1 Progress Dr | Horsham, PA 19044
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1 Progress Dr
Horsham, PA 19044
Office Property For Sale
Executive Summary
The Investment Sales team of Avison Young presents qualified investors with the opportunity to purchase One Progress Drive in Horsham, PA. The property consists of a 79,204-square-foot office building situated on 11.63 acres, zoned I-1 – Industrial District, allowing for long-term redevelopment potential into a +/-100,000 square foot industrial building.
One Progress Drive is strategically located just off Horsham Road, only 1.8 miles from Route 611 and 2.8 miles from the Willow Grove Interchange of the Pennsylvania Turnpike. Ideally situated for long-term industrial use, this location provides easy access to the Philadelphia, New York, and Washington D.C. metro areas.
Originally built in 1988, One Progress Drive is currently 43.8% leased to two tenants. With last lease expiration coming in January 31, 2029, One Progress Drive is cash flow neutral through the end of the current tenants’ lease terms, generating approximately $1.8 million in gross income during this period.
One Progress Drive is strategically located just off Horsham Road, only 1.8 miles from Route 611 and 2.8 miles from the Willow Grove Interchange of the Pennsylvania Turnpike. Ideally situated for long-term industrial use, this location provides easy access to the Philadelphia, New York, and Washington D.C. metro areas.
Originally built in 1988, One Progress Drive is currently 43.8% leased to two tenants. With last lease expiration coming in January 31, 2029, One Progress Drive is cash flow neutral through the end of the current tenants’ lease terms, generating approximately $1.8 million in gross income during this period.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
79,204 SF
Building Class
B
Year Built
1988
Percent Leased
40%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
40,043 SF
Building FAR
0.16
Lot Size
11.63 AC
Zoning
I-1 - light industrial district
Parking
401 Spaces (5.06 Spaces per 1,000 SF Leased)
Amenities
- Energy Star Labeled
PROPERTY TAXES
| Parcel Number | 36-00-09953-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,986,500 |
PROPERTY TAXES
Parcel Number
36-00-09953-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,986,500
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