Philadelphia Industrial Building For
1901 W Courtland St Philadelphia, PA 19140
1901 W Courtland St, Philadelphia, PA, 19140
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For Sale
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16,000 SF industrial building with 22 tenant spaces.
Property Size16,000 SF
Price / SF$86.56
Days on Market788
Property Features for 1901 W Courtland St
General Information
- Standard status
- Active
- Size
- 16,000 SF
- Property subtype
- Industrial
Listing Agency
Delphi Property Group LLC
(215) 627-7300
Listed by
Jamie Weiner · License #RM422933
Source
Crexi
Added: May 21, 2024 Checked: Jul 17 at 6:16 am
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 Delphi Property Group LLC
Investment Insights
Based on property information with market context.
This 16,000 square foot industrial building is located in Philadelphia, PA. The building has been partitioned into 22 tenant spaces ranging in size from 400 to 1,000 square feet. Partitions were created with wood wall and metal gates, and the building, as well as each unit, is accessible via keyless entry. Since its acquisition in 2022, approximately $80,000 has been invested in renovations to improve the property. The building is fully leased, and the ownership has developed proprietary management software that allows prospective tenants to view vacant units and sign agreements without meeting a representative of the ownership onsite. Tenants sign electronic documents similar to typical self-storage contracts and can terminate their agreements at any time. Billing is every four weeks instead of monthly, therefore there are 13 billing periods instead of 12. Tenants are comprised of a mix of light industrial businesses including car detailing, car wrapping, tire recycling, tool storage, and cabinet makers.
Key Highlights
- Fully leased industrial building with 22 tenant spaces.
- Approximately 16,000 square feet of building space on a 17,460 square foot property.
- Keyless entry to the building and individual units.
Local 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 | $182.4k | $11.40 |
| − Vacancy | −$14.6k | −$0.91 |
| EGI | $167.8k | $10.49 |
| − OpEx | −$50.3k | −$3.15 |
| NOI | $117.5k | $7.34 |
16,000 SF · lease $11.40/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$2.41M
$2.11M – $2.81M
NOI $168,480 @ 7.0% cap · market cap 12.16%
Second Best
Warehouse
$2.34M
$2.05M – $2.73M
NOI $163,657 @ 7.0% cap · market cap 11.82%
Theoretical Best
Multifamily LT 5
$3.90M
$3.41M – $4.55M
NOI $273,038 @ 7.0% cap · market cap 19.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Zora's — 5101 N Camac St, Philadelphia, PA 19141
- BTC Foods Inc — 5201 Old York Rd #200, Philadelphia, PA 19141
- Tipsy Cafe & Catering — 5227 Germantown Ave, Philadelphia, PA 19144
- Tay's Cafe — 4526 N 17th St, Philadelphia, PA 19140
FAQs
What type of property is this?
Flex space - 16,000 SF industrial building with 22 tenant spaces.
Where is this flex space located?
The property is located at 1901 W Courtland St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: Fully leased industrial building with 22 tenant spaces.; Approximately 16,000 square feet of building space on a 17,460 square foot property.; Keyless entry to the building and individual units.
