Flex Space with Roll-Up
For Sale
$849,000
2009-11 E YORK ST, Philadelphia, PA 19125
Vacant garage property with office space, powered roll-up doors, and access between York and Boston Streets.
Property Size5,744 SF
Price / SF$147.81
Days on Market47
Property Features for 2009-11 E YORK ST
General Information
Standard status
Active
Size
5,744 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Land Use
commercial, residential
Amenities
powered roll-up doors
Building Details
Buildings
1
Stories
2
Listing Agency:
Flatiron Realty Group, LLC
(215) 868-5783
Listed By:
Daniel S McShane
(215) 868-5783
Source:
Graves
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 25 at 9:48AM
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 Flatiron Realty Group, LLC
Investment Insights
Based on property information with market context.
This flex-space property includes a one-story garage with a second-floor office component. New oversized powered roll-up doors are positioned at the rear of the building, providing access to Boston Street. The site will be delivered vacant and broom swept, allowing a new owner to evaluate commercial reuse or residential redevelopment.
The property occupies a 5,744-square-foot parcel at 2009-11 E York St in Philadelphia. Its street-to-street configuration connects York Street with Boston Street. The surrounding Fishtown area includes new condominium and apartment construction, restaurants, entertainment venues, and an El stop within two blocks.
The property occupies a 5,744-square-foot parcel at 2009-11 E York St in Philadelphia. Its street-to-street configuration connects York Street with Boston Street. The surrounding Fishtown area includes new condominium and apartment construction, restaurants, entertainment venues, and an El stop within two blocks.
Key Highlights
- 5,744‑square‑foot parcel at 2009‑11 E York St
- One‑story garage with second‑floor office space
- New oversized powered roll‑up doors at the building’s rear
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
$75,588
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
8.90%
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%
$1,511,760
$1.5M
Cap Rate 7%
$1,079,829
$1.1M
Cap Rate 9%
$839,867
$839.9K
Market Conditions
NOI Build-Up for 5,744 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
$126.1K $21.96/SF
− Vacancy
−$25.4K −$4.41/SF
EGI
$100.8K $17.55/SF
− OpEx
−$25.2K −$4.39/SF
NOI
$75.6K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /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%
$1,511,760
Cap Rate 7%
$1,079,829
Cap Rate 9%
$839,867
Alternative Uses
Best Use
Office B
$1.08M
$944.9K – $1.26M
NOI $75,588 @ 7.0% cap · market cap 8.90%
Second Best
Flex RnD
$864.1K
$756.1K – $1.01M
NOI $60,484 @ 7.0% cap · market cap 7.12%
Theoretical Best
Multifamily LT 5
$1.40M
$1.23M – $1.63M
NOI $98,021 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,642
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant garage property with office space, powered roll-up doors, and access between York and Boston Streets.
Where is this flex space located?
The property is located at 2009-11 E YORK ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 5,744‑square‑foot parcel at 2009‑11 E York St; One‑story garage with second‑floor office space; New oversized powered roll‑up doors at the building’s rear
