Versatile Flex Space in
1115 MELROSE AVE, Chester, PA 19013
For Sale
$279,900
Adaptable commercial space suitable for retail, service, and light industrial.
Property Size3,589 SF
Price / SF$77.99
Days on Market229
Property Features for 1115 MELROSE AVE
General Information
Standard status
Size
Listing Agency:
Keller Williams Main Line
(610) 520-0100
Listed By:
Darryl K Miller · License PA AB044338A
(215) 432-0001
Source:
Palmerharned
Added: Mar 27
Changed: Oct 26
Last Checked: Nov 8 at 5:58AM
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
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Investment Insights
Based on property information with market context.
This highly visible flex commercial space offers versatility for various business uses, including retail, service, daycare, special-purpose operations, light industrial, and automotive-related services. It is ideally located near the corner of Morton Avenue and Melrose Avenue in Chester, Pennsylvania, benefiting from strong street presence, easy access, and consistent local traffic. The property was formerly occupied by Surplus Armé, a licensed firearms retailer and gunsmithing operation, and is thoughtfully laid out to support both customer-facing functions and back-of-house operations. The open front area works well as a retail showroom, reception area, classroom space, or client engagement zone. The rear portion offers flexible workspace suitable for light manufacturing, repair, customization, storage, or auto service uses where permitted. This adaptable configuration makes the property attractive to a diverse set of users, ranging from boutique retail and specialty services to daycare, trade contractors, non-profits, and special-purpose occupancies seeking a functional, affordable footprint in a visible corridor. The property has prominent signage visibility, a proven commercial address, and a layout that can be tailored to meet evolving operational needs. The property contains 3589 square feet.
Key Highlights
- Highly visible flex commercial space with broad use potential for retail, service, daycare, light industrial, or automotive businesses.
- Ideally located near Morton and Melrose Avenues in Chester, PA, with strong street presence and easy access.
- Adaptable configuration suitable for retail showroom, reception, classroom, light manufacturing, repair, storage, or auto service.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,105
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,100
$502.1K
Cap Rate 7%
$358,643
$358.6K
Cap Rate 9%
$278,944
$278.9K
Market Conditions
NOI Build-Up for 3,589 SF
Gross rent
$40.9K $11.40/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$38.6K $10.76/SF
− OpEx
−$13.5K −$3.77/SF
NOI
$25.1K $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 Rate 5%
$502,100
Cap Rate 7%
$358,643
Cap Rate 9%
$278,944
Alternative Uses
Best Use
Flex RnD
$358.6K
$313.8K – $418.4K
NOI $25,105 @ 7.0% cap · market cap 8.97%
Second Best
Industrial
$311.0K
$272.1K – $362.8K
NOI $21,768 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,108 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 19013, PA
34,252
Population
15,664
Households
2.2
Avg Household Size
34
Median Age
13%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
6,116
Density / Sq Mi
$39,416
Median Household Income
$31,668
Median Earnings
$1,083
Median Rent
$85,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Delaware County
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- The Jamaican Pattie Shop — 801 Sproul St, Chester, PA 19013
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space suitable for retail, service, and light industrial.
Where is this flex space located?
The property is located at 1115 MELROSE AVE Chester, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Highly visible flex commercial space with broad use potential for retail, service, daycare, light industrial, or automotive businesses.; Ideally located near Morton and Melrose Avenues in Chester, PA, with strong street presence and easy access.; Adaptable configuration suitable for retail showroom, reception, classroom, light manufacturing, repair, storage, or auto service.
