Warehouse on 2.37
For Sale
Contact for pricing
10096 Sandmeyer Ln, Philadelphia, PA 19116
19,500 SF warehouse with outdoor storage and expansion potential.
Property Size19,500 SF
Lot Size2.37 Acres
Price / SF$256.41
Days on Market1317
Property Features for 10096 Sandmeyer Ln
General Information
Standard status
Active
Size
19,500 SF
Lot size
2.37 Acres
Property subtype
Industrial
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Lee & Associates | Eastern Pennsylvania - Central PA
Listed By:
Andrew Landolfi · License #PA
Source:
Crexi
Added: Jan 4, 2023
Changed: Aug 8
Last Checked: Aug 8 at 11:57AM
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 Lee & Associates | Eastern Pennsylvania - Central PA
Investment Insights
Based on property information with market context.
This property features a 19,500 square foot warehouse situated on 2.37 acres. The building includes approximately 5,000 square feet of office space. The warehouse has an 18-foot ceiling height and is equipped with 4 drive-in doors. Car parking is available for 7 vehicles, with additional street parking. The zoning is I2 – Medium Industrial, allowing for a range of industrial uses. The property offers outdoor storage and is expandable. Abundant labor is available in the area.
Key Highlights
- 19,500 SF warehouse on 2.37 acres provides substantial space.
- I2 – Medium Industrial zoning allows for a variety of uses.
- +/-5,000 SF of office space is already built‑in.
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
$199,457
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
3.99%
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%
$3,989,140
$4.0M
Cap Rate 7%
$2,849,386
$2.8M
Cap Rate 9%
$2,216,189
$2.2M
Market Conditions
NOI Build-Up for 19,500 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
$255.1K $13.08/SF
− Vacancy
−$20.4K −$1.05/SF
EGI
$234.7K $12.03/SF
− OpEx
−$35.2K −$1.81/SF
NOI
$199.5K $10.23/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
15.00%
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%
$3,989,140
Cap Rate 7%
$2,849,386
Cap Rate 9%
$2,216,189
Alternative Uses
Best Use
Warehouse
$2.85M
$2.49M – $3.32M
NOI $199,457 @ 7.0% cap · market cap 3.99%
Second Best
Industrial
$2.05M
$1.79M – $2.39M
NOI $143,161 @ 7.0% cap · market cap 2.86%
Theoretical Best
Multifamily LT 5
$4.75M
$4.16M – $5.55M
NOI $332,765 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
Median Home Value
Market
Vacancy Rate% for Industrial in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Franks Self Storage Facility — 3010 Franks Rd, Huntingdon Valley, PA 19006
- Pine Valley Storage — 225 Geiger Rd, Philadelphia, PA 19115
- Cannonball Storage — 33 Tomlinson Rd, Huntingdon Valley, PA 19006
Frequently Asked Questions
What type of property is this?
Warehouse - 19,500 SF warehouse with outdoor storage and expansion potential.
Where is this warehouse located?
The property is located at 10096 Sandmeyer Ln Philadelphia, PA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 19,500 SF warehouse on 2.37 acres provides substantial space.; I2 – Medium Industrial zoning allows for a variety of uses.; +/-5,000 SF of office space is already built‑in.
