Building Details

Buildings 1

Building Size 11,700 SF

Listing Agency: EveryHome Realtors Show Phone

Listed By: Danielle Mancini Show Phone

Source: Hostetterrealty

Added: Sep 1 Changed: Oct 8 Last Checked: Oct 16 at 9:05AM

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Investment Insights

Based on property information with market context.

This offering includes a 1.3-acre parcel improved with an 11,700-square-foot building. The property is identified for industrial, storage, manufacturing, wholesale, distribution, and material-storage applications, with redevelopment also noted as a possible direction. Specific uses should be confirmed with the City of Philadelphia.

The property is located at 3227–53 and 3255 N 11th St in Philadelphia, Pennsylvania 19140. It is near Temple University and the intersection of Broad and Allegheny Streets, placing the site within an established Philadelphia urban setting.

Key Highlights

• 1.3‑acre parcel in Philadelphia
• 11,700‑square‑foot building included
• Identified uses include industrial, storage, manufacturing, wholesale, and distribution

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$123,201

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,464,020 $2.5M

Cap Rate 7%

$1,760,014 $1.8M

Cap Rate 9%

$1,368,900 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,700 SF

Gross rent

$210.6K $18.00/SF

− Vacancy

−$21.1K −$1.80/SF

EGI

$189.5K $16.20/SF

− OpEx

−$66.3K −$5.67/SF

NOI

$123.2K $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 Rate 5%

$2,464,020

Cap Rate 7%

$1,760,014

Cap Rate 9%

$1,368,900

Alternative Uses

Best Use

Flex RnD

$1.76M

$1.54M – $2.05M (±1% cap)

NOI $123,201 @ 7.0% cap · market cap 5.60%

Second Best

Warehouse

$1.71M

$1.50M – $1.99M (±1% cap)

NOI $119,674 @ 7.0% cap · market cap 5.44%

Theoretical Best

Multifamily LT 5

$2.85M

$2.50M – $3.33M (±1% cap)

NOI $199,659 @ 7.0% cap · market cap 9.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Gym & Fitness Center HVAC Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,724

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 19140, PA

52,124

Population

23,104

Households

2.3

Avg Household Size

36

Median Age

9%

College-Educated

73%

High-School Grad

3.2 sq mi

ZIP Area

16,289

Density / Sq Mi

$33,149

Median Household Income

$31,508

Median Earnings

$1,085

Median Rent

$101,100

Median Home Value

Market

Vacancy Rate% for Industrial in Philadelphia, PA

4.3% 2019

2.3% 2020

1.6% 2021

2.3% 2022

8.4% 2023

9.1% 2024

11.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial-oriented improvements support storage, production, wholesale, and distribution functions.

Where is this flex space located?

The property is located at 3227--53 & 3255 N 11TH ST Philadelphia, PA.

What is the asking price?

The asking price for this property is $2,199,000.

What are key features of this property?

This property features: 1.3‑acre parcel in Philadelphia; 11,700‑square‑foot building included; Identified uses include industrial, storage, manufacturing, wholesale, and distribution