219 Lehigh Ave Philadelphia, PA 19134
- Office buildings
- 29,000 SF
- 1.06 lot acres
Current Use by Public Records
- Los tios food truck / Restaurant
- Philadelphia County Assistance Office: Liberty District / Local Government Office
Property Details for 219 Lehigh Ave
- Year built
- 1990
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.06 lot acres
- Property size
- 29,000 SF
- Zone code
- ICMX
- Property type
- Office buildings
- APN
- 88-3-3791-18
- APU
- 883379118
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Philadelphia
- State
- Pennsylvania
- Longitude
- -75.1279
- Latitude
- 39.9911
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
