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265-99 W Berks St - 272 W Norris St 3.01 Acres of Industrial Land in Philadelphia, PA 19122
Investment Highlights
- I-95 (Delaware Expressway) is the primary north-south artery extending along the East Coast. (3-4 minutes, 1 mile)
- I-76 (Schuylkill Expressway) is an east-west highway connecting Center City/Southwest Philadelphia with the northwestern suburbs.
- Running street to street and block to block, totaling over 3.2 acres
- I-676 (Vine Street Expressway) is a connector highway through Center City Philadelphia connecting I-76 with I-95 and the Ben Franklin Bridge.
- Berks train station proximity
- This parcel is located within the Qualified Opportunity Zone and the North American Street Overlay District
Executive Summary
Property Facts
1 Lot Available
Lot
| Lot Size | 3.01 AC |
| Lot Size | 3.01 AC |
Redevelopment Opportunity Available. 3,315 SF on 3.02 Acres in Philadelphia, PA
Description
Binswanger is pleased to offer this investment opportunity in the Lower North Philadelphia Submarket. The property consists of approximately 3,315 SF on 3.02 acres and is conveniently just 0.2 miles from SEPTA’s Berks Station, one mile from I-95 and North Broad Street, two miles from I-676, three miles from Center City Philadelphia, and within convenient reach of the Ben Franklin Bridge, Betsy Ross Bridge, I-76, the New Jersey Turnpike, and the Pennsylvania Turnpike. In the past year, rental rates among industrial properties in the Lower North Philly area have ranged from $11.10 to $20.22, with an overall market asking rent of $14.24/SF, and an average sale price of $95 per square foot. General cap rate ranges for 7.8 percent transactions will range from 7.5-8.0 percent. Continued public and private investment throughout Lower North Philadelphia, combined with the property’s strategic infill location between Fishtown, Northern Liberties, Temple University, and Center City, has accelerated redevelopment activity throughout the N. American Street corridor. Numerous recently completed and proposed mixed-use projects continue to transform the surrounding neighborhood, supporting long-term demand for residential, commercial, and mixed-use development opportunities.
