Multi-Tenant Flex Industrial
For Sale
Contact for pricing
105-135 W Erie Avenue, Philadelphia, PA 19140
Fully sprinklered, heated and cooled flex/industrial building offers three leased spaces in an I2 Medium Industrial zone.
Property Size44,629 SF
Lot Size1.59 Acres
Price / SF$112.03
Days on Market103
Property Features for 105-135 W Erie Avenue
General Information
Standard status
Active
Size
44,629 SF
Class
B
Lot size
1.59 Acres
Property subtype
Retail, Industrial
Zoning
I2 Medium Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Blueprint Commercial
Listed By:
Gerry Smith · License #RS249249
Source:
Crexi
Added: May 27
Changed: Aug 14
Last Checked: Sep 5 at 1:52PM
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 Blueprint Commercial
Investment Insights
Based on property information with market context.
105-135 W. Erie Avenue is a c. 1900 masonry construction flex/industrial building totaling 44,629 SF across four units. The property is fully sprinklered and includes heated and cooled warehouse and flex space. Current occupancy is 100% leased to three tenants: Yale Electric (22,500 SF), Brightside Academy (11,869 SF childcare), and Unico Auto Repair (10,260 SF).
The building is situated on a 1.59-acre parcel zoned I2 Medium Industrial, providing a practical platform for industrial-oriented users and flexible tenant configurations. The offering includes a multi-tenant structure with multiple distinct spaces rather than a single-tenant layout.
For buyers seeking an owner-operator or investment with established in-place tenants, this property provides diversified end-user types within industrial flex space, including electrical services, childcare, and auto repair. With heated and cooled areas and sprinkler protection throughout, it supports a range of operating needs while remaining consistent with the property’s industrial zoning foundation.
The building is situated on a 1.59-acre parcel zoned I2 Medium Industrial, providing a practical platform for industrial-oriented users and flexible tenant configurations. The offering includes a multi-tenant structure with multiple distinct spaces rather than a single-tenant layout.
For buyers seeking an owner-operator or investment with established in-place tenants, this property provides diversified end-user types within industrial flex space, including electrical services, childcare, and auto repair. With heated and cooled areas and sprinkler protection throughout, it supports a range of operating needs while remaining consistent with the property’s industrial zoning foundation.
Key Highlights
- 44,629 SF multi‑tenanted flex/industrial building built c. 1900 on a 1.59‑acre parcel
- Fully sprinklered building with heated and cooled warehouse/flex space across four units
- 100% leased to three tenants: Yale Electric (22,500 SF), Brightside Academy (11,869 SF), and Unico Auto Repair (10,260 SF)
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
$456,490
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
9.13%
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%
$9,129,800
$9.1M
Cap Rate 7%
$6,521,286
$6.5M
Cap Rate 9%
$5,072,111
$5.1M
Market Conditions
NOI Build-Up for 44,629 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
$583.7K $13.08/SF
− Vacancy
−$46.7K −$1.05/SF
EGI
$537.0K $12.03/SF
− OpEx
−$80.6K −$1.81/SF
NOI
$456.5K $10.23/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
15.00%
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%
$9,129,800
Cap Rate 7%
$6,521,286
Cap Rate 9%
$5,072,111
Alternative Uses
Best Use
Retail
$7.21M
$6.31M – $8.41M
NOI $504,406 @ 7.0% cap · market cap 10.09%
Second Best
Flex RnD
$6.71M
$5.87M – $7.83M
NOI $469,943 @ 7.0% cap · market cap 9.40%
Theoretical Best
Multifamily LT 5
$10.88M
$9.52M – $12.69M
NOI $761,589 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,104
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
Median Home Value
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully sprinklered, heated and cooled flex/industrial building offers three leased spaces in an I2 Medium Industrial zone.
Where is this flex space located?
The property is located at 105-135 W Erie Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 44,629 SF multi‑tenanted flex/industrial building built c. 1900 on a 1.59‑acre parcel; Fully sprinklered building with heated and cooled warehouse/flex space across four units; 100% leased to three tenants: Yale Electric (22,500 SF), Brightside Academy (11,869 SF), and Unico Auto Repair (10,260 SF)
