Mixed-Use/Industrial Property in Opportunity
For Sale
Contact for pricing
2519 N Broad St, Philadelphia, PA
97,905 SF property with development potential in Philadelphia.
Property Size97,905 SF
Lot Size1.50 Acres
Price / SF$153.21
Days on Market1315
Property Features for 2519 N Broad St
General Information
Standard status
Active
Size
97,905 SF
Lot size
1.50 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Binswanger - Corporate
(215) 448-6000
Listed By:
Jason Ostach · License #1755115
(856) 630-0774
Source:
Moodyscre
Added: Feb 7, 2023
Changed: Sep 4
Last Checked: Sep 13 at 9:29AM
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 Binswanger - Corporate
Investment Insights
Based on property information with market context.
This property offers approximately 97,905 square feet of space on 3.18 acres. It features frontage on Broad Street (approximately 110 feet) and Cumberland Street (approximately 106 feet). The site is located within a qualified opportunity zone. Current approvals are in place for 118 residential units. Historically preserved tax credits are potentially available for a portion of the site. The zoning is CMX-3 / I-2, designated for commercial mixed-use and industrial purposes within the city of Philadelphia. Immediate access to the North Broad Street train station is available. Environmental reports and a survey are available to qualified prospects. The estimated taxes for 2023 are $40,069.00. Ownership would consider a sale of each building separately.
Key Highlights
- Approximately 97,905 sf on 3.18 acres available for sale.
- Prime exposure with direct frontage on Broad St and Cumberland St.
- Current approvals in place for 118 residential units.
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
$1,163,111
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
7.75%
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%
$23,262,220
$23.3M
Cap Rate 7%
$16,615,871
$16.6M
Cap Rate 9%
$12,923,456
$12.9M
Market Conditions
NOI Build-Up for 97,905 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
$2.11M $21.60/SF
− Vacancy
−$253.8K −$2.59/SF
EGI
$1.86M $19.01/SF
− OpEx
−$697.9K −$7.13/SF
NOI
$1.16M $11.88/SF
Area
Philadelphia, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$23,262,220
Cap Rate 7%
$16,615,871
Cap Rate 9%
$12,923,456
Alternative Uses
Best Use
Mixed Use
$16.62M
$14.54M – $19.39M
NOI $1,163,111 @ 7.0% cap · market cap 7.75%
Second Best
Industrial
$10.27M
$8.98M – $11.98M
NOI $718,779 @ 7.0% cap · market cap 4.79%
Theoretical Best
Multifamily LT 5
$23.87M
$20.88M – $27.85M
NOI $1,670,738 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,215
Businesses Nearby
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Business Placement
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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?
Industrial property - 97,905 SF property with development potential in Philadelphia.
Where is this industrial property located?
The property is located at 2519 N Broad St Philadelphia, PA.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Approximately 97,905 sf on 3.18 acres available for sale.; Prime exposure with direct frontage on Broad St and Cumberland St.; Current approvals in place for 118 residential units.
