2557 Amber St, Philadelphia, PA 19125

Property Description

Prime location in East Kensington / Fishtown! 2557 Amber Street offers an amazing opportunity to own an income-producing asset along Frankford Avenue’s bustling Business Corridor. Surrounded by new construction and new businesses, this property stands out due to its LARGE 28’ x 75’ footprint, mixed-use CMX2 zoning, and classic Philly character. The first-floor commercial space and facade were fully renovated in 2019 with many significant improvements, including commercial windows and doors, new water and electrical service, an ADA-compliant entrance ramp and customer bathroom, new HVAC, kitchen, and retail area with modern finishes. Casa Borinqueña Restaurant currently occupies the space under a NNN lease through 2030, with a tenant option to renew through 2035. The commercial lease includes 3% yearly increases for consistent income growth. Two full-floor loft-style apartments occupy the 2nd and 3rd levels of the building, featuring hardwood floors, in-unit laundry, central air, modern kitchens and baths, and large windows that give each unit tons of natural light. Both units have a strong rental history and are leased through September 2026 (Unit 2) and December 2026 (Unit 3).