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    219 Lehigh Ave Philadelphia, PA 19134

    Sponsored
    For Sale
    $5,500,000

    High-yield, single-tenant industrial investment.

    Property size:
    29,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 29,100 square foot flex space located at 219 East Lehigh Avenue in Philadelphia, Pennsylvania, 19134. The property, built in 1990 and renovated in 2005, sits on a 46,149 square foot lot and features 26,117 square feet of net rentable space. Currently occupied at 100% occupancy by the Pennsylvania Department of Welfare since March 22, 2005, under a NNN lease, this single-tenant building offers a stable income stream. The property boasts a 7.63% cap rate and a net operating income (NOI) of $419,901. The asking price is $5,500,000, translating to a price per square foot of $189 and a price per unit of $5,500,000. The property includes 46 parking spaces and is zoned ICMX. This stabilized investment offers significant potential for appreciation and growth, given its location and the long-term lease with a government agency. The building is a one-story structure. The property's location offers advantages, including proximity to Temple University.

    Property Features for 219 Lehigh Ave

    General Information

    Property type
    Flex space
    Square Feet
    29,100 SF

    Building Details

    Year Built/Renovated
    1990/2005
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 29,100 SF flex space in Philadelphia, PA, on a 46,149 SF lot.
    • 100% occupied by the Pennsylvania Department of Welfare under a NNN lease since 2005.
    • 7.63% cap rate, $419,901 NOI, $5,500,000 asking price ($189/SF).
    • Located in an Opportunity Zone across from Temple University.
    Property Profile Location Intelligence

    Current Use by Public Records

    Los tios food ... Restaurant Philadelphia County Assistance ... Local Government Office

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1019942
    Latitude
    39.9863531

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    FAQs

    What type of property is this?
    Flex space - High-yield, single-tenant industrial investment.
    Where is this flex space located?
    The property is located at 219 Lehigh Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: 29,100 SF flex space in Philadelphia, PA, on a 46,149 SF lot.; 100% occupied by the Pennsylvania Department of Welfare under a NNN lease since 2005.; 7.63% cap rate, $419,901 NOI, $5,500,000 asking price ($189/SF).
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    Philadelphia, PA 19134
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    219 Lehigh Ave Philadelphia, PA 19134
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