Option A: You buy a 960 square foot retail space at 1614 Spruce Street which may or may not continue as Margarita’s Beauty Salon. Option B: You purchase a five-bedroom home with private garage parking and a jaw-dropping roofdeck at 304 S. Smedley. Option C: You wind up with A and B because they both comprise the same property. Whomever buys this Rittenhouse Square mixed-use property will have some decisions to make.
The listing notes that the future is uncertain for Margarita’s, mentioning that owners could allow the tenants to stay on or could open a business of their own. Other options include turning the square footage into a rental unit or deciding to reabsorb it into the home.
The private home has a separate, Smedley Street entrance next to the garage parking. It features all the details that usually make us swoon over luxury Rittenhouse real estate: leaded windows; built-in library shelves with an adjacent window seat; a soaking tub; and a giant terrace with skyline views. The home also features skylights and bay windows in case you need even more daylight. The lower level is finished but stands mostly empty other than a laundry area and office.
THE FINE PRINT
Square feet: 3,000
Price: $1.895 million
1614 Spruce Street, Philadelphia
Listing: 1614 Spruce Street, Philadelphia, PA 19103