Elevator-Served Professional Office
For Sale
$255,000
815 GREENWOOD Avenue, Jenkintown, PA 19046
Commercial Sale, JENKINTOWN, PA
Property Size1,469 SF
Price / SF$173.59
Days on Market40
Property Features for 815 GREENWOOD Avenue
General Information
Property type
Other
Property subtype
Office
Parking
6
Parking features
Parking Lot
Elementary school
JENKINTOWN
Elementary school district
JENKINTOWN
Middle school district
JENKINTOWN
High school district
JENKINTOWN
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
7516
Utilities
Cooling system
Central Air
Amenities
assigned parking
visitor parking
common areas
Building Details
Year built
1930
Building materials
Masonry
Listing Agency:
RE/MAX Centre Realtors · RE/MAX International
(215) 343-8200
Listed By:
John T Pignatelli · License #RS295840
(267) 767-8677
Added: Jul 27
Changed: Aug 19
Last Checked: Sep 4 at 8:06PM
MLS# PAMC2189074
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.
Unit A4 is a 1,469-square-foot office condominium within the Greenwood Professional Building, a masonry property constructed in 1930. The suite offers an efficient office layout for professional, executive, medical, legal, accounting, design, engineering, insurance, and consulting uses. Central air supports the workspace, while elevator service provides convenient building access.
The property is located at 815 Greenwood Avenue in Jenkintown, near Abington Hospital, regional rail service, major roadways, shopping, dining, and the Montgomery and Bucks County business corridor. Parking includes assigned spaces along with visitor parking in the on-site lot.
The condominium association handles exterior maintenance, landscaping, snow removal, building insurance, and common area maintenance. Unit A3, containing 2,250 square feet, is also offered separately, providing an additional ownership option within the same professional office building.
The property is located at 815 Greenwood Avenue in Jenkintown, near Abington Hospital, regional rail service, major roadways, shopping, dining, and the Montgomery and Bucks County business corridor. Parking includes assigned spaces along with visitor parking in the on-site lot.
The condominium association handles exterior maintenance, landscaping, snow removal, building insurance, and common area maintenance. Unit A3, containing 2,250 square feet, is also offered separately, providing an additional ownership option within the same professional office building.
Key Highlights
- 1,469‑square‑foot Unit A4 office condominium
- Elevator service and central air
- Assigned parking plus visitor parking
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
$23,095
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
9.06%
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%
$461,900
$461.9K
Cap Rate 7%
$329,929
$329.9K
Cap Rate 9%
$256,611
$256.6K
Market Conditions
NOI Build-Up for 1,469 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
$38.3K $26.04/SF
− Vacancy
−$7.5K −$5.08/SF
EGI
$30.8K $20.96/SF
− OpEx
−$7.7K −$5.24/SF
NOI
$23.1K $15.72/SF
Area
Montgomery County, PA
Vacancy
19.50%
Lease Rate
$26.04 /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%
$461,900
Cap Rate 7%
$329,929
Cap Rate 9%
$256,611
Alternative Uses
Best Use
Office B
$329.9K
$288.7K – $384.9K
NOI $23,095 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$845.0K
$739.4K – $985.8K
NOI $59,149 @ 7.0% cap · market cap 23.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,972
Businesses Nearby
Explore this area
Business Placement
Demographics for 19046, PA
19,669
Population
8,418
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
2,936
Density / Sq Mi
$112,959
Median Household Income
$66,042
Median Earnings
$1,433
Median Rent
$446,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Versatile office condominium with central air, assigned parking, visitor spaces, and maintained common areas.
Where is this office units located?
The property is located at 815 GREENWOOD Avenue Jenkintown, PA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,469‑square‑foot Unit A4 office condominium; Elevator service and central air; Assigned parking plus visitor parking
