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2929-69 B St 70,000 SF Industrial Building Philadelphia, PA 19134 $4,875,000 ($69.64/SF) 7.53% Cap Rate
INVESTMENT HIGHLIGHTS
- lot is ideal for development while you still have income from garages all leases are attached
EXECUTIVE SUMMARY
The subject property consists of a class C industrial building that was built circa 1930 and contains approximately 70,000 SF. The building is current divided into 13 units/suites with 11 5,000 SF units and two (2) 7,500 SF units. A majority of the building features 16’ clear ceiling with other areas featuring higher ceilings. The building is accessed via 15 grade-level doors and in overall average condition. As of listing the building is 100% occupied by a total of 12 tenants with automotive repair and service business. The property is located on a 2.9186 acre site within the Kensington section of Philadelphia on the SEC of B Street and E Indiana Avenue. The property is located within the ICMX – Industrial Commercial Mixed-Use Zone of the City. This property includes 334 E Indiana Ave ID 884037701, 2961-69 B St ID 885974680, Expense: Taxes $39,800 Water 1300 $ Insurance $38,392 per owner
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$434,400
|
$6.21
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$434,400
|
$6.21
|
| Taxes |
$39,217
|
$0.56
|
| Operating Expenses |
$28,000
|
$0.40
|
| Total Expenses |
$67,217
|
$0.96
|
| Net Operating Income |
$367,183
|
$5.25
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $434,400 |
| Annual Per SF | $6.21 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $434,400 |
| Annual Per SF | $6.21 |
| Taxes | |
|---|---|
| Annual | $39,217 |
| Annual Per SF | $0.56 |
| Operating Expenses | |
|---|---|
| Annual | $28,000 |
| Annual Per SF | $0.40 |
| Total Expenses | |
|---|---|
| Annual | $67,217 |
| Annual Per SF | $0.96 |
| Net Operating Income | |
|---|---|
| Annual | $367,183 |
| Annual Per SF | $5.25 |
PROPERTY FACTS
AMENITIES
- Fenced Lot
UTILITIES
- Water - City
- Sewer - City
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Joseph Lopez
- Services
- 800 SF
- -
- Plus Utilities
- Dec 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Joseph Lopez | Services | 800 SF | - | Plus Utilities | Dec 2030 |
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 884037700 | Total Assessment | $2,065,400 (2026) |
| Land Assessment | $619,620 (2026) | Annual Taxes | $39,217 ($0.56/SF) |
| Improvements Assessment | $1,445,780 (2026) | Tax Year | 2024 Payable 2025 |
PROPERTY TAXES
Parcel Number
884037700
Land Assessment
$619,620 (2026)
Improvements Assessment
$1,445,780 (2026)
Total Assessment
$2,065,400 (2026)
Annual Taxes
$39,217 ($0.56/SF)
Tax Year
2024 Payable 2025
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2929-69 B St
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