West Philadelphia Warehouse with Expansion
For Sale
Contact for pricing
1515 N 53rd St, Philadelphia, PA
3,614 SF warehouse on 0.2 acres in West Philadelphia.
Property Size3,614 SF
Lot Size0.12 Acres
Price / SF$117.60
Days on Market947
Property Features for 1515 N 53rd St
General Information
Standard status
Active
Size
3,614 SF
Lot size
0.12 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Binswanger - Corporate
(856) 630-0774
Listed By:
Jason Ostach
(856) 630-0774
Source:
Moodyscre
Added: Dec 26, 2023
Changed: Jul 6
Last Checked: Jul 21 at 4:44AM
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 Binswanger - Corporate
Investment Insights
Based on property information with market context.
This 3,614 square foot warehouse is situated on 0.2 acres in the heart of West Philadelphia, just off highly traveled Lansdowne Avenue. The property has CMX2 zoning, designated as neighborhood commercial mixed-use by the City of Philadelphia. It features frontage of 113 feet on 53rd Street and 46 feet on Lansdowne Avenue. The warehouse includes one drive-in door. An additional lot is available, offering potential for expansion, parking, or outdoor material storage at 5208-10 Lansdowne Avenue. Estimated taxes for 2023 are $1,766.
Key Highlights
- Large 3,614 sf property on .2 acres in West Philadelphia.
- CMX2 zoning allows for neighborhood commercial mixed use.
- Additional lot provides potential for expansion, parking, or outdoor storage.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.3k | $13.08 |
| − Vacancy | −$3.8k | −$1.05 |
| EGI | $43.5k | $12.03 |
| − OpEx | −$6.5k | −$1.81 |
| NOI | $37.0k | $10.23 |
3,614 SF · lease $13.08/SF/yr · vacancy 8.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$528.1K
$462.1K – $616.1K
NOI $36,966 @ 7.0% cap · market cap 8.70%
Second Best
Industrial
$379.0K
$331.7K – $442.2K
NOI $26,533 @ 7.0% cap · market cap 6.24%
Theoretical Best
Multifamily LT 5
$881.0K
$770.9K – $1.03M
NOI $61,673 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,162
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CubeSmart Self Storage — 2231 S 62nd St, Philadelphia, PA 19142
- Extra Space Storage — 5601 Paschall Ave, Philadelphia, PA 19143, United States
- All About Towing Storage Yard — 886 S 52nd St, Philadelphia, PA 19143
- Self-Storage at U-Haul — 5744 Woodland Ave, Philadelphia, PA 19143
Frequently Asked Questions
What type of property is this?
Warehouse - 3,614 SF warehouse on 0.2 acres in West Philadelphia.
Where is this warehouse located?
The property is located at 1515 N 53rd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Large 3,614 sf property on .2 acres in West Philadelphia.; CMX2 zoning allows for neighborhood commercial mixed use.; Additional lot provides potential for expansion, parking, or outdoor storage.
