Tenant-Occupied Auto Mechanic
2400 W Hunting Park Ave, Philadelphia, PA 19129
Tenant-occupied auto mechanic garage with redevelopment potential.
Type:Industrial, Land, Mixed Use, Special Purpose
Property size:
1,791 SFPrice / SF:
$181/SF- Added:
- Apr 1, 2024
- Days on Market:
- 790
- Last Refresh:
- May 12 at 9:41 pm
Property Features for 2400 W Hunting Park Ave
General Information
- Standard status
- Active
- Size
- 1,791 SF
- Property subtype
- Industrial, Land, Mixed Use, Special Purpose
Building Details
- Year Built
- 1940
Listing agent Rich Cassell License #PA RS330536
Listing office Keller Williams Philly
Listing date Apr 1, 2024
Source Crexi
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
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.
- Strategic location directly across from a major pharmaceutical development.
- Existing tenant with a 30‑year history.
- Seller willing to forgive back rents owed by the tenant.
Overview
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.
Local Financial Insights For Retail
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 | $32.2k | $18.00 |
| − Vacancy | −$3.3k | −$1.85 |
| EGI | $28.9k | $16.15 |
| − OpEx | −$8.7k | −$4.84 |
| NOI | $20.2k | $11.30 |
1,791 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Roy's Auto Services
Auto Repair Shop
Similar Places Nearby
- Boss Automotive — 2912 N 21st St, Philadelphia, PA 19132
- DMC Roadside Service and Auto Repair — 2930 N Croskey St, Philadelphia, PA 19132
- smbrepairs — 2862 N 25th St, Philadelphia, PA 19132
- Fast Life Tire Spot — 2912 N 21st St, Philadelphia, PA 19132
- Auto Clinic — 2937 N 21st St, Philadelphia, PA 19132
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.1681406
- Latitude
- 40.0090613
Nearby Similar for Sale
FAQs
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.
