Medical Office Condominium
For Sale
$1,250,000
1244 Wrights Lane 2-300, West Chester, PA 19380
Condo unit offered for sale subject to an existing 10-year lease, with showings limited to Fridays 1–5pm.
Property Size3,626 SF
Price / SF$344.73
Days on Market184
Property Features for 1244 Wrights Lane 2-300
General Information
Standard status
Active
Size
3,626 SF
Building Details
Year Built
2010
Listing Agency:
Benchmark Corporation
Listed By:
Francis J Boyle · License #RM040034A
(610) 566-3738
Source:
Premierehomegroup
Added: Apr 24
Changed: Oct 7
Last Checked: Oct 7 at 3:43PM
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 Benchmark Corporation
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Investment Insights
Based on property information with market context.
This for-sale medical office condominium unit is offered “where is, as is,” with no warranties or guarantees. The property is sold subject to the existing 10-year lease. Showings are restricted to Friday hours only, between 1:00 PM and 5:00 PM.
The property is located at 1244 Wrights Lane, Unit 2-300, in West Chester, Pennsylvania.
The available information describes the unit as a medical office space within a condominium setting and does not include additional details on buildout, amenities, or condition beyond the stated sale terms.
The property is located at 1244 Wrights Lane, Unit 2-300, in West Chester, Pennsylvania.
The available information describes the unit as a medical office space within a condominium setting and does not include additional details on buildout, amenities, or condition beyond the stated sale terms.
Key Highlights
- Condo unit for sale subject to an existing 10‑year lease
- Central air cooling
- Heating system listed as “3”
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,007
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,140,140
$1.1M
Cap Rate 7%
$814,386
$814.4K
Cap Rate 9%
$633,411
$633.4K
Market Conditions
NOI Build-Up for 3,626 SF
Gross rent
$94.4K $26.04/SF
− Vacancy
−$18.4K −$5.08/SF
EGI
$76.0K $20.96/SF
− OpEx
−$19.0K −$5.24/SF
NOI
$57.0K $15.72/SF
Area
Chester 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 Rate 5%
$1,140,140
Cap Rate 7%
$814,386
Cap Rate 9%
$633,411
Alternative Uses
Best Use
Office B
$814.4K
$712.6K – $950.1K
NOI $57,007 @ 7.0% cap · market cap 4.56%
Second Best
Healthcare Medical
$802.9K
$702.6K – $936.7K
NOI $56,204 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.10M
$962.0K – $1.28M
NOI $76,956 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 19380, PA
50,692
Population
21,490
Households
2.4
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
30.5 sq mi
ZIP Area
1,662
Density / Sq Mi
$122,876
Median Household Income
$69,599
Median Earnings
$1,820
Median Rent
$530,400
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Condo unit offered for sale subject to an existing 10-year lease, with showings limited to Fridays 1–5pm.
Where is this medical office space located?
The property is located at 1244 Wrights Lane 2-300 West Chester, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Condo unit for sale subject to an existing 10‑year lease; Central air cooling; Heating system listed as “3”
