The mail is still moving, but the future is up for grabs at one of Fishtown’s longest-running addresses.
A one-story post office that has anchored the 1600 block of Frankford Avenue for roughly six decades is now on the market as a redevelopment opportunity. The building at 1602 Frankford Ave sits mid-block on the neighborhood’s restaurant corridor and is being pitched as one of the rare buildable parcels in central Fishtown. Neighbors and developers are already speculating on whether the site ends up as housing, retail, or a mixed-use project that tries to do a bit of everything.
As reported by the Philadelphia Business Journal, the property is being described as a 60-year post office and a redevelopment play, with brokers emphasizing its position between several Frankford Avenue restaurants. The March 17, 2026 piece notes that the listing frames the site as ripe for new development in Fishtown’s commercial corridor.
Listing details from the broker
Broker materials show the owner is asking $5.5 million, according to CityFeet, and that MPN Realty is marketing the property as a roughly 12,000-square-foot development parcel with 100-by-120-foot dimensions, as outlined on LoopNet. The building was constructed for the Postal Service by Ricciardi Construction, and the original USPS lease dates to about 1965.
The current lease runs through July 31, 2027, after which the post office “intends to relocate,” according to the LoopNet listing. Those same broker materials note that the site is zoned CMX-2 and is being marketed for mixed uses, which sets the stage for everything from apartments over retail to a fresh round of restaurant space on a block that has already seen plenty of investment.
Redevelopment potential
The listing highlights walkability and opportunity-zone status that could appeal to both residential and retail developers. CMX-2 zoning would allow a range of mixed-use schemes, provided a buyer is willing to navigate the timing around the existing lease.
Property details on CityFeet list the lot at roughly 0.28 acres and reiterate its position as a compact infill play on a busy commercial block, complete with broker materials and a marketing flyer aimed squarely at developers hunting for central Fishtown land.
Timing and next steps
Because the USPS lease does not expire until July 31, 2027, any buyer would either have to wait out the tenancy or coordinate a relocation plan with the Postal Service, according to the broker materials. The listing notes this is the first time the Ricciardi family has offered the property in about 60 years and that it went on the market in February 2026, which means a sale and a redevelopment plan could unfold over the next year or two as tenants and neighbors weigh in.
Those timelines are spelled out in the LoopNet offering memorandum.
For now, developers, neighbors, and regular postal customers have a clear sign that changes could be coming to this stretch of Frankford Avenue. The offers that emerge will determine whether Fishtown gets more housing, more shops, or a completely different reuse of one of the corridor’s few buildable parcels. We will monitor filings and the offering memorandum for updates as the property moves through the market.
