1901 Courtland StPhiladelphia, PA 19140

Property Details for 1901 Courtland St

Year built

1919

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.40 AC

Property size (Sq ft)

14,750 SF

Zone code

I2

Property type

Industrial properties

Property subtype

Flex space

APN

88-4-3423-80

APU

884342380

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $2,791,277

  Hospitality

  $2,556,795

  Educational

  $2,127,223

  Medical

  $2,200,382

  Retail

  $3,309,014

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.0243

Longitude

-75.1564

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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