This location is available and would be the only currently available for a Fitness Center on Market Street in Old City Philadelphia
I would like to introduce you to 312 Market Street. Located near the Historic Benjamin Franklin Post Office in Old City Philadelphia, the location lends itself to another use other than a Restaurant, Bar and or Night Club that already surrounds the area.
It’s perfect for a Fitness Center, and here’s why:
There are no other fitness centers on Market Street in Old City, Philadelphia. This is a main-main opportunity — for those in the know.
We have a first floor layout that is perfect for the fitness center environment and there is already sound attenuation throughout.
Remember this was a night club, bar and restaurant, so the open environment in the main ballroom certainly lends itself to typical layouts and design.
Take a look at the Household Income Census. We see young professionals that need and want a fitness center they can walk to. We did our area analysis based on a 10 block radius in all directions and we have the density.
We also have a young and urban professional component that comprises the Old City business and residential districts.
Look at the population trends. We see a neighborhood environment that can afford to be in a fitness Center in a central location. Imagine the unique visibility to be the first Fitness Center on Market Street in Old City and the historic walking tour of Old City goes right by the building.
The layout and existing design offers leasing space more than 10,700 SF +/- that comprises the first floor and Mezzanine and does not include the extra Sq. Ft. in the basement, which would be perfect for locker rooms.
In most fitness centers, you have a cardio component, the elliptical, the Bikes and the tread mills on a second level, looking out at suspended flat screen TV’s and the floor has a combination free weights and every type of machine for every combination of component.
Without any significant changes in design, this can be achieved in this location.
While the immediate front and bar area may be considered for desks and offices, and a greeting and log-in area.
As much, as I would like to point to the existing layout and design, a hidden piece to the perfect location for a fitness center, is the proximity to the Penn’s Landing Riverfront and the ever-popular cross fitness regimen of indoor and outdoor activities. This proximity to the Riverfront is an added attractant when considering this location above all others not on Market Street in Old City to be of prime importance.
In this view we can see the existing Mezzanine which overlooks the main ball room, and a map of the area depicting historical attractions.
In this slide we see the front of the Restaurant and the bar area, imagine this becoming a juice bar and or area for the offices and greeting area for patrons to check in.
We can also see a map of Old City and information on the neighborhood. And area Highlights!
We believe converting this unique restaurant and Bar, which is stunning in its current state to a top of the line, cutting edge and chic Fitness Cente,r is the highest and best use for the property.
The owners could have asked for rents in the mid $20s but instead chose to market this at $19.50 PSF Base plus full NNN charges.
In other words this is an opportunity! that anyone connected with the fitness center industry, if you’re an owner / operator or have the ability to see an opportunity, then this is something you need to see.
For more information and to have an on sight inspection of premises, please
contact Jack W. Intrator
Brokers are Welcome and encouraged!