Two-Story Flex Studio
For Sale
Contact for pricing
Pending
3130-34 Belgrade St, Philadelphia, PA 19134
Two-story flex studio building with 10 leased artist studio/office suites and clear-span ground-floor space off I-95.
Property Size13,500 SF
Days on Market1268
Property Features for 3130-34 Belgrade St
General Information
Standard status
Pending
Size
13,500 SF
Property subtype
FLEX_R_AND_D
Listing Agency:
MPN Realty, Inc.
(267) 238-1728
Listed By:
Veronica Blum · License #RS290724
Source:
Moodyscre
Added: Feb 9, 2023
Changed: Jul 30
Last Checked: Jul 30 at 7:32PM
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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
This two-story flex studio building totals 13,500 SF and is designed for creative live/work setups. The ground floor includes two artist studio/storage units totaling 2,390 SF and 3,408 SF, with space that can be easily combined. The structure is clear span on the first floor, with no columns interrupting the space.
On the second floor, there are 10 fully leased professional artist studios/office spaces ranging from 300–500 SF, supported by a common break area. The shared space includes a brand new kitchenette, living space, and restrooms. Recent upgrades include renovations completed in 2017, with new systems, exposed brick walls, refurbished flooring, high ceilings, and many windows for natural light.
The property is located just off an I-95 exit, with easy drive-in and drive-through access to the building, supporting convenient loading and daily operations.
On the second floor, there are 10 fully leased professional artist studios/office spaces ranging from 300–500 SF, supported by a common break area. The shared space includes a brand new kitchenette, living space, and restrooms. Recent upgrades include renovations completed in 2017, with new systems, exposed brick walls, refurbished flooring, high ceilings, and many windows for natural light.
The property is located just off an I-95 exit, with easy drive-in and drive-through access to the building, supporting convenient loading and daily operations.
Key Highlights
- Total building size: 13,500 SF
- Ground floor clear span with no columns interrupting the space
- Two ground‑floor units: 2,390 SF and 3,408 SF; can be easily combined
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.9k | $11.40 |
| − Vacancy | −$12.3k | −$0.91 |
| EGI | $141.6k | $10.49 |
| − OpEx | −$42.5k | −$3.15 |
| NOI | $99.1k | $7.34 |
13,500 SF · lease $11.40/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$2.54M
$2.22M – $2.96M
NOI $177,654 @ 7.0% cap · market cap 14.04%
Second Best
Flex RnD
$2.03M
$1.78M – $2.37M
NOI $142,155 @ 7.0% cap · market cap 11.24%
Theoretical Best
Multifamily LT 5
$3.29M
$2.88M – $3.84M
NOI $230,376 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,009
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 Office in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex studio building with 10 leased artist studio/office suites and clear-span ground-floor space off I-95.
Where is this flex space located?
The property is located at 3130-34 Belgrade St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,265,000.
What are key features of this property?
This property features: Total building size: 13,500 SF; Ground floor clear span with no columns interrupting the space; Two ground‑floor units: 2,390 SF and 3,408 SF; can be easily combined
