4401-4427 Lancaster Ave, Philadelphia, PA 19104

Description

Major Price Reduction – Now Offered at $975,000 | Prime Development Opportunity in West Philly's QOZ

Previously listed at $1.1 million, this rare 10,000+ sq ft corner development site is now available for $975,000 — a significant reduction for one of the most strategically located parcels in West Philadelphia.

Situated at the high-visibility corner of Lancaster Ave and Belmont Ave, this property serves as the gateway to West Philadelphia, connecting University City to City Line Ave. This CMX-2 zoned assemblage includes 4401, 4421, 4423, 4425, 4427 Lancaster Ave and 892–894 Belmont Ave, totaling approximately 10,084 sq ft of land.

Development Highlights:

CMX-2 zoning allows for by-right mixed-use development

Conceptual plans for 25–30 residential units with commercial on the ground floor

Corner lot with double frontage and strong walkability

Potential zoning bonuses for green roof and affordable housing set-aside

Located in a Qualified Opportunity Zone (QOZ), offering substantial tax advantages

Site is flat and cleared; former gas station tanks have been filled with sand

Transit-Oriented Location:

Immediate access to SEPTA trolley and bus routes

Minutes to University City, Center City, and the Main Line

Easy access to Route 1, City Ave, and I-76

Why QOZ Matters:

Defer capital gains tax until 2026

Reduce gains if held 5–7 years

Pay zero tax on appreciation if held for 10+ years

This is a perfect opportunity for developers or investors seeking to capitalize on the growth of West Philadelphia with a shovel-ready vision in a booming corridor. The surrounding area is seeing ongoing commercial and residential development — this site puts you right in the mix.

Zoning analysis, preliminary architectural work, and proforma available upon request.

New Price: $975,000 (Previously $1.1M)
Delivered as-is. Buyer responsible for due diligence.