1501 Unity St

1501 Unity Street is a 297,987 square foot industrial building located one mile from the North/South entrance to Interstate 95 (I-95) at Exit 26. The property is equipped with 14 drive-in doors and nine interior loading docks able to accommodate 53’ trailers. Situated on 1.48 acres, the building is four stories with an accessible basement, with each floor measuring roughly 60,000 square feet, with 18’ pillar spacing throughout. The property has seven heavy load elevators with current infrastructure providing up to 16 MW of electricity. Additionally, each floor has outside ventilation and a 100% dry fire suppression system, lowering operating expenses during the winter and making the building ideal for a climate controlled / refrigerated building conversion. The dry fire suppression system is newly updated with equipment replaced in the last two years.
1501 Unity Street is currently owner/used as a distribution and storage warehouse for Shipmate, a 40-year-old, family run fulfillment company. The building has been continuously maintained and inspected annually, including inspections of all seven freight elevators. The property is for sale or lease as Shipmate plans to relocate their business. 1501 Unity Street is zoned I-2 Medium Industrial, which allows for a wide variety of uses such as manufacturing, distribution, research & development, wholesale, and storage. At an offering price of $10,750,000, the industrial portion of the portfolio is priced at $36 per square foot, allowing a range of strategic possibilities to realize a large-scale value proposition. The property could be used as-is as a warehouse and distribution facility, converted to a climate control/refrigerated building, or redeveloped into a self-storage facility or apartment building.
The main land parcel at 1501 Unity is roughly 1.48 acres, making up an entire city block. The property offering also includes multiple contiguous parcels across Griscom Street that allow for a full truck court, giving the turning radius needed for trucks to utilize the nine interior loading docks. Two of the three additional land parcels have retail structures fronting Frankford Avenue, with retail leases in-place generating $10,650 per month ($127,800 annually). The additional parcels across Griscom Street are zoned CMX-2, allowing for business and services offices, retail (in-place), and surface parking. Parcel details below:
– 4410 Frankford Avenue – 22,860 sf parcel / 12,793 sf structure
– 4422 Frankford Avenue – 3,465 sf parcel / 1,759 sf structure
– 4429-33 Griscom Street – 4,065 sf land parcel
The additional CMX-2 zoned parcels are offered at a sale price of $60 per square foot on the retail structure footprint, equating to roughly $875,000. The total sale price for the portfolio is $11,625,000.