For Sale
$1,950,000

1901 Courtland StPhiladelphia, PA 19140

16,000 SF Warehouse, 8.03% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
113
This fully leased, 16,000-square-foot warehouse in Philadelphia, PA, presents a compelling investment opportunity. Boasting a strong 8.03% cap rate and 100% occupancy, the property generates a substantial net operating income (NOI) of $156,611. The asking price is $1,950,000, translating to $121.88 per square foot. The single-story building is divided into 22 tenant spaces, ranging from 400 to 1,000 square feet, each accessible via keyless entry. Recent renovations totaling approximately $80,000 have enhanced the property's value. A proprietary management software streamlines operations, reducing overhead costs. Tenants, a diverse mix of light industrial businesses, utilize short-term, four-week billing cycles, resulting in 13 billing periods annually. This efficient management system, combined with the high occupancy rate and strong NOI, makes this a highly attractive investment prospect in a prime Philadelphia location. The property is situated at 1901 W Courtland St, Philadelphia, PA 19140. The gross lease structure further simplifies management.

Highlights

  • Fully leased 16,000 SF warehouse in Philadelphia, PA.
  • 8.03% cap rate and 100% occupancy, generating $156,611 NOI.
  • Asking price: $1,950,000 ($121.88/SF).
  • Single-story building with 22 tenant spaces (400-1,000 SF each), keyless entry.
  • $80,000 in recent renovations and efficient management software.

Property Details for 1901 Courtland St

Property type
Warehouses, Industrial properties
Square Feet
16,000 SF
Stories
1

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.024098001671
Longitude
-75.156816316178
1901 Courtland St, Philadelphia, Pennsylvania

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1901 Courtland St
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