115 Cuthbert Street B #BPhiladelphia, PA 19106
The History MPN Realty is pleased to exclusively present for sale a 2,312 SF bi-level office condominium in Philadelphia~s Historic Old City, designed by David Beck. The property is located on the corner of Mascher and Cuthbert Streets, which are two of the area~s cherished landmark blue-glazed, Belgian cobblestone streets. 115-119 Cuthbert Street (AKA 53 Mascher Street) was originally the Marquetand Candy Company manufacturing facility. This historic factory building was completely redeveloped in 1982 into luxury loft apartments and renamed ~The Chocolate Factory~ (This is not to be confused with The Chocolate Works also in Old City). The high-end renovation included stunning features, massive oak beams, maple hardwood floors and exposed brick with large factory-sized windows. The Property ~Unit B~, the subject of this offering, is the only commercial unit in the building and is currently being used as a professional office space. The unit~s permitted use is commercial, but residential could also be permitted. Compatible uses would include an office for an accountant, dentist, lawyer, architect, tech firm or marketing firm as a few examples. There is a reception area or informal meeting area at the front entrance. Also on the main floor are a large interior office, two other private offices, a full bathroom (including tub and shower), a storage room, and an exit to the rear. The lower level is welcomed with a dramatic two-story atrium space, which is carved out of the first level and allows for the large windows on Cuthbert Street to flood light into the space. There is an open office area/meeting area in the atrium, a large private office, a kitchen, dining or conference area, a second full bath and additional storage in the HVAC room. Since this is a condominium property, there is a monthly condo fee of $752.14 which includes trash removal, snow removal, common area maintenance, window cleaning, insurance, and capital reserves. The 2019 real estate taxes were recently appealed and lowered to $6,472.The unit has 50 feet of frontage with large windows along Cuthbert Street. Across the street are historic two-story houses, much like houses one might find in Society Hill. It~s located between Front Street and 2nd Street, one block from the Market Street Old City Commercial Corridor and one block from the Market-Frankford subway entrance. The Tenant: 914 Pictures (Film Company) Current lease expires in one year (March 2020). Tenant pays all utilities except condo fee and taxes. Rent is $45,600 (monthly $3,800).
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