Tenant-Occupied Auto Mechanic
For Sale
Contact for pricing
2400 W Hunting Park Ave, Philadelphia, PA 19129
Tenant-occupied auto mechanic garage with redevelopment potential.
Property Size1,791 SF
Price / SF$181.46
Days on Market937
Property Features for 2400 W Hunting Park Ave
General Information
Standard status
Active
Size
1,791 SF
Class
C
Total Parking Spaces
25
Property subtype
Industrial, Land, Mixed Use, Special Purpose
Zoning
CMX2
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$42,000
Site & Location
Neighborhood
North Philadelphia
Building Details
Year Built
1940
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Keller Williams Philly
Listed By:
Rich Cassell · License #PA RS330536
(609) 217-1577
Source:
Crexi
Added: Apr 1, 2024
Changed: Oct 2
Last Checked: Oct 23 at 7:25AM
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 Keller Williams Philly
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents an opportunity to own a tenant-occupied auto mechanic garage with a 30-year tenancy. The property is located in a high-traffic area, directly across the street from a major development by a pharmaceutical company. Based on the lot size, the property has the potential to build 6 units by right. The property size is 1791 square feet and is located in Philadelphia, PA.
Key Highlights
- Opportunity to acquire a tenant‑occupied auto mechanic garage in a high‑traffic location.
- Potential for immediate rent reset with a new lease agreement.
- Development potential: Build 6 units by right.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,242
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,840
$404.8K
Cap Rate 7%
$289,171
$289.2K
Cap Rate 9%
$224,911
$224.9K
Market Conditions
NOI Build-Up for 1,791 SF
Gross rent
$32.2K $18.00/SF
− Vacancy
−$3.3K −$1.85/SF
EGI
$28.9K $16.15/SF
− OpEx
−$8.7K −$4.84/SF
NOI
$20.2K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,840
Cap Rate 7%
$289,171
Cap Rate 9%
$224,911
Alternative Uses
Best Use
Retail
$289.2K
$253.0K – $337.4K
NOI $20,242 @ 7.0% cap · market cap 6.23%
Second Best
Industrial
$187.8K
$164.4K – $219.2K
NOI $13,149 @ 7.0% cap · market cap 4.05%
Theoretical Best
Multifamily LT 5
$436.6K
$382.0K – $509.4K
NOI $30,563 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
284k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 34%
Dining 33%
Shops & Services 24%
Apparel 7%
ShopRite
Groceries
69,316 visits/mo
0.3 miles
Five Below
Shops & Services
28,323 visits/mo
0.3 miles
Wendy's
Dining
27,359 visits/mo
0.4 miles
Ross Dress for Less
Apparel
17,264 visits/mo
0.3 miles
Restaurant Depot
Groceries
16,525 visits/mo
0.4 miles
Demographics for 19129, PA
11,437
Population
6,228
Households
1.8
Avg Household Size
35
Median Age
60%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$77,225
Median Household Income
$58,576
Median Earnings
$1,471
Median Rent
$297,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
Similar Off Market Nearby
- smbrepairs — 2862 N 25th St, Philadelphia, PA 19132
- DMC Roadside Service and Auto Repair — 2930 N Croskey St, Philadelphia, PA 19132
- Auto Clinic — 2937 N 21st St, Philadelphia, PA 19132
- Fast Life Tire Spot — 2912 N 21st St, Philadelphia, PA 19132
- Boss Automotive — 2912 N 21st St, Philadelphia, PA 19132
Frequently Asked Questions
What type of property is this?
Auto shop - Tenant-occupied auto mechanic garage with redevelopment potential.
Where is this auto shop located?
The property is located at 2400 W Hunting Park Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Opportunity to acquire a tenant‑occupied auto mechanic garage in a high‑traffic location.; Potential for immediate rent reset with a new lease agreement.; Development potential: Build 6 units by right.
