718 CHESTNUT ST Philadelphia, PA 19106
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 9,555 sqft
Price per Sqft $344
MLS Listing ID PAPH2528930
Year Built 1900
Annual Tax Amount $35,287
Tax Year 2025
Lot Size 3,302 Sqft
Acres 0.08
Lot Dimensions 23.00 x 145.00
Property Sub-Type Retail
Source BRIGHT
Property Description
718 Chestnut Street presents a rare opportunity to own a premier mixed-use property in the heart of Philadelphia's historic Old City/Center City East district. Offered at $3,291,500, this high-profile building is located along one of the city's most iconic commercial corridors, surrounded by world-class dining, shopping, cultural landmarks, and transit options.
Zoned CMX-5 (Commercial Mixed-Use – highest density in Philadelphia), the property allows for maximum development flexibility including retail, restaurant, office, hotel, cultural, and multi-family residential uses. With no maximum height and generous FAR allowances, this site is ideally suited for investors, developers, and end-users seeking a flagship location in Philadelphia's urban core.
Highlights:
Prime location between 7th & 8th Streets, steps from Independence Hall, the Liberty Bell, Washington Square, and Jefferson/PA Hospital.
Walking distance to public transportation, including the Market–Frankford Line (8th & Market Station) and multiple SEPTA bus routes.
High-visibility frontage along Chestnut Street with steady foot and vehicle traffic.
Surrounded by thriving retail, dining, and entertainment destinations in Old City and Center City.
Flexible CMX-5 zoning enabling significant redevelopment or repositioning potential.
Whether repositioned as a flagship retail space, redeveloped into luxury residential units, or transformed into a mixed-use tower, 718 Chestnut Street offers unmatched visibility, density, and long-term upside in one of the nation's most historically significant and economically vibrant urban neighborhoods.
Location
State PA
County Philadelphia
Area 19106 (19106)
Zoning CMX5
Interior
Hot Water Natural Gas
Cooling Central A/C
Heat Source Natural Gas
Exterior
Water Access N
Accessibility Accessible Switches/Outlets, Elevator, Grab Bars Mod, Level Entry - Main, Mobility Improvements, Ramp - Main Level, Roll-in Shower, Other
Garage N
Building
Sewer Public Septic, Public Sewer
Water Public
New Construction N
Schools
School District Philadelphia City
Others
Tax ID 881301300
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Other, Standard
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