Flex Space with 18-Foot
For Sale
$1,950,000
1065 Andrew Drive Units 2 & 4, West Chester, PA 19380
Adaptable commercial space offers industrial zoning, on-site parking, prominent signage, and access to Rt 202.
Property Size10,000 SF
Price / SF$195
Days on Market47
Property Features for 1065 Andrew Drive Units 2 & 4
General Information
Standard status
Active
Size
10,000 SF
Zoning
I-2-R
Additional Details
Cap Rate
8%
Highway Access
Yes
Clear Height
18 ft
Amenities
18' Ceilings
2 of 4 HVAC Systems New
Prominent Signage
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Pillar Real Estate Advisors
(610) 430-6255
Listed By:
Eric Kuhn · License #RS296255
Source:
Burkhart
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 25 at 4:13AM
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 Pillar Real Estate Advisors
Investment Insights
Based on property information with market context.
Located at 1065 Andrew Drive Units 2 & 4 in West Chester, this 10,000-square-foot flex property was built in 2005 and features 18-foot ceilings. The layout can be divided for separate occupancy, while four HVAC systems serve the building, including two that are new. I-2-R zoning supports the property’s flex and office configuration.
The site includes a large parking lot, prominent signage, and convenient access to Rt 202. Current occupancy includes 7,500 SF through 10-31-26 and 2,500 SF through 12-1-27, with an in-place 8% cap rate.
The site includes a large parking lot, prominent signage, and convenient access to Rt 202. Current occupancy includes 7,500 SF through 10-31-26 and 2,500 SF through 12-1-27, with an in-place 8% cap rate.
Key Highlights
- 10,000 SF flex property with 18‑foot ceilings
- I‑2‑R zoning with a flex and office configuration
- Easily divisible layout for separate occupancy
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
$157,217
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
8.06%
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%
$3,144,340
$3.1M
Cap Rate 7%
$2,245,957
$2.2M
Cap Rate 9%
$1,746,856
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$260.4K $26.04/SF
− Vacancy
−$50.8K −$5.08/SF
EGI
$209.6K $20.96/SF
− OpEx
−$52.4K −$5.24/SF
NOI
$157.2K $15.72/SF
Area
Chester County, PA
Vacancy
19.50%
Lease Rate
$26.04 /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%
$3,144,340
Cap Rate 7%
$2,245,957
Cap Rate 9%
$1,746,856
Alternative Uses
Best Use
Office B
$2.25M
$1.97M – $2.62M
NOI $157,217 @ 7.0% cap · market cap 8.06%
Second Best
Healthcare Medical
$2.21M
$1.94M – $2.58M
NOI $155,002 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,233 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 19380, PA
50,692
Population
21,490
Households
2.4
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,662
Density / Sq Mi
$122,876
Median Household Income
$69,599
Median Earnings
$1,820
Median Rent
$530,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- The Mobile Bar Trailer LLC — 1050 Airport Rd #1832, West Chester, PA 19380
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space offers industrial zoning, on-site parking, prominent signage, and access to Rt 202.
Where is this flex space located?
The property is located at 1065 Andrew Drive Units 2 & 4 West Chester, PA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10,000 SF flex property with 18‑foot ceilings; I‑2‑R zoning with a flex and office configuration; Easily divisible layout for separate occupancy
