For Sale
$5,500,000

219 Lehigh AvePhiladelphia, PA 19134

High-yield, single-tenant industrial investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • 29,100 SF flex space in Philadelphia, PA, on a 46,149 SF lot.
  • 100% occupied by the Pennsylvania Department of Welfare under a NNN lease since 2005.
  • 7.63% cap rate, $419,901 NOI, $5,500,000 asking price ($189/SF).
  • Located in an Opportunity Zone across from Temple University.

Property Details for 219 Lehigh Ave

Property type
Industrial properties, Flex space
Square Feet
29,100 SF
Year Built/Renovated
1990/2005
Buildings
1
Stories
1
Units
1

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9863531
Longitude
-75.1019942
219 Lehigh Ave, Philadelphia, Pennsylvania

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219 Lehigh Ave
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