Industrial Flex Building with
For Sale
$1,499,000
1028 S 3rd Street, Lansdowne, PA 19050
Industrial flex building with 3 offices, 16' ceilings, and a fenced gravel lot with three garage doors.
Property Size12,000 SF
Lot Size0.37 Acres
Price / SF$124.92
Days on Market137
Property Features for 1028 S 3rd Street
General Information
Standard status
Active
Size
12,000 SF
Lot size
0.37 Acres
Property subtype
Commercial
Lease Term
[]
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Heavy Power
Yes
Building Details
Year Built
1950
Listing Agency:
Keller Williams Main Line
Listed By:
Bryan Clay · License #RS345751
(610) 348-7490
Source:
Deepcreeklake
Added: Apr 23
Changed: Sep 5
Last Checked: Sep 5 at 9:30AM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
This industrial flex property includes a 12,000 SF warehouse/flex building designed for combined operations, along with a 16,000 SF fenced-in gravel lot. The building features 16' ceilings, three garage doors, phase III power, three offices, and three bathrooms. The office area is equipped with heat and air conditioning, while the warehouse includes ceiling-mounted gas heaters.
The property is made up of five parcels. This configuration provides flexibility for owner-operator use and space for tenants within the building and across the fenced lot.
With multiple access points via the garage doors and dedicated office and restroom facilities, the space is set up for mixed use between office support and warehouse operations.
The property is made up of five parcels. This configuration provides flexibility for owner-operator use and space for tenants within the building and across the fenced lot.
With multiple access points via the garage doors and dedicated office and restroom facilities, the space is set up for mixed use between office support and warehouse operations.
Key Highlights
- 12,000 SF industrial flex building with 16' ceiling height
- Includes 3 garage doors and 3 offices plus 3 bathrooms
- Warehouse features ceiling‑mounted gas heaters; offices have heat and air conditioning
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
$83,940
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
5.60%
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%
$1,678,800
$1.7M
Cap Rate 7%
$1,199,143
$1.2M
Cap Rate 9%
$932,667
$932.7K
Market Conditions
NOI Build-Up for 12,000 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
$136.8K $11.40/SF
− Vacancy
−$7.7K −$0.64/SF
EGI
$129.1K $10.76/SF
− OpEx
−$45.2K −$3.77/SF
NOI
$83.9K $7.00/SF
Area
Delaware County, PA
Vacancy
5.60%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
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%
$1,678,800
Cap Rate 7%
$1,199,143
Cap Rate 9%
$932,667
Alternative Uses
Best Use
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $83,940 @ 7.0% cap · market cap 5.60%
Second Best
Industrial
$1.04M
$909.8K – $1.21M
NOI $72,784 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$3.64M
$3.18M – $4.24M
NOI $254,680 @ 7.0% cap · market cap 16.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19050, PA
29,176
Population
12,695
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
3.7 sq mi
ZIP Area
7,885
Density / Sq Mi
$62,517
Median Household Income
$44,408
Median Earnings
$1,166
Median Rent
$188,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building with 3 offices, 16' ceilings, and a fenced gravel lot with three garage doors.
Where is this flex space located?
The property is located at 1028 S 3rd Street Lansdowne, PA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 12,000 SF industrial flex building with 16' ceiling height; Includes 3 garage doors and 3 offices plus 3 bathrooms; Warehouse features ceiling‑mounted gas heaters; offices have heat and air conditioning
