Established Auto Repair Shop For
1622-28 W Passyunk Avenue Philadelphia, PA 19145
For Sale
Contact for pricing
Pending
Commercial property with auto shop, gym, and development potential.
Property Size8,000 SF
Days on Market722
Property Features for 1622-28 W Passyunk Avenue
General Information
Standard status
Pending
Size
8,000 SF
Property subtype
Special Purpose
Listing Agency:
Century 21 Advantage Gold
(215) 519-0899
Listed By:
Frank Jacovini · License #PA
Source:
Crexi
Added: Aug 7, 2024
Changed: Jul 10
Last Checked: Jul 24 at 6:45PM
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 Century 21 Advantage Gold
Investment Insights
Based on property information with market context.
This commercial property features an established auto repair and transmission shop that has been in operation since 1981. The facility is situated on a large lot with street-to-street access and includes two large bay doors. The sale encompasses the real estate, business, equipment, and goodwill. A gym, which has been a tenant for over 30 years, occupies the second floor, providing a source of rental income. The property consists of four parcels, presenting development potential for mixed-use, retail, or additional commercial space. The property size is 8000 square feet.
Key Highlights
- Established auto repair and transmission shop in business since 1981 with loyal customer base and consistent revenue.
- Includes real estate, business, equipment, and goodwill.
- Stable rental income from a long‑term gym tenant (over 30 years) on the second floor.
Financial Insights For Industrial
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 | $91.2k | $11.40 |
| − Vacancy | −$7.3k | −$0.91 |
| EGI | $83.9k | $10.49 |
| − OpEx | −$25.2k | −$3.15 |
| NOI | $58.7k | $7.34 |
8,000 SF · lease $11.40/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.51M
NOI $90,418 @ 7.0% cap · market cap 10.22%
Second Best
Industrial
$839.0K
$734.2K – $978.9K
NOI $58,733 @ 7.0% cap · market cap 6.64%
Theoretical Best
Multifamily LT 5
$1.95M
$1.71M – $2.28M
NOI $136,519 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Complete Car Needs — 2347 S 9th St, Philadelphia, PA 19148
- Franks Auto Service — 2129 S 8th St, Philadelphia, PA 19148
- Snyder Auto Service — Philadelphia, PA 19148
- CaroTech Automotive LLC — 2109 S 8th St, Philadelphia, PA 19148
- D & D Auto glass — 2422 S Beulah St, Philadelphia, PA 19148
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial property with auto shop, gym, and development potential.
Where is this auto shop located?
The property is located at 1622-28 W Passyunk Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Established auto repair and transmission shop in business since 1981 with loyal customer base and consistent revenue.; Includes real estate, business, equipment, and goodwill.; Stable rental income from a long‑term gym tenant (over 30 years) on the second floor.
