21 Industrial Blvd, Unit 1A Paoli, PA 19301-1610

Property Details for 21 Industrial Blvd

Year built

1983

Lot size

0.22 lot acres

Property size

2,726 SF

Zone code

I

Property type

Office Properties & Spaces

APN

5401 000209A0

APU

5401000209A0

Description

This exceptional two-story medical office building, totaling 21,755 rentable square feet, presents a compelling investment opportunity. Located at 21 Industrial Blvd, Paoli, PA 19301, this Class B property sits on a 2-acre lot and boasts a 72% occupancy rate, generating a substantial net operating income (NOI) of $234,542. The building, constructed in 1982, features a striking glass atrium entrance and comprises ten suites, currently housing seven diverse medical tenants, including dentists, surgeons, and physicians affiliated with prominent healthcare systems. Two vacant suites (3,166 sq ft and 2,184 sq ft) and a third available October 1, 2024 (1,269 sq ft) offer a significant owner-user opportunity, totaling up to 6,600 square feet. The asking price is $4,135,000 ($190.07 per square foot), with a 5.67% cap rate. The property benefits from ample parking (4.13 spaces per 1,000 sq ft), convenient access to Route 30 and SEPTA's Paoli Station, and a prime location near Paoli Hospital. Annual rent bumps are $0.50 or 4.5%, whichever is greater. The permitted zoning is I - Restricted Industrial. The selling principals are offering five-year leasebacks at a market rent of $25 per square foot, plus janitorial and separately metered utilities, to be negotiated prior to closing. This presents a unique opportunity to acquire a stabilized medical office building with significant upside potential in a highly desirable Main Line location.

Location Insight

City

Paoli

County

Chester

State

Pennsylvania

Longitude

-75.5012

Latitude

40.0455

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments