Philadelphia Investment
219 E Lehigh Ave Philadelphia, PA 19134
219 E Lehigh Ave, Philadelphia, PA, 19134
Contact for pricing
For Sale
Contact for pricing
Pending
Prime investment property in a rapidly redeveloping Philadelphia area.
Property Size29,100 SF
Days on Market1080
Property Features for 219 E Lehigh Ave
General Information
- Standard status
- Pending
- Size
- 29,100 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1990
Listing agency
KW Commercial
Listed by
Andi Pesacov · License #RS210170L
Source
Crexi
Added: Aug 8, 2023 Updated: Jul 6 at 7:40AM Checked: Jul 20 at 5:34AM
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 Commercial
Investment Insights
Based on property information with market context.
Located in Philadelphia at 219 E. Lehigh Avenue, this property presents an investment opportunity in a rapidly redeveloping area. Situated in a Federal Opportunity Zone, the site offers tax benefits, including the deferral, reduction, and elimination of capital gains taxes. The property is located in Kensington, a neighborhood known for its arts scene, bars, and brewery culture. The current tenant, a national governmental agency, has occupied the build-to-suit office building for 43 years. The tenant has ongoing government-standard 5-year option terms. The property generates a current net operating income of $419,901. The property size is 29100 square feet.
Key Highlights
- Stable, long‑term tenant: National governmental agency with 43‑year history in the build‑to‑suit office building.
- Significant tax benefits: Located in a Federal Opportunity Zone, offering deferral, reduction, and elimination of capital gains taxes.
- Strong Net Operating Income (NOI): Current NOI of $419,901, providing reliable income.
Local Financial Insights For Office B
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 | $639.0k | $21.96 |
| − Vacancy | −$128.4k | −$4.41 |
| EGI | $510.6k | $17.55 |
| − OpEx | −$127.6k | −$4.39 |
| NOI | $382.9k | $13.16 |
29,100 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.47M
$4.79M – $6.38M
NOI $382,942 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$7.09M
$6.21M – $8.28M
NOI $496,588 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Los tios food ...
Restaurant
Philadelphia County Assistance ...
Local Government Office
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Prime investment property in a rapidly redeveloping Philadelphia area.
Where is this office building located?
The property is located at 219 E Lehigh Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Stable, long‑term tenant: National governmental agency with 43‑year history in the build‑to‑suit office building.; Significant tax benefits: Located in a Federal Opportunity Zone, offering deferral, reduction, and elimination of capital gains taxes.; Strong Net Operating Income (NOI): Current NOI of $419,901, providing reliable income.
