Two-Level Flex
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For Sale
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1 BLACKHORSE LN, Media, PA 19063
Commercial flex space offers garage access with ground-floor and upper-floor areas.
Property Size3,500 SF
Price / SF$256.86
Days on Market7
Property Features for 1 BLACKHORSE LN
General Information
Standard status
Active
Size
3,500 SF
Class
A
Property subtype
Office, Industrial
Additional Details
Drive-In Doors
2
Building Details
Year Built
1975
Buildings
1
Stories
2
Units
1
Listing Agency:
Zommick McMahon Commercial Real Estate Inc
(484) 354-4042
Listed By:
Jared Matthias · License #PA
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 1:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Zommick McMahon Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
This 3,500-square-foot flex property is arranged across two levels, providing 2,000 square feet on the ground floor and 1,500 square feet above. Two garage doors support the building’s functional layout and provide direct vehicle access. Constructed in 1975, the property combines adaptable flex-space configuration with both lower- and upper-level areas.
Key Highlights
- 3,500 SF flex property
- 2,000sf ground‑level area
- 1,500sf second‑floor area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,380
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,147,600
$1.1M
Cap Rate 7%
$819,714
$819.7K
Cap Rate 9%
$637,556
$637.6K
Market Conditions
NOI Build-Up for 3,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$92.4K $26.40/SF
− Vacancy
−$15.9K −$4.54/SF
EGI
$76.5K $21.86/SF
− OpEx
−$19.1K −$5.46/SF
NOI
$57.4K $16.39/SF
Area
Delaware County, PA
Vacancy
17.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,147,600
Cap Rate 7%
$819,714
Cap Rate 9%
$637,556
Alternative Uses
Best Use
Office B
$819.7K
$717.3K – $956.3K
NOI $57,380 @ 7.0% cap · market cap 6.38%
Second Best
Flex RnD
$349.8K
$306.0K – $408.1K
NOI $24,483 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$1.06M
$928.5K – $1.24M
NOI $74,282 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19063, PA
38,338
Population
16,128
Households
2.4
Avg Household Size
46
Median Age
60%
College-Educated
97%
High-School Grad
25.1 sq mi
ZIP Area
1,527
Density / Sq Mi
$121,899
Median Household Income
$70,147
Median Earnings
$1,623
Median Rent
$505,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial flex space offers garage access with ground-floor and upper-floor areas.
Where is this flex space located?
The property is located at 1 BLACKHORSE LN Media, PA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 3,500 SF flex property; 2,000sf ground‑level area; 1,500sf second‑floor area
