Philadelphia Land
For Sale
$4,750,000
2408-46 Ellsworth Street, Philadelphia, PA 19146
Prime land in Philadelphia's evolving Grays Ferry neighborhood.
Property Size51,700 SF
Price / SF$91.88
Days on Market204
Property Features for 2408-46 Ellsworth Street
General Information
Standard status
Active
Size
51,700 SF
Property subtype
Multi-Family
Zoning
I2
Taxes and HOA fees
Annual Taxes
$23,138
Amenities
Natural Gas
No
Estimated
No Pool
Public
LB0
327x121
1.30
Other
398235.00
Building Details
Building Size
51,700 SF
Year Built
1930
Listing Agency:
Coldwell Banker Commercial
(856) 222-0077
Listed By:
Christopher Twardy · License #1540241
(609) 304-2314
Source:
Thetristaterealestategroup
Added: Mar 27
Changed: Oct 14
Last Checked: Oct 16 at 6:39AM
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 Coldwell Banker Commercial
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Investment Insights
Based on property information with market context.
This property offers a unique opportunity in the historic Grays Ferry neighborhood of South Philadelphia, an area known for its community character and industrial heritage. Situated along the Schuylkill River, Grays Ferry has undergone revitalization, blending new residential developments with traditional rowhome architecture. The location provides convenient access to Center City, University City, and major transportation routes, making it attractive to homeowners, investors, and developers. The property, totaling 51,700 square feet, is positioned within Philadelphia, a city that combines historical significance with modern urban living. Philadelphia's diverse economy is supported by finance, healthcare, education, technology, and manufacturing sectors. The city's universities, medical centers, and strategic location contribute to its economic growth and resilience. High-resolution aerial views are available, showcasing the site, surrounding landscape, and building context, providing a comprehensive perspective on the lot layout, building placement, and overall environment. This property is suitable for self-storage facilities, industrial properties, commercial land, retail properties, and other commercial real estate ventures.
Key Highlights
- Convenient access to Center City, University City, and major transportation routes.
- Located in Grays Ferry, a revitalizing South Philadelphia neighborhood with a strong community character.
- Steady revitalization with new residential developments while preserving traditional rowhome streetscape.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$390,852
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,817,040
$7.8M
Cap Rate 7%
$5,583,600
$5.6M
Cap Rate 9%
$4,342,800
$4.3M
Market Conditions
NOI Build-Up for 51,700 SF
Gross rent
$620.4K $12.00/SF
− Vacancy
−$62.0K −$1.20/SF
EGI
$558.4K $10.80/SF
− OpEx
−$167.5K −$3.24/SF
NOI
$390.9K $7.56/SF
Area
Philadelphia, PA
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,817,040
Cap Rate 7%
$5,583,600
Cap Rate 9%
$4,342,800
Alternative Uses
Best Use
Retail
$8.35M
$7.30M – $9.74M
NOI $584,324 @ 7.0% cap · market cap 12.30%
Second Best
Self Storage
$5.58M
$4.89M – $6.51M
NOI $390,852 @ 7.0% cap · market cap 8.23%
Theoretical Best
Multifamily LT 5
$12.60M
$11.03M – $14.70M
NOI $882,255 @ 7.0% cap · market cap 18.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,804
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Self storage facility - Prime land in Philadelphia's evolving Grays Ferry neighborhood.
Where is this self storage facility located?
The property is located at 2408-46 Ellsworth Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Convenient access to Center City, University City, and major transportation routes.; Located in Grays Ferry, a revitalizing South Philadelphia neighborhood with a strong community character.; Steady revitalization with new residential developments while preserving traditional rowhome streetscape.
