Two-Tenant Flex Industrial
For Sale
$1,875,000
2670 Leisczs Bridge Rd, Leesport, PA 19533
Two-tenant configuration combines warehouse and office areas under NNN leases.
Property Size20,249 SF
Price / SF$92.60
Days on Market55
Property Features for 2670 Leisczs Bridge Rd
General Information
Standard status
Active
Size
20,249 SF
Property subtype
Warehouse
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Cap Rate
7.63%
Power
400 amps
Amenities
Two-tenant asset with triple-net leases in place, providing passive income and minimal landlord responsibilitie
Dual-tenant configuration reduces risk while offering flexibility for future rollover or repositioning
Immediate access to Route 61, Route 183, and Route 222 with connectivity to I-78, I-476, and the PA Turnpike
Located adjacent to Reading Regional Airport with access to major regional logistics hubs (Lehigh Valley, Harrisburg, Philadelphia)
Masonry and steel construction with a 60 mil PVC roof (2016 install; warranty through 2036) and separately metered utilities (200A / 400A)
Building Details
Building Size
20,249 SF
Year Built
2005
Construction
masonry and steel framing
Listing Agency:
Marcus & Millichap - Philadelphia
(215) 531-7033
Listed By:
Ari Nordlinger · License #License(s): PA: RS375094
(215) 531-7033
Source:
Marcusmillichap
Added: Jul 8
Changed: Aug 30
Last Checked: Aug 30 at 6:21PM
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 Marcus & Millichap - Philadelphia
Investment Insights
Based on property information with market context.
This 20,249-square-foot industrial condominium contains a two-tenant warehouse and office configuration within a masonry-and-steel building. The property was constructed in 2005 and includes separately metered 200A and 400A electric service. Its 60 mil PVC roof was installed in 2016 and carries a warranty through 2036. NNN lease structures are in place for both tenants.
The property is located in Leesport, Pennsylvania, with direct access to Route 61, Route 183, and U.S. Route 222. Regional connections extend to Interstate 78, Interstate 476, and the Pennsylvania Turnpike. Reading Regional Airport is adjacent, while Lehigh Valley, Harrisburg, and Philadelphia International Airports are also nearby. The asset is within the Reading MSA and Berks County, an area supported by manufacturing, logistics, and distribution activity.
The property is located in Leesport, Pennsylvania, with direct access to Route 61, Route 183, and U.S. Route 222. Regional connections extend to Interstate 78, Interstate 476, and the Pennsylvania Turnpike. Reading Regional Airport is adjacent, while Lehigh Valley, Harrisburg, and Philadelphia International Airports are also nearby. The asset is within the Reading MSA and Berks County, an area supported by manufacturing, logistics, and distribution activity.
Key Highlights
- 20,249‑square‑foot industrial condominium with warehouse and office areas
- Two tenants occupy the property under NNN lease structures
- Masonry‑and‑steel construction completed in 2005
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
$143,468
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
7.65%
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%
$2,869,360
$2.9M
Cap Rate 7%
$2,049,543
$2.0M
Cap Rate 9%
$1,594,089
$1.6M
Market Conditions
NOI Build-Up for 20,249 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
$178.8K $8.83/SF
− Vacancy
−$10.0K −$0.49/SF
EGI
$168.8K $8.34/SF
− OpEx
−$25.3K −$1.25/SF
NOI
$143.5K $7.09/SF
Area
Berks County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
15.00%
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%
$2,869,360
Cap Rate 7%
$2,049,543
Cap Rate 9%
$1,594,089
Alternative Uses
Best Use
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,468 @ 7.0% cap · market cap 7.65%
Second Best
Flex RnD
$2.02M
$1.77M – $2.36M
NOI $141,643 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$3.32M
$2.91M – $3.88M
NOI $232,685 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19533, PA
7,710
Population
3,217
Households
2.4
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
17.3 sq mi
ZIP Area
446
Density / Sq Mi
$94,038
Median Household Income
$56,108
Median Earnings
$1,027
Median Rent
$263,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-tenant configuration combines warehouse and office areas under NNN leases.
Where is this flex space located?
The property is located at 2670 Leisczs Bridge Rd Leesport, PA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: 20,249‑square‑foot industrial condominium with warehouse and office areas; Two tenants occupy the property under NNN lease structures; Masonry‑and‑steel construction completed in 2005
