Drive-Through
New
For Sale
$599,000
2181-83 E HAZZARD ST, Philadelphia, PA 19125
Enclosed industrial building with access from both ends and RSA-5 zoning for continued use or redevelopment.
Property Size2,882 SF
Lot Size0.13 Acres
Price / SF$207.84
Days on Market6
Property Features for 2181-83 E HAZZARD ST
General Information
Standard status
Active
Size
2,882 SF
Lot size
0.13 Acres
Zoning
RSA-5
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Asking Price
$699,000
Building Details
Buildings
1
Building Size
2,882 SF
Listing Agency:
Scope Commercial Real Estate Services, Inc.
(215) 302-4400
Listed By:
Joseph M. Loonstyn Jr. · License #RS351792
(267) 252-0223
Source:
Towncentermd
Added: Aug 30
Changed: Aug 31
Last Checked: Sep 2 at 4:01AM
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 Scope Commercial Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This enclosed warehouse property includes approximately 2,882 square feet of existing building area on a 5,800-square-foot lot assembled across four contiguous parcels. The industrial-style structure extends between E Hazzard Street and Huntingdon Street, with curb access at both ends that supports drive-through movement. The existing improvements can accommodate garage, storage, or outdoor yard functions for vehicles, equipment, or materials.
The property is located in Fishtown, an area identified in the source information as undergoing residential growth. RSA-5 zoning supports construction of approximately 5–6 single-family homes, subject to buyer verification, while the existing building provides an option for continued commercial use. The site offers a combination of enclosed improvements, two-sided access, and residential redevelopment potential.
The property is located in Fishtown, an area identified in the source information as undergoing residential growth. RSA-5 zoning supports construction of approximately 5–6 single-family homes, subject to buyer verification, while the existing building provides an option for continued commercial use. The site offers a combination of enclosed improvements, two-sided access, and residential redevelopment potential.
Key Highlights
- Approximately 2,882 SF of existing enclosed building area
- 5,800 SF lot spanning four contiguous parcels
- Curb access from both E Hazzard Street and Huntingdon Street
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
$29,479
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
4.92%
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%
$589,580
$589.6K
Cap Rate 7%
$421,129
$421.1K
Cap Rate 9%
$327,544
$327.5K
Market Conditions
NOI Build-Up for 2,882 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
$37.7K $13.08/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$34.7K $12.03/SF
− OpEx
−$5.2K −$1.81/SF
NOI
$29.5K $10.23/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
15.00%
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%
$589,580
Cap Rate 7%
$421,129
Cap Rate 9%
$327,544
Alternative Uses
Best Use
Warehouse
$421.1K
$368.5K – $491.3K
NOI $29,479 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$702.6K
$614.8K – $819.7K
NOI $49,181 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,444
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Enclosed industrial building with access from both ends and RSA-5 zoning for continued use or redevelopment.
Where is this warehouse located?
The property is located at 2181-83 E HAZZARD ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Approximately 2,882 SF of existing enclosed building area; 5,800 SF lot spanning four contiguous parcels; Curb access from both E Hazzard Street and Huntingdon Street
