Two-Unit Drive-In
4224-36 Penn Street Philadelphia, PA 19124
4224-36 Penn Street, Philadelphia, PA, 19124
$705,000
For Sale
$705,000
Two drive-in warehouse units total about 5,600 SF on a large attached lot for potential development.
Property Size5,800 SF
Lot Size0.37 Acres
Price / SF$121.55
Days on Market118
Property Features for 4224-36 Penn Street
General Information
- Standard status
- Active
- Size
- 5,800 SF
- Lot size
- 0.37 Acres
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1960
Listing agency
(267) 973-1175
Listed by
Iron Valley Real Estate Doylestown
(267) 973-1175
Source
Xome
Added: Mar 27 Updated: Jul 21 at 1:36AM Checked: Jul 21 at 3:09AM
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 Iron Valley Real Estate Doylestown
Investment Insights
Based on property information with market context.
4224–36 Penn Street offers two drive-in warehouse units with an estimated combined size of about 5,600 SF, currently being used as manufacturing space. The property is offered with an attached, sizable lot, providing room for business use today and additional development potential alongside the buildings.
The facility is located in the Frankford section of Philadelphia and is described as zoned ICMX. The warehouses are configured as separate drive-in units, giving an owner-operator the flexibility to use both spaces or lease them separately to generate additional income.
The site is listed with an estimated total lot area of about 15,912 SF, with the building and lot sold together as a single offering. Please contact the listing agent for additional information on the units and site.
The facility is located in the Frankford section of Philadelphia and is described as zoned ICMX. The warehouses are configured as separate drive-in units, giving an owner-operator the flexibility to use both spaces or lease them separately to generate additional income.
The site is listed with an estimated total lot area of about 15,912 SF, with the building and lot sold together as a single offering. Please contact the listing agent for additional information on the units and site.
Key Highlights
- Two drive‑in warehouse units totaling about 5,600 SF, currently used as manufacturing space
- Zoned ICMX (commercial), suitable for business use or leasing both units for additional income
- Property includes a large attached lot of about 15,912 SF with lot dimensions of 155.00 x 99.00
Local 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 | $66.1k | $11.40 |
| − Vacancy | −$5.3k | −$0.91 |
| EGI | $60.8k | $10.49 |
| − OpEx | −$9.1k | −$1.57 |
| NOI | $51.7k | $8.91 |
5,800 SF · lease $11.40/SF/yr · vacancy 8.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$738.7K
$646.3K – $861.8K
NOI $51,706 @ 7.0% cap · market cap 7.33%
Second Best
Industrial
$608.3K
$532.3K – $709.7K
NOI $42,581 @ 7.0% cap · market cap 6.04%
Theoretical Best
Specialty Retail
$3.34M
$2.92M – $3.89M
NOI $233,535 @ 7.0% cap · market cap 33.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Valentine Eatz LLC — 2367 Duncan St, Philadelphia, PA 19124
- La Llamita Vegana — 4500 Worth St Suite A303, Philadelphia, PA 19124
- Woodbury catering — 215, Philadelphia, PA 19124
FAQs
What type of property is this?
Flex space - Two drive-in warehouse units total about 5,600 SF on a large attached lot for potential development.
Where is this flex space located?
The property is located at 4224-36 Penn Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: Two drive‑in warehouse units totaling about 5,600 SF, currently used as manufacturing space; Zoned ICMX (commercial), suitable for business use or leasing both units for additional income; Property includes a large attached lot of about 15,912 SF with lot dimensions of 155.00 x 99.00
