Medical Office Condominium
For Sale
$1,250,000
1244 Wrights Lane, 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 Market145
Property Features for 1244 Wrights Lane
General Information
Standard status
Active
Size
3,626 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$9,681
Amenities
Central Air
3
Concrete
Asphalt
L-1
Parking.
Lot.
0.00 x 0.00
Building Details
Year Built
2010
Listing Agency:
Benchmark Corporation
(610) 566-3738
Listed By:
Francis Boyle · License #RM040034A
(610) 566-3738
Source:
Xome
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 8 at 4:10AM
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
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 = 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
$57,007
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
4.56%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 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”
