Vaulted-Ceiling Creative
For Sale
$1,500,000
1521 N 31ST STREET Unit 300, Philadelphia, PA 19121
Open-plan space with expansive windows, a private deck, exposed structural details, and secure attached garage parking.
Property Size7,000 SF
Price / SF$214.29
Days on Market394
Property Features for 1521 N 31ST STREET Unit 300
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
3
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Southwest Philadelphia
Taxes and HOA fees
Annual Taxes
$1.00
Building Details
Building Size
7,000 SF
Year Built
1925
Listing Agency:
KW Empower
Listed By:
Jim Onesti · License #RS224457L
(484) 429-6769
Source:
Patmckennarealtors
Added: Sep 26, 2025
Changed: Oct 21
Last Checked: Oct 23 at 2:29PM
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 KW Empower
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,000-square-foot creative space occupies Unit 300 within a larger building and was originally built in 1925. The interior combines an open plan with vaulted ceilings, expansive windows, exposed steel and wood beams, and hardwood flooring. A private deck extends the usable area, while a secured attached garage provides parking for three vehicles.
Barn-style doors are already installed to divide the interior into two private areas, supporting separation between work and personal spaces or other distinct uses. Existing improvements include a basketball court, theater, spa, and artist area, with additional space available for further customization. The property is part of a three-unit association.
Barn-style doors are already installed to divide the interior into two private areas, supporting separation between work and personal spaces or other distinct uses. Existing improvements include a basketball court, theater, spa, and artist area, with additional space available for further customization. The property is part of a three-unit association.
Key Highlights
- 7,000 SqFt creative space in Unit 300
- Vaulted ceilings, expansive windows, exposed steel and wood beams
- Private deck and 3‑car secured attached garage parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,117
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,842,340
$1.8M
Cap Rate 7%
$1,315,957
$1.3M
Cap Rate 9%
$1,023,522
$1.0M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$153.7K $21.96/SF
− Vacancy
−$30.9K −$4.41/SF
EGI
$122.8K $17.55/SF
− OpEx
−$30.7K −$4.39/SF
NOI
$92.1K $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%
$1,842,340
Cap Rate 7%
$1,315,957
Cap Rate 9%
$1,023,522
Alternative Uses
Best Use
Office B
$1.32M
$1.15M – $1.54M
NOI $92,117 @ 7.0% cap · market cap 6.14%
Second Best
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,160 @ 7.0% cap · market cap 5.54%
Theoretical Best
Multifamily LT 5
$1.71M
$1.49M – $1.99M
NOI $119,454 @ 7.0% cap · market cap 7.96%
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
940
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Creative space - Open-plan space with expansive windows, a private deck, exposed structural details, and secure attached garage parking.
Where is this creative space located?
The property is located at 1521 N 31ST STREET Unit 300 Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,000 SqFt creative space in Unit 300; Vaulted ceilings, expansive windows, exposed steel and wood beams; Private deck and 3‑car secured attached garage parking
