1501 Unity StPhiladelphia, PA 19124

For Sale
$11,625,000

312,539 SF Value-Add Warehouse, Excellent Location

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 312,539-square-foot industrial property located at 1501 Unity Street, Philadelphia, PA 19124. The property, comprised of three buildings across four stories, offers a compelling value-add proposition. Currently configured as a distribution and storage warehouse, the building features nine loading docks, 13' to 16' ceiling heights, and seven heavy-load elevators. The property boasts significant power infrastructure (up to 16 MW) and a recently updated dry fire suppression system. Situated on 2.18 acres, the property includes ample off-street parking with expansion potential. Its strategic location, one mile from I-95 and one block from public transportation, ensures excellent accessibility to major transportation arteries and the surrounding metropolitan area. The I-2 zoning permits a wide range of uses, including manufacturing, distribution, research & development, wholesale, and storage. The property also includes three additional contiguous parcels totaling approximately 29,390 square feet, two of which feature existing retail structures with short-term leases. These parcels are zoned CMX-2, allowing for various commercial uses. The asking price for the entire portfolio is $11,625,000, representing a significant discount to replacement cost. The existing tenant's operations are also available for acquisition. This property presents a rare opportunity to acquire a substantial industrial asset in a high-demand market with significant upside potential.

Highlights

  • $11,625,000 asking price for a 312,539 SF Class C industrial property in Philadelphia, PA, offering a significantly lower price per square foot ($37.20) than comparable properties.
  • Excellent location one mile from I-95 and one block from public transportation, providing easy access to major highways and employment centers. On-site parking is available with expansion potential.
  • Substantial discount to replacement cost, estimated at $100-$120/SF for vertical construction and $170/SF all-inclusive. Includes existing amenities such as built-out office space and a baling machine.

Property Details for 1501 Unity St

Property type
Other warehouses, Other industrial properties
Square Feet
312,539 SF
Class
C
Year Built
1910
Buildings
3
Stories
4
Lot Size (sq. ft)
94,961 SF

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
40.0133757
Longitude
-75.0887376
1501 Unity St, Philadelphia, Pennsylvania

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1501 Unity St
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