Building Details

Year Built 1900

Listing Agency: Coldwell Banker Hearthside Realtors

Listed By: Michael F Barrett · License #AB066990 Show Phone

Source: Kandorre

Added: Mar 27 Changed: Oct 3 Last Checked: Oct 7 at 4:08PM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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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 / Yr

$18,354

Cap Rate

7.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,080 $367.1K

Cap Rate 7%

$262,200 $262.2K

Cap Rate 9%

$203,933 $203.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,500 SF

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 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 (±1% cap)

NOI $26,325 @ 7.0% cap · market cap 10.53%

Second Best

Industrial

$262.2K

$229.4K – $305.9K (±1% cap)

NOI $18,354 @ 7.0% cap · market cap 7.34%

Theoretical Best

Multifamily LT 5

$609.5K

$533.3K – $711.0K (±1% cap)

NOI $42,662 @ 7.0% cap · market cap 17.06%

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

Property Analytics

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Current Use

Collins Lofts Apartment Complex VU World Smart ... Home Appliance Store

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Nursing Home Travel Agency (Bike/Boat/Book/etc) Store

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

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

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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Similar Off Market Nearby

• Fresh Food Services/Home — 2625 e tioga st, philadelphia, pa 19134
• Creative Foods and Catering Co. — 1940 E Allegheny Ave g01, Philadelphia, PA 19134
• A Touch Of Class Catering — 827 e westmoreland st, philadelphia, pa 19134
• The Pizza Wagon Catering Company ( Food Truck )

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.