Thomas Jefferson University has put a 10-story Center City building on the market. The property sits at 919 Walnut Street and totals about 136,000 square feet. Jefferson is asking $13.5 million, which equals $99 per square foot.
The building currently carries a university-use designation. However, it sits in a CMX-5 zoning district, Philadelphia’s least restrictive zoning category. As a result, the site allows residential, commercial, and other mixed uses.
According to the listing from Greenwood CRE, the property offers a rare chance for investors to reimagine a historic building in a prime urban location. Built in 1910, the structure is mostly vacant. The listing also categorizes it as an “owner user” opportunity.
Even so, the property can support many possibilities. Potential uses include residential, office, hospitality, retail, or institutional development.
Jefferson bought the building in 2013 for $13 million, according to public records. University representatives did not return requests for comment.
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