Medical Office Conversion
For Sale
$229,000
145 E Lehigh Avenue, Philadelphia, PA 19125
Currently configured as a medical office with a flexible multi-room layout and backyard access.
Property Size1,440 SF
Price / SF$159.03
Days on Market330
Property Features for 145 E Lehigh Avenue
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$1,310
Amenities
Laminated
Electric
Yes
Natural Gas
No
Assessor
Bathroom - Tub Shower
1
No Pool
Public
O30
15.00 x 67.00
0.02
Estimated
Stone
18700.00
Building Details
Building Size
1,440 SF
Year Built
1935
Stories
2
Listing Agency:
Compass Pennsylvania, LLC
(856) 222-0077
Listed By:
Gary Cook
Source:
Thetristaterealestategroup
Added: Oct 15, 2025
Changed: Sep 8
Last Checked: Sep 9 at 5:44AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This property is currently used as a medical office and offers a flexible, multi-room layout that could be reimagined for other uses. The first floor includes a bright reception area, a private office with a checkout window, two additional rooms, a powder room, and access to the backyard. The second floor features a full kitchen, a bath with a tub and shower, two additional rooms suitable for offices or bedrooms, and a hallway closet for storage.
The asset is located at 145 E Lehigh Avenue in Philadelphia, PA 19125.
Overall, the existing configuration spans two levels with multiple rooms, wet areas on the upper level, and outdoor access, supporting a range of reconfiguration possibilities for an end user.
The asset is located at 145 E Lehigh Avenue in Philadelphia, PA 19125.
Overall, the existing configuration spans two levels with multiple rooms, wet areas on the upper level, and outdoor access, supporting a range of reconfiguration possibilities for an end user.
Key Highlights
- Currently used as a medical office with a flexible multi‑room layout and conversion potential to residential use.
- Two floors with multiple rooms for bedrooms, office, den, or playroom configurations, plus a powder room on the first floor.
- Second floor includes a full kitchen, bathroom with tub and shower, and two additional rooms for bedrooms or an office.
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
$18,950
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
8.28%
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%
$379,000
$379.0K
Cap Rate 7%
$270,714
$270.7K
Cap Rate 9%
$210,556
$210.6K
Market Conditions
NOI Build-Up for 1,440 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
$31.6K $21.96/SF
− Vacancy
−$6.4K −$4.41/SF
EGI
$25.3K $17.55/SF
− OpEx
−$6.3K −$4.39/SF
NOI
$18.9K $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%
$379,000
Cap Rate 7%
$270,714
Cap Rate 9%
$210,556
Alternative Uses
Best Use
Office B
$270.7K
$236.9K – $315.8K
NOI $18,950 @ 7.0% cap · market cap 8.28%
Second Best
Healthcare Medical
$266.6K
$233.3K – $311.0K
NOI $18,662 @ 7.0% cap · market cap 8.15%
Theoretical Best
Multifamily LT 5
$351.0K
$307.2K – $409.6K
NOI $24,573 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,489
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Currently configured as a medical office with a flexible multi-room layout and backyard access.
Where is this medical office space located?
The property is located at 145 E Lehigh Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Currently used as a medical office with a flexible multi‑room layout and conversion potential to residential use.; Two floors with multiple rooms for bedrooms, office, den, or playroom configurations, plus a powder room on the first floor.; Second floor includes a full kitchen, bathroom with tub and shower, and two additional rooms for bedrooms or an office.
