Two-Building Flex Space
New
For Sale
Contact for pricing
455 Parkway Drive, Broomall, PA
Masonry construction and a six-unit layout characterize this leased flex property.
Property Size21,500 SF
Lot Size1.08 Acres
Price / SF$137.21
Days on Market5
Property Features for 455 Parkway Drive
General Information
Standard status
Active
Size
21,500 SF
Lot size
1.08 Acres
Property subtype
Industrial
Occupancy
100%
Net Operating Income
$141,591
Additional Details
Highway Access
Yes
Building Details
Buildings
2
Construction
masonry
Tenancy
Multi
Listing Agency:
Atlas Realty Advisors
Listed By:
Joseph Battaglia · License #PA
Source:
Crexi
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 18 at 3:17PM
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 Atlas Realty Advisors
Investment Insights
Based on property information with market context.
Located at 455 Parkway Drive in Broomall, this flex space property comprises two masonry buildings totaling 21,500 SF on 1.08 acres. The improvements are configured for flex and light-industrial use across six units, all of which are currently leased.
The property is situated near the I-476 Blue Route, providing proximity to a regional transportation corridor. Its two-building layout combines a substantial commercial footprint with an established multi-unit configuration.
The property is situated near the I-476 Blue Route, providing proximity to a regional transportation corridor. Its two-building layout combines a substantial commercial footprint with an established multi-unit configuration.
Key Highlights
- 21,500 SF across two masonry buildings
- 1.08‑acre flex and light‑industrial property
- Six units, all currently leased
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
$150,393
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
5.10%
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%
$3,007,860
$3.0M
Cap Rate 7%
$2,148,471
$2.1M
Cap Rate 9%
$1,671,033
$1.7M
Market Conditions
NOI Build-Up for 21,500 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
$245.1K $11.40/SF
− Vacancy
−$13.7K −$0.64/SF
EGI
$231.4K $10.76/SF
− OpEx
−$81.0K −$3.77/SF
NOI
$150.4K $7.00/SF
Area
Delaware County, PA
Vacancy
5.60%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
35.00%
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%
$3,007,860
Cap Rate 7%
$2,148,471
Cap Rate 9%
$1,671,033
Alternative Uses
Best Use
Flex RnD
$2.15M
$1.88M – $2.51M
NOI $150,393 @ 7.0% cap · market cap 5.10%
Second Best
Industrial
$1.86M
$1.63M – $2.17M
NOI $130,404 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$6.52M
$5.70M – $7.61M
NOI $456,301 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Masonry construction and a six-unit layout characterize this leased flex property.
Where is this flex space located?
The property is located at 455 Parkway Drive Broomall, PA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 21,500 SF across two masonry buildings; 1.08‑acre flex and light‑industrial property; Six units, all currently leased
