Creative Office/Flex Warehouse
For Sale
Contact for pricing
2025 Washington Ave, Philadelphia, PA 19146
Creative office or flex warehouse space, renovated in 2012-2013.
Property Size21,646 SF
Price / SF$196.34
Days on Market728
Property Features for 2025 Washington Ave
General Information
Standard status
Active
Size
21,646 SF
Class
B
Property subtype
Office
Zoning
I-2
Occupancy
100%
Lease Type
NNN
Building Details
Year Renovated
2013
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Scott Realty Group LLC
(610) 637-1039
Listed By:
Scott Campanile · License #PA RM421081
Source:
Crexi
Added: Aug 15, 2024
Changed: Aug 8
Last Checked: Aug 11 at 6:50AM
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 Scott Realty Group LLC
Investment Insights
Based on property information with market context.
This property presents a user-buyer opportunity in a creative office area, suitable for contractors, engineers, and art studios. It can also serve as a flex warehouse or office location. The building was fully rebuilt and renovated in 2012-2013 and is equipped with a sprinkler system and an elevator. The property offers massive electrical service. An additional 12,200 square feet of warehouse space adjacent to this property is available for lease, potentially creating a total of 38,846 square feet.
Key Highlights
- Fully rebuilt and renovated in 2012‑2013
- Great creative office area suitable for contractors, engineers, art studios, or flex warehouse/office
- Massive electrical service
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
$284,851
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
6.70%
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%
$5,697,020
$5.7M
Cap Rate 7%
$4,069,300
$4.1M
Cap Rate 9%
$3,165,011
$3.2M
Market Conditions
NOI Build-Up for 21,646 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
$475.3K $21.96/SF
− Vacancy
−$95.5K −$4.41/SF
EGI
$379.8K $17.55/SF
− OpEx
−$95.0K −$4.39/SF
NOI
$284.9K $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%
$5,697,020
Cap Rate 7%
$4,069,300
Cap Rate 9%
$3,165,011
Alternative Uses
Best Use
Office B
$4.07M
$3.56M – $4.75M
NOI $284,851 @ 7.0% cap · market cap 6.70%
Second Best
Flex RnD
$3.26M
$2.85M – $3.80M
NOI $227,932 @ 7.0% cap · market cap 5.36%
Theoretical Best
Multifamily LT 5
$5.28M
$4.62M – $6.16M
NOI $369,387 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,619
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Creative office or flex warehouse space, renovated in 2012-2013.
Where is this creative space located?
The property is located at 2025 Washington Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Fully rebuilt and renovated in 2012‑2013; Great creative office area suitable for contractors, engineers, art studios, or flex warehouse/office; Massive electrical service
