Three-Level Flex
2520 MORRIS STREET, Philadelphia, PA 19145
For Sale
Contact for pricing
I-2 zoning and access to I-76, I-95, SEPTA buses, and Snyder Station support a range of commercial uses.
Property Size45,000 SF
Price / SF$0.26
Days on Market51
Property Features for 2520 MORRIS STREET
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Mallin Panchelli Nadel Realty Inc
Listed By:
Veronica Gintel Blum · License PA RS290724
(215) 413-4900
Source:
Cummingsrealtors
Added: Sep 23
Changed: Nov 12
Last Checked: Nov 12 at 8:27AM
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 Mallin Panchelli Nadel Realty Inc
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Investment Insights
Based on property information with market context.
Three levels of finished office and flex space feature high ceilings and an open layout. Direct drive-in loading and separate street-side access provide additional functional features. The property was built in 1910 and is zoned I-2, which allows flexibility for a variety of commercial uses.
The property is in Philadelphia’s Grays Ferry neighborhood, with access to I-76, I-95, SEPTA bus routes, and Snyder Station on the Broad Street Line.
The property is in Philadelphia’s Grays Ferry neighborhood, with access to I-76, I-95, SEPTA bus routes, and Snyder Station on the Broad Street Line.
Key Highlights
- Three levels of finished office and flex space
- Direct drive‑in loading
- High ceilings and an open floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$330,372
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,607,440
$6.6M
Cap Rate 7%
$4,719,600
$4.7M
Cap Rate 9%
$3,670,800
$3.7M
Market Conditions
NOI Build-Up for 45,000 SF
Gross rent
$513.0K $11.40/SF
− Vacancy
−$41.0K −$0.91/SF
EGI
$472.0K $10.49/SF
− OpEx
−$141.6K −$3.15/SF
NOI
$330.4K $7.34/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,607,440
Cap Rate 7%
$4,719,600
Cap Rate 9%
$3,670,800
Alternative Uses
Best Use
Flex RnD
$6.77M
$5.92M – $7.90M
NOI $473,850 @ 7.0% cap
Second Best
Industrial
$4.72M
$4.13M – $5.51M
NOI $330,372 @ 7.0% cap
Theoretical Best
Multifamily LT 5
$10.97M
$9.60M – $12.80M
NOI $767,920 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Philadelphia, PA
Properties on Market for Flex space in Philadelphia
Vacancy Rate% for Industrial in Philadelphia, PA
Similar Off Market Nearby
- Philadelphia Catering Company — 2019 S 26th St, Philadelphia, PA 19145
- Let’s Get it Crackin — Morris St and, Point Breeze Ave, Philadelphia, PA 19145
- Chef's Table Catering — 2900 Grays Ferry Ave, Philadelphia, PA 19146
- momma's boy kitchen — 2400 Federal St, Philadelphia, PA 19146
Frequently Asked Questions
What type of property is this?
Flex space - I-2 zoning and access to I-76, I-95, SEPTA buses, and Snyder Station support a range of commercial uses.
Where is this flex space located?
The property is located at 2520 MORRIS STREET Philadelphia, PA.
What are key features of this property?
This property features: Three levels of finished office and flex space; Direct drive‑in loading; High ceilings and an open floor plan
