Three-Unit Flex Space with Rear
For Sale
$1,359,000
3317-41 GAUL ST, Philadelphia, PA 19134
Mixed commercial layout combines a mechanic garage, workshop, and vacant office suite.
Property Size8,900 SF
Price / SF$152.70
Days on Market8
Property Features for 3317-41 GAUL ST
General Information
Standard status
Active
Size
8,900 SF
Zoning
ICMX
Occupancy
55%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Build-Out
4,000 SF
Amenities
expansive rear lot
through-access to Miller Street
open-concept office space
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
JG Real Estate LLC
(215) 467-4100
Listed By:
Jared D Gruber · License #RB067488
(215) 467-4100
Source:
Careyrealtygroup
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 6:56AM
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.
This three-unit flex property combines automotive, workshop, and office components within one commercial asset. The approximately 4,000-square-foot garage is occupied by a mechanic business and connects to a rear lot extending to Miller Street. A separate workshop of approximately 900 square feet includes parking and is leased to a moving company. The third unit provides approximately 4,000 square feet of vacant open-plan office space for professional or creative use.
The property is zoned ICMX, supporting a mix of industrial and professional-service functions. Through-access to Miller Street supports movement across the site, while proximity to I-95, public transportation, Center City Philadelphia, and major thoroughfares adds regional connectivity. Located at 3317-41 Gaul Street in Philadelphia’s Port Richmond neighborhood, the property offers distinct spaces for occupancy, leasing, or business operations.
The property is zoned ICMX, supporting a mix of industrial and professional-service functions. Through-access to Miller Street supports movement across the site, while proximity to I-95, public transportation, Center City Philadelphia, and major thoroughfares adds regional connectivity. Located at 3317-41 Gaul Street in Philadelphia’s Port Richmond neighborhood, the property offers distinct spaces for occupancy, leasing, or business operations.
Key Highlights
- Three‑unit flex property at 3317‑41 GAUL ST, Philadelphia, PA 19134
- Unit 1 includes +/- 4000 sqft mechanic garage space and rear‑lot access to Miller Street
- Unit two provides approx 900 sqft workshop space with parking
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
$117,120
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
8.62%
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%
$2,342,400
$2.3M
Cap Rate 7%
$1,673,143
$1.7M
Cap Rate 9%
$1,301,333
$1.3M
Market Conditions
NOI Build-Up for 8,900 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
$195.4K $21.96/SF
− Vacancy
−$39.3K −$4.41/SF
EGI
$156.2K $17.55/SF
− OpEx
−$39.0K −$4.39/SF
NOI
$117.1K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,342,400
Cap Rate 7%
$1,673,143
Cap Rate 9%
$1,301,333
Alternative Uses
Best Use
Office B
$1.67M
$1.46M – $1.95M
NOI $117,120 @ 7.0% cap · market cap 8.62%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,590 @ 7.0% cap · market cap 7.40%
Theoretical Best
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,878 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
55.1%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,103
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Mixed commercial layout combines a mechanic garage, workshop, and vacant office suite.
Where is this flex space located?
The property is located at 3317-41 GAUL ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,359,000.
What are key features of this property?
This property features: Three‑unit flex property at 3317‑41 GAUL ST, Philadelphia, PA 19134; Unit 1 includes +/- 4000 sqft mechanic garage space and rear‑lot access to Miller Street; Unit two provides approx 900 sqft workshop space with parking
