Heated Basement Flex
1720 N 24TH STREET #C, Philadelphia, PA 19121
For Sale
Contact for pricing
A bi-level interior with lighting and a tall ceiling can accommodate storage or workshop activity.
Property Size400 SF
Price / SF$1.50
Days on Market8
Property Features for 1720 N 24TH STREET #C
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Utilities to Site
Amenities
heated
tall ceiling
lighting
outdoor space
Building Details
Year Built
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
William Taylor Hannum · License PA RS358666
(413) 320-6523
Source:
Cummingsrealtors
Added: Nov 5
Changed: Nov 10
Last Checked: Nov 12 at 8:21AM
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 KW Empower
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This heated flex space has a bi-level layout, a tall ceiling, and lighting. The approximately 400-square-foot interior is suited to storage, workshop activity, or other flexible use, with access to an outdoor area of roughly 200 square feet. Utilities are included. A bathroom may be installed at a tenant’s request before leasing.
Key Highlights
- About 400 sq ft of heated, bi‑level interior space
- Access to roughly 200 q ft of outdoor space
- Tall ceiling and lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,937
Suggested Prices Based on Cap Rates
Cap Rate 5%
$58,740
$58.7K
Cap Rate 7%
$41,957
$42.0K
Cap Rate 9%
$32,633
$32.6K
Market Conditions
NOI Build-Up for 400 SF
Gross rent
$4.6K $11.40/SF
− Vacancy
−$365 −$0.91/SF
EGI
$4.2K $10.49/SF
− OpEx
−$1.3K −$3.15/SF
NOI
$2.9K $7.34/SF
Area
Philadelphia, 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 Rate 5%
$58,740
Cap Rate 7%
$41,957
Cap Rate 9%
$32,633
Alternative Uses
Best Use
Flex RnD
$60.2K
$52.7K – $70.2K
NOI $4,212 @ 7.0% cap
Second Best
Industrial
$42.0K
$36.7K – $49.0K
NOI $2,937 @ 7.0% cap
Theoretical Best
Multifamily LT 5
$97.5K
$85.3K – $113.8K
NOI $6,826 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,751
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Average Price Trend$/SF for Flex space in Philadelphia, PA
Properties on Market for Flex space in Philadelphia
Vacancy Rate% for Industrial in Philadelphia, PA
Similar Off Market Nearby
- Philadelphia Catering Company — 2019 S 26th St, Philadelphia, PA 19145
- Let’s Get it Crackin — Morris St and, Point Breeze Ave, Philadelphia, PA 19145
- Chef's Table Catering — 2900 Grays Ferry Ave, Philadelphia, PA 19146
- momma's boy kitchen — 2400 Federal St, Philadelphia, PA 19146
Frequently Asked Questions
What type of property is this?
Flex space - A bi-level interior with lighting and a tall ceiling can accommodate storage or workshop activity.
Where is this flex space located?
The property is located at 1720 N 24TH STREET #C Philadelphia, PA.
What are key features of this property?
This property features: About 400 sq ft of heated, bi‑level interior space; Access to roughly 200 q ft of outdoor space; Tall ceiling and lighting
