Fully Occupied Office
For Sale
$14,927,262
1163 S Broad St, Philadelphia, PA 19147
The building is fully leased along Philadelphia’s Broad Street corridor.
Property Size56,628 SF
Price / SF$263.60
Days on Market8
Property Features for 1163 S Broad St
General Information
Standard status
Active
Size
56,628 SF
Property subtype
Shopping Neighborhood
Occupancy
100%
Amenities
100% OCCUPIED | STATE GOVERNMENT TENANT (A+ CREDIT) | COMMITMENT TO SITE (RECENT EXTENSION)
HIGH-VISIBILITY CORRIDOR | SOUTH BROAD STREET | ON-SITE PARKING
STRONG 8.6-YEAR WALT & NON-PROFIT TENANTS FITTING WITH COMMUNITY
Building Details
Building Size
56,628 SF
Year Built
1925
Listing Agency:
Marcus & Millichap - Philadelphia
Listed By:
Derrick Dougherty · License #License(s): PA: RS305854
(215) 531-7026
Source:
Marcusmillichap
Added: Oct 1
Changed: Oct 7
Last Checked: Oct 7 at 8:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Philadelphia
Investment Insights
Based on property information with market context.
This 56,628 office building was constructed in 1925 and is fully occupied. It is located on South Broad Street in Philadelphia.
Key Highlights
- 100% occupied office building
- Built in 1925
- Located on S Broad St in Philadelphia
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$745,198
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,903,960
$14.9M
Cap Rate 7%
$10,645,686
$10.6M
Cap Rate 9%
$8,279,978
$8.3M
Market Conditions
NOI Build-Up for 56,628 SF
Gross rent
$1.24M $21.96/SF
− Vacancy
−$250.0K −$4.41/SF
EGI
$993.6K $17.55/SF
− OpEx
−$248.4K −$4.39/SF
NOI
$745.2K $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 Rate 5%
$14,903,960
Cap Rate 7%
$10,645,686
Cap Rate 9%
$8,279,978
Alternative Uses
Best Use
Office B
$10.65M
$9.31M – $12.42M
NOI $745,198 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$13.81M
$12.08M – $16.11M
NOI $966,351 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,575
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - The building is fully leased along Philadelphia’s Broad Street corridor.
Where is this office building located?
The property is located at 1163 S Broad St Philadelphia, PA.
What is the asking price?
The asking price for this property is $14,927,262.
What are key features of this property?
This property features: 100% occupied office building; Built in 1925; Located on S Broad St in Philadelphia
