Modern Creative Office
For Sale
$2,450,000
4640-46 UMBRIA Street, Philadelphia, PA 19127
Commercial Sale, PHILADELPHIA, PA
Property Size15,090 SF
Lot Size0.19 Acres
Price / SF$162.36
Days on Market317
Property Features for 4640-46 UMBRIA Street
General Information
Property type
Other
Property subtype
Office
Parking
46
Parking features
Parking Lot
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
33847
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2008
Building materials
Masonry
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Sam A Akif · License #RS331003
(215) 617-6142
Added: Oct 23, 2025
Changed: Aug 19
Last Checked: Sep 4 at 11:06AM
MLS# PAPH2551766
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This creative space at 4640-4646 Umbria Street is a masonry office property completed in 2008. The interior is arranged around loft-style work areas with open layouts, high ceilings, and abundant natural light. Central heating and central air conditioning serve the building, and a parking lot is included.
The property is in Philadelphia’s Manayunk district, a walkable commercial area near transit, shopping, dining, and the Schuylkill River Trail. The offering also includes a separate parcel at 149 Wright Street, identified in the property information as land, creating a combined office-and-land acquisition.
The property is in Philadelphia’s Manayunk district, a walkable commercial area near transit, shopping, dining, and the Schuylkill River Trail. The offering also includes a separate parcel at 149 Wright Street, identified in the property information as land, creating a combined office-and-land acquisition.
Key Highlights
- 15,090 SF office property built in 2008
- Loft‑style interiors with open layouts and high ceilings
- Natural light throughout the creative workspace
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$198,577
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,971,540
$4.0M
Cap Rate 7%
$2,836,814
$2.8M
Cap Rate 9%
$2,206,411
$2.2M
Market Conditions
NOI Build-Up for 15,090 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$331.4K $21.96/SF
− Vacancy
−$66.6K −$4.41/SF
EGI
$264.8K $17.55/SF
− OpEx
−$66.2K −$4.39/SF
NOI
$198.6K $13.16/SF
Area
Philadelphia, PA
Vacancy
20.10%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,971,540
Cap Rate 7%
$2,836,814
Cap Rate 9%
$2,206,411
Alternative Uses
Best Use
Office B
$2.84M
$2.48M – $3.31M
NOI $198,577 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.68M
$3.22M – $4.29M
NOI $257,509 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Explore this area
Business Placement
Demographics for 19127, PA
6,929
Population
3,496
Households
2
Avg Household Size
29
Median Age
77%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
11,548
Density / Sq Mi
$99,792
Median Household Income
$73,061
Median Earnings
$1,765
Median Rent
$298,900
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Loft-style workspace with open layouts, high ceilings, natural light, and contemporary construction.
Where is this creative space located?
The property is located at 4640-46 UMBRIA Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 15,090 SF office property built in 2008; Loft‑style interiors with open layouts and high ceilings; Natural light throughout the creative workspace
