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    West Philadelphia Warehouse with Expansion Potential Title is generated by Realmo AI

    1515 N 53rd St, Philadelphia, PA

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    3,614 SF warehouse on 0.2 acres in West Philadelphia.

    Type:INDUSTRIAL
    Property size:
    3,614 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $117/SF
    Added:
    Dec 26, 2023
    Days on Market:
    902
    Last Refresh:
    May 20 at 8:14 pm

    Property Features for 1515 N 53rd St

    General Information

    Standard status
    Active
    Size
    3,614 SF
    Lot size
    0.12 Acres
    Property subtype
    INDUSTRIAL

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    Listing Contact
    Jason Ostach
    Jason Ostach

    Listing agent Jason Ostach

    Listing office Binswanger - Corporate

    Listing date Dec 26, 2023

    Source Moodyscre

    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

    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.
    • Located just off highly traveled Lansdowne Avenue.
    • Significant frontage: 113' on 53rd St and 46' on Lansdowne Ave.
    • Includes one drive‑in door.

    Overview

    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.

    Local 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 (±1% cap)
    NOI $36,966 @ 7.0% cap · market cap 8.70%
    Second Best
    Industrial
    $379.0K
    $331.7K – $442.2K (±1% cap)
    NOI $26,533 @ 7.0% cap · market cap 6.24%
    Theoretical Best
    Multifamily LT 5
    $881.0K
    $770.9K – $1.03M (±1% cap)
    NOI $61,673 @ 7.0% cap · market cap 14.51%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • PITT STOP — 5111 Warren St, Philadelphia, PA 19131
    • Store Space Self Storage — 5134 Lancaster Ave, Philadelphia, PA 19131
    • Keir Apartment Moving. Philadelphia, Pa — 1464 n 60th st, philadelphia, pa 19151
    • Five Three Group

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.2197
    Latitude
    39.9394

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    FAQs

    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.
    (856) 630-0774 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Ostach
    Jason Ostach
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