North Philly Self-Storage Facility with 40
For Sale
$1,000,000
3428 N 18th St, Philadelphia, PA 19140
Operating self-storage asset with 40 units and full occupancy, plus preliminary plans for a four-story multifamily redevelopment.
Property Size8,910 SF
Lot Size0.42 Acres
Price / SF$112.23
Days on Market96
Property Features for 3428 N 18th St
General Information
Standard status
Active
Size
8,910 SF
Lot size
0.42 Acres
Property subtype
Land
Occupancy
100%
Financials
Gross Income
$67,860
Opportunity Zone
Yes
Additional Details
Self-Storage Units
40
Listing Agency:
Scope Commercial Real Estate Services, Inc.
(267) 252-0223
Listed By:
Joseph M. Loonstyn Jr.
(267) 252-0223
Source:
Exprealty
Added: Apr 27
Changed: Jul 31
Last Checked: Jul 31 at 2:06AM
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 Scope Commercial Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
3428 N 18th Street, “The Oasis,” is currently operating as North Philly Self-Storage and consists of 40 self-storage units totaling approximately 8,910 rentable square feet. The property is generating in-place rental income and is reported as fully occupied.
The site sits on a 0.42-acre parcel set back from the street on a quiet residential block in Philadelphia’s Nicetown–Tioga neighborhood. Preliminary architectural plans support redevelopment into a four-story, 43-unit multifamily building totaling approximately 35,761 gross square feet. The plans include 18 on-site parking spaces, 15 bicycle spaces, rooftop amenity areas, and common space, with a unit mix of studios, one-bedroom, and two-bedroom apartments.
A Phase I environmental report has been completed with no issues identified. The property is located within a Qualified Opportunity Zone (QOZ).
The site sits on a 0.42-acre parcel set back from the street on a quiet residential block in Philadelphia’s Nicetown–Tioga neighborhood. Preliminary architectural plans support redevelopment into a four-story, 43-unit multifamily building totaling approximately 35,761 gross square feet. The plans include 18 on-site parking spaces, 15 bicycle spaces, rooftop amenity areas, and common space, with a unit mix of studios, one-bedroom, and two-bedroom apartments.
A Phase I environmental report has been completed with no issues identified. The property is located within a Qualified Opportunity Zone (QOZ).
Key Highlights
- Currently operating North Philly Self‑Storage with 40 self‑storage units
- 8,910 rentable square feet on a 0.42‑acre parcel
- Full occupancy and in‑place rental income
Financial Insights For Warehouse
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 | $116.5k | $13.08 |
| − Vacancy | −$9.3k | −$1.05 |
| EGI | $107.2k | $12.03 |
| − OpEx | −$16.1k | −$1.81 |
| NOI | $91.1k | $10.23 |
8,910 SF · lease $13.08/SF/yr · vacancy 8.00% · expense 15.00%
Alternative Uses
Best Use
Apartment 5plus
$2.00M
$1.75M – $2.34M
NOI $140,150 @ 7.0% cap · market cap 14.02%
Second Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,136 @ 7.0% cap · market cap 9.11%
Theoretical Best
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $152,048 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,331
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Operating self-storage asset with 40 units and full occupancy, plus preliminary plans for a four-story multifamily redevelopment.
Where is this self storage facility located?
The property is located at 3428 N 18th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Currently operating North Philly Self‑Storage with 40 self‑storage units; 8,910 rentable square feet on a 0.42‑acre parcel; Full occupancy and in‑place rental income
