Historic Office Building with Roof
New
For Sale
$1,650,000
141 LEAGUE Street, Philadelphia, PA 19147
Commercial Sale - PHILADELPHIA, PA
Property Size10,206 SF
Lot Size0.08 Acres
Price / SF$161.67
Days on Market7
Property Features for 141 LEAGUE Street
General Information
Property type
Other
Property subtype
Retail
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
17259
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
private roof deck
oversized industrial windows
Building Details
Year built
1900
Building materials
Masonry
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Jon M O'Shea · License #ab069634
(267) 780-3419
Added: Aug 5
Last Checked: Aug 11 at 7:06PM
MLS# PAPH2656420
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.
Built in 1900, this three-story masonry office property contains 10,206 SF and combines oversized industrial-style windows with a private roof deck and passenger elevator. The building is fully leased to two established occupants, with a creative publisher using floors one and two and a salon on the third floor. Central air, heat-pump heating, and on-street parking serve the property.
The building occupies a side street in Queen Village, one block from Front Street, with I-95 approximately one-tenth of a mile away. Both leases run through 1/31/2028. The property includes 5,800 SF, or 57% of the building, that can support an owner-user strategy while the balance remains leased. In-place occupancy is 100%, with an approximately 6.8% yield identified in the source information.
The building occupies a side street in Queen Village, one block from Front Street, with I-95 approximately one-tenth of a mile away. Both leases run through 1/31/2028. The property includes 5,800 SF, or 57% of the building, that can support an owner-user strategy while the balance remains leased. In-place occupancy is 100%, with an approximately 6.8% yield identified in the source information.
Key Highlights
- 10,206 SF, three‑story office building constructed in 1900
- Private roof deck, passenger elevator, and oversized industrial‑style windows
- 100% leased to two established tenants through 1/31/2028
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
$134,306
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
8.14%
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%
$2,686,120
$2.7M
Cap Rate 7%
$1,918,657
$1.9M
Cap Rate 9%
$1,492,289
$1.5M
Market Conditions
NOI Build-Up for 10,206 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
$224.1K $21.96/SF
− Vacancy
−$45.0K −$4.41/SF
EGI
$179.1K $17.55/SF
− OpEx
−$44.8K −$4.39/SF
NOI
$134.3K $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%
$2,686,120
Cap Rate 7%
$1,918,657
Cap Rate 9%
$1,492,289
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,306 @ 7.0% cap · market cap 8.14%
Second Best
Retail
$1.65M
$1.44M – $1.92M
NOI $115,350 @ 7.0% cap · market cap 6.99%
Theoretical Best
Multifamily LT 5
$2.49M
$2.18M – $2.90M
NOI $174,164 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,943
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
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 - Three-story masonry property with a passenger elevator, industrial-style windows, and 100% leased occupancy.
Where is this office building located?
The property is located at 141 LEAGUE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 10,206 SF, three‑story office building constructed in 1900; Private roof deck, passenger elevator, and oversized industrial‑style windows; 100% leased to two established tenants through 1/31/2028
