Tioga Docks Flex/Garage
For Sale
$250,000
3475 Collins St Unit 102, Philadelphia, PA 19134
Flex/garage unit in the Port Richmond/Harrowgate neighborhood.
Property Size2,500 SF
Price / SF$100
Days on Market165
Property Features for 3475 Collins St Unit 102
General Information
Standard status
Active
Size
2,500 SF
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Hearthside Realtors
Listed By:
Michael F Barrett · License #AB066990
(215) 379-2002
Source:
Kandorre
Added: Mar 27
Changed: Sep 5
Last Checked: Sep 7 at 1:02PM
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 Coldwell Banker Hearthside Realtors
Investment Insights
Based on property information with market context.
Located in the Port Richmond/Harrowgate neighborhood, this flex/garage unit is situated within the Tioga Docks, an industrial condominium complex. The property is zoned I-2 Medium Industrial, which allows for a wide range of by-right uses. The location offers convenient access to transportation, being just 5 minutes from I-95 on ramp exit 25 and the Betsy Ross Bridge. This space is suitable for personal use or rental.
Key Highlights
- Zoned I‑2 Medium Industrial, offering a wide range of by‑right uses.
- Flex/garage unit suitable for personal use or rental income.
- Conveniently located 5 minutes from I‑95 (exit 25) and the Betsy Ross Bridge.
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
$18,354
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
7.34%
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%
$367,080
$367.1K
Cap Rate 7%
$262,200
$262.2K
Cap Rate 9%
$203,933
$203.9K
Market Conditions
NOI Build-Up for 2,500 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
$28.5K $11.40/SF
− Vacancy
−$2.3K −$0.91/SF
EGI
$26.2K $10.49/SF
− OpEx
−$7.9K −$3.15/SF
NOI
$18.4K $7.34/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
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%
$367,080
Cap Rate 7%
$262,200
Cap Rate 9%
$203,933
Alternative Uses
Best Use
Flex RnD
$376.1K
$329.1K – $438.8K
NOI $26,325 @ 7.0% cap · market cap 10.53%
Second Best
Industrial
$262.2K
$229.4K – $305.9K
NOI $18,354 @ 7.0% cap · market cap 7.34%
Theoretical Best
Multifamily LT 5
$609.5K
$533.3K – $711.0K
NOI $42,662 @ 7.0% cap · market cap 17.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,396
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 - Flex/garage unit in the Port Richmond/Harrowgate neighborhood.
Where is this flex space located?
The property is located at 3475 Collins St Unit 102 Philadelphia, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Zoned I‑2 Medium Industrial, offering a wide range of by‑right uses.; Flex/garage unit suitable for personal use or rental income.; Conveniently located 5 minutes from I‑95 (exit 25) and the Betsy Ross Bridge.
