How much does it cost to buy a post office? On the edge of Fishtown, $5.5 million
The property sits near popular restaurants Kalaya and Suraya.
A post office is for sale on the edge of Fishtown.
The Kensington Post Office, at 1602 Frankford Ave., which has been a U.S. Postal Service outpost for over 60 years, is listed by MPN Realty for $5.5 million.
MPN is marketing the property as a redevelopment opportunity. It’s the latest such example of a distinctive Philadelphia-area property seeking new life, like the Ambler castle that listed in 2024 with bids starting at $1.5 million, or the former church in Society Hill that a local couple bought to be their home for $2.5 million last year.
The site is near popular restaurants Kalaya and Suraya and a short walk from other eateries in the neighborhood including Middle Child Clubhouse, Pizzeria Beddia, as well as the La Colombe Coffee Workshop.
The current owner is looking to sell the property as the post office lease comes to an end in July 2027, according to a real estate listing brochure. The post office is expected to relocate to another site, the brochure indicates.
The 12,000-square-foot site includes the nearly 7,500-square-foot post office building and an additional outdoor eight-car parking lot.
The facility was built in 1964 by Ricciardi Construction Company, and the Kensington Station Post Office signed a lease there the following year. A member of the Ricciardi family is the current owner of the property, according the MPN Realty brochure.
Under current zoning, a newly constructed three floor mixed-use development building could replace the current facility with a commercial option on the first floor, and apartment units above it, the real estate brochure outlines. The lot could also be converted into commercial use entirely for retail or a restaurant, it notes.
The surrounding area has seen a slew of new development projects in recent years including hotels and residential units. Hotel Anna & Bel opened in 2024, and a 59-unit hotel is being planned on Frankford Avenue. Recent residential projects include townhouses planned for the former site of St. Laurentius Roman Catholic Church.
The U.S. Postal Service has been facing financial challenges in recent years. This week, postmaster general David Steiner, told lawmakers that the Postal Service would run out of funds to operate within a year if restrictions were not loosened on its ability to charge and borrow more money. The Postal Service typically operates without tax dollars and independently funds itself through sales.