Two-Unit Manufacturing
For Sale
$690,000
4224 4224-36 Penn St, Philadelphia, PA 19124
ICMX-zoned industrial facility with separate drive-in access and an adjoining land component.
Property Size5,800 SF
Lot Size0.37 Acres
Price / SF$118.97
Days on Market50
Property Features for 4224 4224-36 Penn St
General Information
Standard status
Active
Size
5,800 SF
Lot size
0.37 Acres
Zoning
ICMX
Warehouse & Industrial
Warehouse Space
5,600 SF
Drive-In Doors
2
Building Details
Year Built
1960
Listing Agency:
Iron Valley Real Estate Doylestown
Listed By:
Pawel Wojdalski · License #RS333804
(267) 973-1175
Source:
Kandorre
Added: Aug 19
Changed: Sep 14
Last Checked: Oct 6 at 12:06AM
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 Iron Valley Real Estate Doylestown
Investment Insights
Based on property information with market context.
Located at 4224-36 Penn Street in Philadelphia’s Frankford section, this industrial property includes two separate drive-in units currently used for manufacturing. The buildings are accompanied by an adjoining lot totaling an estimated 15,912 square feet, providing additional outdoor area alongside the existing improvements.
The property carries ICMX zoning and was built in 1960. Its configuration supports continued manufacturing use across both units, with the option to occupy the buildings together or operate them as separate commercial spaces. The site is positioned in Philadelphia, PA 19124, and includes both the warehouse improvements and the associated land parcel.
The property carries ICMX zoning and was built in 1960. Its configuration supports continued manufacturing use across both units, with the option to occupy the buildings together or operate them as separate commercial spaces. The site is positioned in Philadelphia, PA 19124, and includes both the warehouse improvements and the associated land parcel.
Key Highlights
- Two drive‑in units currently used for manufacturing
- ICMX zoning
- Adjoining lot totals an estimated 15,912 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,706
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,034,120
$1.0M
Cap Rate 7%
$738,657
$738.7K
Cap Rate 9%
$574,511
$574.5K
Market Conditions
NOI Build-Up for 5,800 SF
Gross rent
$66.1K $11.40/SF
− Vacancy
−$5.3K −$0.91/SF
EGI
$60.8K $10.49/SF
− OpEx
−$9.1K −$1.57/SF
NOI
$51.7K $8.91/SF
Area
ZIP 19124
Vacancy
8.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,034,120
Cap Rate 7%
$738,657
Cap Rate 9%
$574,511
Alternative Uses
Best Use
Warehouse
$738.7K
$646.3K – $861.8K
NOI $51,706 @ 7.0% cap · market cap 7.49%
Second Best
Industrial
$608.3K
$532.3K – $709.7K
NOI $42,581 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$3.34M
$2.92M – $3.89M
NOI $233,535 @ 7.0% cap · market cap 33.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,762
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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?
Manufacturing property - ICMX-zoned industrial facility with separate drive-in access and an adjoining land component.
Where is this manufacturing property located?
The property is located at 4224 4224-36 Penn St Philadelphia, PA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Two drive‑in units currently used for manufacturing; ICMX zoning; Adjoining lot totals an estimated 15,912 SF
