Prime Development Opportunity in Qualified Opportunity Zone – 12,980 SF Double Lot with CMX2 Zoning, parcels include 5532-5540 Chestnut St. Located in a thriving commercial corridor just west of University City, this remarkable 12,980 sq. ft. double property offers unmatched potential for investors or developers. The lots sit in a Qualified Opportunity Zone and is zoned CMX2, allowing for a wide range of commercial and residential uses. The existing structure currently houses a successful auto and tag shop, featuring: Two separate offices with private entrances, a spacious auto service bay that accommodates eight cars, a secure rear lot with room for eight additional vehicles, three half bathrooms and an attached 22-space parking lot supporting business operations Strategically located near Penn and Drexel Universities, this site sits at the forefront of University City’s westward expansion. It’s highly accessible via public transportation, including the SEPTA Market-Frankford Line, and offers easy pull-in access from Chestnut Street. Surrounded by high-traffic national retailers such as Wendy’s, Rite Aid, Fresh Grocer, and Dunkin’ Donuts, all within a two-block radius, this site benefits from strong daily foot and vehicle traffic.Whether you're seeking a long-term investment, income-producing asset, or a major redevelopment opportunity, this rare parcel delivers on location, flexibility, and future upside in one of Philadelphia’s most vibrant and evolving neighborhoods. All showings must be made with listing agent. No showings during business hours.