219 E Lehigh Ave Philadelphia, PA 19134

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.