Two-Room Office
For Sale
Contact for pricing
1427 SPRUCE STREET #6-7, Philadelphia, PA 19102
Adjoining private rooms with a half-bath create a compact professional office layout.
Property Size180 SF
Price / SF$2.78
Days on Market50
Property Features for 1427 SPRUCE STREET #6-7
General Information
Standard status
Active
Size
180 SF
Property subtype
Commercial
Site & Location
Neighborhood
Center City
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
BHHS Fox & Roach-Center City Walnut
(215) 627-6005
Listed By:
Anthony Gioielli · License #RS316763
(609) 774-5434
Source:
Cummingsrealtors
Added: Sep 16
Changed: Nov 3
Last Checked: Nov 3 at 8:24AM
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 BHHS Fox & Roach-Center City Walnut
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office unit at 1427 Spruce Street #6-7 provides approximately 180 square feet in two adjoining rooms. The layout includes one 6 x 10 room, a second 10 x 10 room, and a small half-bath with a sink and commode. A dividing door separates the rooms, allowing for distinct work areas and added privacy.
The property is near Avenue of the Arts and within reach of restaurants, shopping, parking garages, and public transportation. Constructed in 1900, the space offers a compact office configuration in a central Philadelphia setting.
The property is near Avenue of the Arts and within reach of restaurants, shopping, parking garages, and public transportation. Constructed in 1900, the space offers a compact office configuration in a central Philadelphia setting.
Key Highlights
- Approximately 180 square feet of office space
- Two adjoining rooms measuring 6 x 10 and 10 x 10
- Small half‑bath with sink and commode
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,369
Suggested Prices Based on Cap Rates
Cap Rate 5%
$47,380
$47.4K
Cap Rate 7%
$33,843
$33.8K
Cap Rate 9%
$26,322
$26.3K
Market Conditions
NOI Build-Up for 180 SF
Gross rent
$4.0K $21.96/SF
− Vacancy
−$795 −$4.41/SF
EGI
$3.2K $17.55/SF
− OpEx
−$790 −$4.39/SF
NOI
$2.4K $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%
$47,380
Cap Rate 7%
$33,843
Cap Rate 9%
$26,322
Alternative Uses
Best Use
Office B
$33.8K
$29.6K – $39.5K
NOI $2,369 @ 7.0% cap · market cap 473.80%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$43.9K
$38.4K – $51.2K
NOI $3,072 @ 7.0% cap · market cap 614.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
25,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 19102, PA
7,568
Population
4,606
Households
1.6
Avg Household Size
32
Median Age
87%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
37,840
Density / Sq Mi
$114,844
Median Household Income
$79,552
Median Earnings
$2,249
Median Rent
$412,200
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Office unit - Adjoining private rooms with a half-bath create a compact professional office layout.
Where is this office unit located?
The property is located at 1427 SPRUCE STREET #6-7 Philadelphia, PA.
What are key features of this property?
This property features: Approximately 180 square feet of office space; Two adjoining rooms measuring 6 x 10 and 10 x 10; Small half‑bath with sink and commode
