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Mixed-Use/Industrial Property in Opportunity Zone

2519 N Broad St, Philadelphia, PA

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For Sale

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97,905 SF property with development potential in Philadelphia.

Type:INDUSTRIAL

Property size:

97,905 SF

Lot size:

1.50 Acres

Price / SF:

$153/SF

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.
Located within a qualified opportunity zone (QOZ).
Immediate access to North Broad St train station.
Historically preserved tax credits potentially available for portion of site.

We can help!

Listing Contact

Jason Ostach

For Sale

Contact for pricing

97,905 SF property with development potential in Philadelphia.

Type:INDUSTRIAL

Property size:

97,905 SF

Lot size:

1.50 Acres

Price / SF:

$153/SF

Added:: Feb 7, 2023
Days on Market:: 1224
Last Refresh:: May 20 at 8:12 pm

Property Features for 2519 N Broad St

General Information

Standard status: Active
Size: 97,905 SF
Lot size: 1.50 Acres
Property subtype: INDUSTRIAL

We can help!

Listing Contact

Jason Ostach

Listing agent Jason Ostach

Listing office Binswanger - Corporate

Listing date Feb 7, 2023

Source Moodyscre

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

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.
Located within a qualified opportunity zone (QOZ).
Immediate access to North Broad St train station.
Historically preserved tax credits potentially available for portion of site.

Overview

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.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$2.11M	$21.60
− Vacancy	−$253.8k	−$2.59
EGI	$1.86M	$19.01
− OpEx	−$697.9k	−$7.13
NOI	$1.16M	$11.88

97,905 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$16.62M

$14.54M – $19.39M (±1% cap)

NOI $1,163,111 @ 7.0% cap · market cap 7.75%

Second Best

Industrial

$10.27M

$8.98M – $11.98M (±1% cap)

NOI $718,779 @ 7.0% cap · market cap 4.79%

Theoretical Best

Multifamily LT 5

$23.87M

$20.88M – $27.85M (±1% cap)

NOI $1,670,738 @ 7.0% cap · market cap 11.14%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Palazzo Bruce S ... Dental Office

Suggested Use

Location Insight

Map
Local Demand

City: Philadelphia
County: Delaware
State: Pennsylvania
Longitude: -75.1705
Latitude: 39.9189

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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.