Manufacturing and Storage
For Sale
$1,750,000
834 W Third Street, Lansdale, PA 19446
Multi-tenant manufacturing and storage facility with drive-in loading and two outside storage yards.
Property Size15,375 SF
Days on Market48
Property Features for 834 W Third Street
General Information
Standard status
Active
Size
15,375 SF
Property subtype
Industrial
Building Details
Building Size
15,375 SF
Year Built
1945
Listed By:
Adam Lashner, SIOR
(215) 378-0251
Source:
Naiglobal
Added: Jul 22
Changed: Sep 6
Last Checked: Sep 7 at 7:33AM
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 Adam Lashner, SIOR
Investment Insights
Based on property information with market context.
This multi-tenant manufacturing and storage facility includes a two-story building and multiple shop and office spaces, totaling approximately 2,375+/- SF. The site also features two separate parking/storage lots, including a fenced 0.48-acre storage area with surface partially concrete and gravel, plus an additional smaller lot that is partially stone and grass. Loading is available via five drive-in doors at grade. Construction includes stucco over masonry block and a brick two-story structure with partial metal panel along a portion; the shop areas have suspended-unit heating, and the two-story building is heated and cooled with a natural-gas fired combination unit. Electrical includes multiple panels with both single-phase and 200-amp three-phase service, and there are three restrooms across the property.
Access is provided through multiple drive-in doors and ample outside parking/storage. The facility is currently fully occupied, with four tenants plus the owner; the owner’s masonry contracting business will vacate units and the two-story building upon sale, and one tenant is in the process of vacating.
Zoning allows nonconforming manufacturing, contracting and storage businesses, as well as a residential tenant in the two-story building. The shop includes approximately 680+/- SF with three offices, and the two-story building includes approximately 1,215+/- SF on the first floor and 1,160+/- SF on the second floor, which is currently being occupied as a residence. Ceiling heights vary by section, and column spacing varies across the shop areas. Two 1.5-ton hoists are optionally available, along with a mezzanine storage area in the shop.
Access is provided through multiple drive-in doors and ample outside parking/storage. The facility is currently fully occupied, with four tenants plus the owner; the owner’s masonry contracting business will vacate units and the two-story building upon sale, and one tenant is in the process of vacating.
Zoning allows nonconforming manufacturing, contracting and storage businesses, as well as a residential tenant in the two-story building. The shop includes approximately 680+/- SF with three offices, and the two-story building includes approximately 1,215+/- SF on the first floor and 1,160+/- SF on the second floor, which is currently being occupied as a residence. Ceiling heights vary by section, and column spacing varies across the shop areas. Two 1.5-ton hoists are optionally available, along with a mezzanine storage area in the shop.
Key Highlights
- Two‑story, two‑street building totaling 2,375+/- SF with office space and shop areas (1,215+/- SF first floor and 1,160+/- SF second floor)
- 1.41+/- acre property with two outside/parking/storage lots, including a fenced 0.48‑acre storage lot with concrete/gravel surface
- Loading includes five drive‑in doors at grade (12’x12’ and 12’x10’, plus 9.5’x12’, 11’2”x8’9”, and 8’x8’)
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
$112,877
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
6.45%
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%
$2,257,540
$2.3M
Cap Rate 7%
$1,612,529
$1.6M
Cap Rate 9%
$1,254,189
$1.3M
Market Conditions
NOI Build-Up for 15,375 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
$175.3K $11.40/SF
− Vacancy
−$14.0K −$0.91/SF
EGI
$161.3K $10.49/SF
− OpEx
−$48.4K −$3.15/SF
NOI
$112.9K $7.34/SF
Area
Montgomery County, PA
Vacancy
8.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,257,540
Cap Rate 7%
$1,612,529
Cap Rate 9%
$1,254,189
Alternative Uses
Best Use
Flex RnD
$2.52M
$2.20M – $2.94M
NOI $176,218 @ 7.0% cap · market cap 10.07%
Second Best
Industrial
$1.61M
$1.41M – $1.88M
NOI $112,877 @ 7.0% cap · market cap 6.45%
Theoretical Best
Specialty Retail
$8.84M
$7.74M – $10.32M
NOI $619,070 @ 7.0% cap · market cap 35.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,136
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19446, PA
58,930
Population
24,983
Households
2.4
Avg Household Size
44
Median Age
51%
College-Educated
93%
High-School Grad
22.6 sq mi
ZIP Area
2,608
Density / Sq Mi
$103,875
Median Household Income
$60,396
Median Earnings
$1,738
Median Rent
$415,400
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 - Multi-tenant manufacturing and storage facility with drive-in loading and two outside storage yards.
Where is this flex space located?
The property is located at 834 W Third Street Lansdale, PA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Two‑story, two‑street building totaling 2,375+/- SF with office space and shop areas (1,215+/- SF first floor and 1,160+/- SF second floor); 1.41+/- acre property with two outside/parking/storage lots, including a fenced 0.48‑acre storage lot with concrete/gravel surface; Loading includes five drive‑in doors at grade (12’x12’ and 12’x10’, plus 9.5’x12’, 11’2”x8’9”, and 8’x8’)
