Second-Floor Office
For Sale
Contact for pricing
3311 Agate St, Philadelphia, PA 19134
Private second-floor office includes a full kitchen, three bathrooms, and an ADA-compliant layout with sprinkler system.
Property Size8,736 SF
Lot Size32.00 Acres
Price / SF$211.77
Days on Market1195
Property Features for 3311 Agate St
General Information
Standard status
Active
Size
8,736 SF
Lot size
32.00 Acres
Property subtype
OFFICE
Zoning
ICMX
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Sprinkler System
Yes
Amenities
full kitchen
Listing Agency:
Binswanger - Corporate
(215) 448-6000
Listed By:
Chris Pennington
(215) 448-6053
Source:
Moodyscre
Added: Jun 7, 2023
Changed: Sep 5
Last Checked: Sep 13 at 9:46AM
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 Binswanger - Corporate
Investment Insights
Based on property information with market context.
The property features private second-floor office space designed for functional day-to-day operations. The suite includes a full kitchen, three bathrooms, an ADA-compliant configuration, and is supported by a sprinkler system.
The offering includes an expandable parking lot with fenced, secured parking. It is located in the Port Richmond neighborhood of Philadelphia, with access to Center City Philadelphia, New Jersey, and surrounding Philadelphia suburbs via nearby Interstate 95.
This is an office-focused asset within the ICMX industrial commercial mixed-use designation for the City of Philadelphia.
The offering includes an expandable parking lot with fenced, secured parking. It is located in the Port Richmond neighborhood of Philadelphia, with access to Center City Philadelphia, New Jersey, and surrounding Philadelphia suburbs via nearby Interstate 95.
This is an office-focused asset within the ICMX industrial commercial mixed-use designation for the City of Philadelphia.
Key Highlights
- 8,736 SF on 32 acres in the Port Richmond neighborhood of Philadelphia
- Private second‑floor office with a full kitchen and 3 bathrooms
- ADA‑compliant layout with sprinkler system
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
$114,962
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
6.21%
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%
$2,299,240
$2.3M
Cap Rate 7%
$1,642,314
$1.6M
Cap Rate 9%
$1,277,356
$1.3M
Market Conditions
NOI Build-Up for 8,736 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
$191.8K $21.96/SF
− Vacancy
−$38.6K −$4.41/SF
EGI
$153.3K $17.55/SF
− OpEx
−$38.3K −$4.39/SF
NOI
$115.0K $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%
$2,299,240
Cap Rate 7%
$1,642,314
Cap Rate 9%
$1,277,356
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $114,962 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.13M
$1.86M – $2.48M
NOI $149,079 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,409
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
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 units - Private second-floor office includes a full kitchen, three bathrooms, and an ADA-compliant layout with sprinkler system.
Where is this office units located?
The property is located at 3311 Agate St Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 8,736 SF on 32 acres in the Port Richmond neighborhood of Philadelphia; Private second‑floor office with a full kitchen and 3 bathrooms; ADA‑compliant layout with sprinkler system
