Office Unit with Private
For Sale
$500,000
160 N 2ND STREET Unit 101, Philadelphia, PA 19106
A 2024-built commercial suite combines enclosed work areas with a larger shared space.
Property Size1,387 SF
Price / SF$360.49
Days on Market143
Property Features for 160 N 2ND STREET Unit 101
General Information
Standard status
Active
Size
1,387 SF
Property subtype
Office
Site & Location
Neighborhood
Center City
Additional Details
Condition
Turnkey
Property Use
Professional Office
Taxes and HOA fees
Annual Taxes
$3,436
Building Details
Building Size
1,387 SF
Year Built
2024
Listing Agency:
KW Empower
Listed By:
Jim Onesti · License #RS224457L
(484) 429-6769
Source:
Desantis-realestate
Added: Jun 10
Changed: Oct 27
Last Checked: Oct 27 at 3:36AM
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
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 1,387-square-foot office unit, completed in 2024, includes private offices and a substantial open area. The space is part of a newer-construction building with residential condominiums above. Its interior also features luxury finishes.
The property is at 160 N 2nd Street in Philadelphia’s Old City, near the Ben Franklin Bridge and a mix of residential, retail, dining, and cultural destinations.
The property is at 160 N 2nd Street in Philadelphia’s Old City, near the Ben Franklin Bridge and a mix of residential, retail, dining, and cultural destinations.
Key Highlights
- 1,387 square feet with private offices and a large open area
- Built in 2024
- Residential condominiums are located above the commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,252
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,040
$365.0K
Cap Rate 7%
$260,743
$260.7K
Cap Rate 9%
$202,800
$202.8K
Market Conditions
NOI Build-Up for 1,387 SF
Gross rent
$30.5K $21.96/SF
− Vacancy
−$6.1K −$4.41/SF
EGI
$24.3K $17.55/SF
− OpEx
−$6.1K −$4.39/SF
NOI
$18.3K $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 Rate 5%
$365,040
Cap Rate 7%
$260,743
Cap Rate 9%
$202,800
Alternative Uses
Best Use
Office B
$260.7K
$228.2K – $304.2K
NOI $18,252 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$338.1K
$295.9K – $394.5K
NOI $23,669 @ 7.0% cap · market cap 4.73%
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
6,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Office unit - A 2024-built commercial suite combines enclosed work areas with a larger shared space.
Where is this office unit located?
The property is located at 160 N 2ND STREET Unit 101 Philadelphia, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,387 square feet with private offices and a large open area; Built in 2024; Residential condominiums are located above the commercial space
