Freestanding Office
For Sale
Contact for pricing
1628 N 16TH STREET, Philadelphia, PA 19121
For sale office building in Philadelphia, offering space for professional tenants seeking a dedicated, street-addressed facility.
Property Size10,800 SF
Price / SF$0.00
Days on Market118
Property Features for 1628 N 16TH STREET
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Commercial
Site & Location
Neighborhood
Newbold
Building Details
Year Built
1999
Listing Agency:
Corporate Realty Partners & Co. Inc
Listed By:
G. Kevin Smith III · License #RM052304B
(215) 922-7810
Source:
Cummingsrealtors
Added: Jun 30
Changed: Oct 23
Last Checked: Oct 24 at 6:08PM
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 Corporate Realty Partners & Co. Inc
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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 for-sale commercial property is an office building suited for professional office uses. It presents a dedicated facility for organizations that want their operations in a dedicated building rather than within a shared retail setup.
Located at 1628 N 16TH STREET in Philadelphia, Pennsylvania, the property’s street address provides straightforward recognition for clients and visitors. Its urban setting supports everyday access for staff and business deliveries, with the address serving as an identifiable point of contact for scheduling and correspondence.
From a tenant or buyer perspective, the building format can fit a range of office users who prefer a straightforward, commercial office environment. Prospective tenants and investors should review the interior layout and any existing improvements during diligence to confirm fit for their specific workplace requirements and operating model. This offering is best evaluated by those looking for an office building in Philadelphia and who want to understand the space firsthand before moving forward.
Located at 1628 N 16TH STREET in Philadelphia, Pennsylvania, the property’s street address provides straightforward recognition for clients and visitors. Its urban setting supports everyday access for staff and business deliveries, with the address serving as an identifiable point of contact for scheduling and correspondence.
From a tenant or buyer perspective, the building format can fit a range of office users who prefer a straightforward, commercial office environment. Prospective tenants and investors should review the interior layout and any existing improvements during diligence to confirm fit for their specific workplace requirements and operating model. This offering is best evaluated by those looking for an office building in Philadelphia and who want to understand the space firsthand before moving forward.
Key Highlights
- Office building built in 1999
- Dedicated, street‑addressed facility for professional tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,123
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,842,460
$2.8M
Cap Rate 7%
$2,030,329
$2.0M
Cap Rate 9%
$1,579,144
$1.6M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$237.2K $21.96/SF
− Vacancy
−$47.7K −$4.41/SF
EGI
$189.5K $17.55/SF
− OpEx
−$47.4K −$4.39/SF
NOI
$142.1K $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%
$2,842,460
Cap Rate 7%
$2,030,329
Cap Rate 9%
$1,579,144
Alternative Uses
Best Use
Office B
$2.03M
$1.78M – $2.37M
NOI $142,123 @ 7.0% cap · market cap 710,615.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.63M
$2.30M – $3.07M
NOI $184,301 @ 7.0% cap · market cap 921,505.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,624
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Office building - For sale office building in Philadelphia, offering space for professional tenants seeking a dedicated, street-addressed facility.
Where is this office building located?
The property is located at 1628 N 16TH STREET Philadelphia, PA.
What are key features of this property?
This property features: Office building built in 1999; Dedicated, street‑addressed facility for professional tenants
