Flex Warehouse Near Merck
For Sale
Contact for pricing
633 Jones Ave, Lansdale, PA 19446
Flex/warehouse space with office, bathroom, and climate-controlled storage.
Property Size7,000 SF
Price / SF$247.93
Days on Market899
Property Features for 633 Jones Ave
General Information
Standard status
Active
Size
7,000 SF
Class
C
Total Parking Spaces
24
Property subtype
Office, Industrial
Zoning
LI- Limited Industrial
Occupancy
100%
Lease Type
NNN
Net Operating Income
$104,000
Building Details
Year Built
2004
Year Renovated
2017
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Lieberman Earley & Company
Listed By:
David Partridge · License #PA
Source:
Crexi
Added: Mar 18, 2024
Changed: Aug 23
Last Checked: Aug 24 at 4:24PM
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 Lieberman Earley & Company
Investment Insights
Based on property information with market context.
This 7,000-square-foot flex/warehouse space is located adjacent to the Merck Pharmaceuticals campus. The open floor plan includes bathroom, shower, and locker rooms, with an office situated on the second level. The building has been approved by the PLCB for climate-controlled storage. The interior clear height is 20 feet.
Key Highlights
- Adjacent to Merck Pharmaceuticals Campus
- PLCB Approved for Climate Controlled Storage
- Benefit from 20 ft. Clear Height
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
$80,229
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
4.62%
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%
$1,604,580
$1.6M
Cap Rate 7%
$1,146,129
$1.1M
Cap Rate 9%
$891,433
$891.4K
Market Conditions
NOI Build-Up for 7,000 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
$132.7K $18.96/SF
− Vacancy
−$9.3K −$1.33/SF
EGI
$123.4K $17.63/SF
− OpEx
−$43.2K −$6.17/SF
NOI
$80.2K $11.46/SF
Area
Montgomery County, PA
Vacancy
7.00%
Lease Rate
$18.96 /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%
$1,604,580
Cap Rate 7%
$1,146,129
Cap Rate 9%
$891,433
Alternative Uses
Best Use
Flex RnD
$1.15M
$1.00M – $1.34M
NOI $80,229 @ 7.0% cap · market cap 4.62%
Second Best
Industrial
$734.2K
$642.4K – $856.5K
NOI $51,391 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$4.03M
$3.52M – $4.70M
NOI $281,853 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19446, PA
58,930
Population
24,983
Households
2.4
Avg Household Size
44
Median Age
51%
College-Educated
93%
High-School Grad
22.6 sq mi
ZIP Area
2,608
Density / Sq Mi
$103,875
Median Household Income
$60,396
Median Earnings
$1,738
Median Rent
$415,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Flex/warehouse space with office, bathroom, and climate-controlled storage.
Where is this flex space located?
The property is located at 633 Jones Ave Lansdale, PA.
What is the asking price?
The asking price for this property is $1,735,500.
What are key features of this property?
This property features: Adjacent to Merck Pharmaceuticals Campus; PLCB Approved for Climate Controlled Storage; Benefit from **20 ft. Clear Height**
