Listing Agency: Italiano Commercial Real Estate

Listed By: Edward Banes · License #PA RS322090

Source: Crexi

Added: Feb 4 Changed: Oct 11 Last Checked: Oct 12 at 6:19PM

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Investment Insights

Based on property information with market context.

The 24,000-square-foot flex space at 1501 Blueball Ave in Marcus Hook includes partially renovated office, flex, and R&D areas. The property is equipped with 13,200 volt HT power and is 80% air conditioned. Dock loading is in place, with drive-in capability identified as a potential addition.

A large parking lot and rear outdoor storage support the site’s commercial configuration. The property sits in a business park next to FEDEX, with immediate access to multiple I-95 exits. The location is also minutes from the airport, I-476, Rt. 322, New Jersey, and Delaware.

Key Highlights

• 24,000 square feet of partially renovated office, flex, and R&D space
• 13,200 volt HT power and 80% air conditioned
• Dock loading with drive‑in potential

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$167,881

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,357,620 $3.4M

Cap Rate 7%

$2,398,300 $2.4M

Cap Rate 9%

$1,865,344 $1.9M

Market Conditions

NOI Build-Up for 24,000 SF

Gross rent

$273.6K $11.40/SF

− Vacancy

−$15.3K −$0.64/SF

EGI

$258.3K $10.76/SF

− OpEx

−$90.4K −$3.77/SF

NOI

$167.9K $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%

$3,357,620

Cap Rate 7%

$2,398,300

Cap Rate 9%

$1,865,344

Alternative Uses

Best Use

Office B

$5.62M

$4.92M – $6.56M (±1% cap)

NOI $393,466 @ 7.0% cap · market cap 19.72%

Second Best

Flex RnD

$2.40M

$2.10M – $2.80M (±1% cap)

NOI $167,881 @ 7.0% cap · market cap 8.42%

Theoretical Best

Office A

$7.28M

$6.37M – $8.49M (±1% cap)

NOI $509,359 @ 7.0% cap · market cap 25.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Spa & Massage Center Law Firm Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

295

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 19061, PA

20,207

Population

8,381

Households

2.4

Avg Household Size

40

Median Age

21%

College-Educated

92%

High-School Grad

7.0 sq mi

ZIP Area

2,887

Density / Sq Mi

$77,249

Median Household Income

$46,055

Median Earnings

$1,215

Median Rent

$229,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Partially renovated commercial space offers high-voltage power, air conditioning, parking, and rear outdoor storage.

Where is this flex space located?

The property is located at 1501 Blueball Ave Marcus Hook, PA.

What is the asking price?

The asking price for this property is $1,995,000.

What are key features of this property?

This property features: 24,000 square feet of partially renovated office, flex, and R&D space; 13,200 volt HT power and 80% air conditioned; Dock loading with drive‑in potential