Class A Corner Office
For Sale
Contact for pricing
148 W STATE STREET, Kennett Square, PA 19348
Accessible office space above a multi-vendor market with on-site parking and downtown walkability.
Property Size32,130 SF
Price / SF$0.33
Days on Market52
Property Features for 148 W STATE STREET
General Information
Standard status
Active
Size
32,130 SF
Class
Class A
Property subtype
Commercial
Amenities
community and destination event space
Building Details
Year Built
1948
Listing Agency:
Pillar Real Estate Advisors
Listed By:
Eric Kuhn · License #RS296255
(484) 887-8202
Source:
Cummingsrealtors
Added: Sep 7
Changed: Oct 27
Last Checked: Oct 26 at 4:00PM
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 Pillar Real Estate Advisors
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Investment Insights
Based on property information with market context.
This 4,442 SF Class A office suite occupies a corner position in a building constructed in 1948, offering substantial daylight and views toward State Street. The suite provides full ADA access and supports signage opportunities along the street-facing elevation.
The property is situated above The Market at Liberty Place, a community and destination event venue featuring 8+ vendors. On-site parking is available, with additional nearby parking for overflow. Shops, restaurants, and nightlife are within walking distance in downtown Kennett Square.
The property is situated above The Market at Liberty Place, a community and destination event venue featuring 8+ vendors. On-site parking is available, with additional nearby parking for overflow. Shops, restaurants, and nightlife are within walking distance in downtown Kennett Square.
Key Highlights
- 4,442 SF Class A office suite
- Corner positioning delivers abundant natural light and State Street views
- Located above The Market at Liberty Place with 8+ vendors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$505,137
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,102,740
$10.1M
Cap Rate 7%
$7,216,243
$7.2M
Cap Rate 9%
$5,612,633
$5.6M
Market Conditions
NOI Build-Up for 32,130 SF
Gross rent
$836.7K $26.04/SF
− Vacancy
−$163.1K −$5.08/SF
EGI
$673.5K $20.96/SF
− OpEx
−$168.4K −$5.24/SF
NOI
$505.1K $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 Rate 5%
$10,102,740
Cap Rate 7%
$7,216,243
Cap Rate 9%
$5,612,633
Alternative Uses
Best Use
Office B
$7.22M
$6.31M – $8.42M
NOI $505,137 @ 7.0% cap · market cap 4,810.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.74M
$8.52M – $11.37M
NOI $681,905 @ 7.0% cap · market cap 6,494.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
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Business Placement
Demographics for 19348, PA
22,606
Population
9,222
Households
2.5
Avg Household Size
43
Median Age
57%
College-Educated
91%
High-School Grad
36.8 sq mi
ZIP Area
614
Density / Sq Mi
$118,367
Median Household Income
$55,391
Median Earnings
$1,588
Median Rent
$518,200
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Accessible office space above a multi-vendor market with on-site parking and downtown walkability.
Where is this office unit located?
The property is located at 148 W STATE STREET Kennett Square, PA.
What are key features of this property?
This property features: 4,442 SF Class A office suite; Corner positioning delivers abundant natural light and State Street views; Located above The Market at Liberty Place with 8+ vendors
