Flex Space with Three
New
For Sale
Contact for pricing
2038 E HAINES STREET, Philadelphia, PA 19138
Office space and on-site parking complement a garage-equipped layout for business operations.
Property Size4,500 SF
Price / SF$1.67
Days on Market4
Property Features for 2038 E HAINES STREET
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Commercial
Site & Location
Neighborhood
Northwest Philadelphia
Amenities
three large garages
office space
Building Details
Year Built
1965
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Maria Maria Quattrone Quattrone · License #RS281573
(215) 607-3535
Source:
Cummingsrealtors
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:34PM
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 LPT Realty, LLC
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Investment Insights
Based on property information with market context.
This 4,500-square-foot flex property combines three large garages with office space and on-site parking. Built in 1965, the layout brings vehicle or equipment space together with a dedicated area for office functions.
The property is located in Philadelphia’s West Oak Lane neighborhood at 2038 E Haines Street.
The property is located in Philadelphia’s West Oak Lane neighborhood at 2038 E Haines Street.
Key Highlights
- Three large garages
- 4,500 square feet of flex space
- Office space on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,037
Suggested Prices Based on Cap Rates
Cap Rate 5%
$660,740
$660.7K
Cap Rate 7%
$471,957
$472.0K
Cap Rate 9%
$367,078
$367.1K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$51.3K $11.40/SF
− Vacancy
−$4.1K −$0.91/SF
EGI
$47.2K $10.49/SF
− OpEx
−$14.2K −$3.15/SF
NOI
$33.0K $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%
$660,740
Cap Rate 7%
$471,957
Cap Rate 9%
$367,078
Alternative Uses
Best Use
Flex RnD
$676.9K
$592.3K – $789.8K
NOI $47,385 @ 7.0% cap · market cap 631.80%
Second Best
Industrial
$472.0K
$413.0K – $550.6K
NOI $33,037 @ 7.0% cap · market cap 440.49%
Theoretical Best
Multifamily LT 5
$1.10M
$959.9K – $1.28M
NOI $76,792 @ 7.0% cap · market cap 1,023.89%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 19138, PA
31,816
Population
13,836
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
89%
High-School Grad
1.8 sq mi
ZIP Area
17,676
Density / Sq Mi
$51,586
Median Household Income
$36,956
Median Earnings
$1,172
Median Rent
$167,300
Median Home Value
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Market
Vacancy Rate% for Industrial in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Flex space - Office space and on-site parking complement a garage-equipped layout for business operations.
Where is this flex space located?
The property is located at 2038 E HAINES STREET Philadelphia, PA.
What are key features of this property?
This property features: Three large garages; 4,500 square feet of flex space; Office space on site
