Street-to-Street Industrial Flex
For Sale
$425,000
3110 Memphis St, Philadelphia, PA 19134
Industrial flex building with drive-through access and large overhead doors on both ends for flexible loading and layouts.
Property Size3,636 SF
Lot Size0.08 Acres
Price / SF$116.89
Days on Market68
Property Features for 3110 Memphis St
General Information
Standard status
Active
Size
3,636 SF
Lot size
0.08 Acres
Additional Details
Road Access
Yes
Drive-In Doors
2
Building Details
Year Built
1940
Listing Agency:
JG Real Estate LLC
Listed By:
Marie Collins · License #RS323515
(267) 266-3721
Source:
Kandorre
Added: Jul 2
Changed: Sep 2
Last Checked: Sep 7 at 11:50AM
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 JG Real Estate LLC
Investment Insights
Based on property information with market context.
Rare street-to-street industrial flex building offering warehouse/garage space with large overhead garage doors on both ends for convenient drive-through access. The property extends from Memphis Street to Agate Street and sits on a 36’ x 101’ lot. Overhead door sizes include 16' wide x 9'6" high on the Memphis side and 12'6" wide x 9'10" on the Agate side.
Inside, the current layout includes one private office, three bathrooms, a kitchenette, and a finished lounge/relaxation area with a full bathroom and shower. A non-structural partition wall divides the warehouse into two sections and can be removed or reconfigured to fit different operational needs.
The configuration supports a range of industrial and commercial uses, including contractors’ storage, fabrication, light manufacturing, makers/artists, automotive-related businesses, and warehousing or distribution.
Inside, the current layout includes one private office, three bathrooms, a kitchenette, and a finished lounge/relaxation area with a full bathroom and shower. A non-structural partition wall divides the warehouse into two sections and can be removed or reconfigured to fit different operational needs.
The configuration supports a range of industrial and commercial uses, including contractors’ storage, fabrication, light manufacturing, makers/artists, automotive-related businesses, and warehousing or distribution.
Key Highlights
- Approx. 3,636 SF industrial/flex building on a 36’ x 101’ lot in Port Richmond
- Street‑to‑street layout extends from Memphis Street to Agate Street with drive‑through loading
- Large overhead garage doors on both ends: Memphis 16' wide x 9'6" high; Agate 12'6" wide x 9'10" high
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
$38,287
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
9.01%
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%
$765,740
$765.7K
Cap Rate 7%
$546,957
$547.0K
Cap Rate 9%
$425,411
$425.4K
Market Conditions
NOI Build-Up for 3,636 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
$65.4K $18.00/SF
− Vacancy
−$6.5K −$1.80/SF
EGI
$58.9K $16.20/SF
− OpEx
−$20.6K −$5.67/SF
NOI
$38.3K $10.53/SF
Area
Philadelphia, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$765,740
Cap Rate 7%
$546,957
Cap Rate 9%
$425,411
Alternative Uses
Best Use
Flex RnD
$547.0K
$478.6K – $638.1K
NOI $38,287 @ 7.0% cap · market cap 9.01%
Second Best
Warehouse
$531.3K
$464.9K – $619.9K
NOI $37,191 @ 7.0% cap · market cap 8.75%
Theoretical Best
Multifamily LT 5
$886.4K
$775.6K – $1.03M
NOI $62,048 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,351
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building with drive-through access and large overhead doors on both ends for flexible loading and layouts.
Where is this flex space located?
The property is located at 3110 Memphis St Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approx. 3,636 SF industrial/flex building on a 36’ x 101’ lot in Port Richmond; Street‑to‑street layout extends from Memphis Street to Agate Street with drive‑through loading; Large overhead garage doors on both ends: Memphis 16' wide x 9'6" high; Agate 12'6" wide x 9'10" high
