UNIVERSITY CITY PROPERTY - Hickman Temple AME dominates the corner of 50th Street and Baltimore Avenue in West Philadelphia. This block-long, century-old church of slate and stone is a neighborhood icon in Cedar Park, a fast-changing neighborhood on the outskirts of the territory serviced by the University City District. The building has beautiful mahogany wood throughout, cathedral and stained glass windows. The lower level of the building was used for a daycare and learning center. The building is need of repair, but for the right buyer, this property can be transformed and returned to its former glory. There are multiple offices, classrooms and multipurpose areas.
This particular of University considered a good site in terms of its location, exposure, and access to employment, education and shopping centers, recognizing its location along a major arterial.
The property has good access to main transportation roadways and public transit. Main roadways
accessible to the building include I-76, I-676, I-95, and I-476. These major roads allow for efficient access to the surrounding region, as well as interstate travel. Baltimore Avenue is a primary commercial corridor in West Philadelphia improved with neighborhood serving retail and commercial uses. Public transit accessible to the subject property include the SEPTA Route 34 Trolley. With the existing transportation system, most areas of the metropolitan Philadelphia are accessible from the neighborhood and access is considered good for the metropolitan area.
The property is located in the Cedar Park neighborhood of West Philadelphia. The market benefits from a diverse blend of residential, commercial, and community uses and close proximity to recreational activities. The property is located in an area which is experiencing stabilization. Baltimore Avenue has evolved into the primary commercial corridor for locally owned businesses in West Philadelphia. It currently serves as an epicenter of commercial activity for this section of the City.
Based on the above factors the property is considered to have above average investment appeal. Further, the property is considered to have good overall tenant appeal with a typical competitive position for attracting and retaining tenants.