece of Philadelphia culinary history! This beautifully renovated 1860+GGs mixed use townhome has housed several of Philadelphia+GGs most acclaimed restaurants since 1967, including Le Pantierre, Le Bec Fin, Two Quails, and now by the award winning Vetri. Since 1998 Verti has become one of the most lauded dining establishments in the country, receiving the James Beard Award for Outstanding Restaurant in 2011. The first floor includes a gracious well-appointed dining room as well as a high end commercial kitchen. In 2014 the restaurant remodeled and expanded their space into the upper two floors adding a show kitchen, a private dining room and an event space... The third floor houses the Vetri+GGs offices and additional storage space. The basement area has a walk in freezer, storage for the restaurant and all building mechanicals. Special note: The West side exterior wall of 1312 Spruce features one of Philadelphia+GGs beloved murals, Taste of Summer, inspired by the restaurant. Vetri currently has a long term lease with several renewal options; however the second and third floors can be converted back into apartment use if desired at a later time to provide additional rental income. Currently restaurant pays all building expenses as a triple net tenant. Act now before this rarely offered trophy property gem goes off the market an into a long term real estate investors portfolio.
Exterior Features

Construction Materials Masonry Garage YN No Location Type Urban Parking Types On Street Property Condition ExcellentVery Good Riparian Rights YN No Road Responsibility Public Road Surface Type Black Top Roof FlatRubber View Street Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3510.00 Cooling Central A/C Exclusions All Trade Fixtures Owned By Tenant As Listed in The Lease Flooring WoodCeramic Tile Heating Hot Water Heating YN Yes Net Square Feet 3510.00

Property Features

Accessibility Features None Assessment Year 2021 Association YN No Business Type Restaurant/Bar Central Air YN Yes Cooling Fuel Electric Cross Street Juniper Electric 200+ Amp Service Foundation Details Stone Heating Fuel Natural Gas Historic YN No Hot Water Natural Gas Municipality Philadelphia Navigable Water YN N New Construction YN No Number Of Units Total 0 Original MLSNumber 800812860050 Owner Pays None Ownership Interest Fee Simple Possession Immediate Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 9948.00 Tax Assessment Amount 710700.00 Tax Lot 251 Utilities Under Ground Vacation Rental YN No Water Source Public Year Built Effective 2014 Zoning Cmx2

Listing courtesy of Addison Real Estate Company Inc.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Lee Tessier Team | eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-11-28T11:49:54.503.
 
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