Professional Office
For Sale
$469,000
1923 GRANT AVENUE, Philadelphia, PA 19115
Versatile office layout with multiple private rooms and two restrooms.
Property Size1,344 SF
Price / SF$348.96
Days on Market78
Property Features for 1923 GRANT AVENUE
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1925
Listing Agency:
Global Hubs Realty Group, LLC
(215) 827-0035
Listed By:
Ivy Zou · License #RS355936
(215) 900-9386
Source:
Cummingsrealtors
Added: Jun 24
Changed: Sep 8
Last Checked: Sep 9 at 6:25AM
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 Global Hubs Realty Group, LLC
Investment Insights
Based on property information with market context.
This professional office building offers approximately 1,344 square feet of versatile indoor space configured with multiple private office rooms and two restrooms. The layout is designed to support a range of professional service uses where separated rooms and dedicated restroom facilities are important.
Located at 1923-25 Grant Ave in Northeast Philadelphia, the property is positioned for strong visibility and convenient access to major nearby routes, including Roosevelt Blvd (Route 1) and Bustleton Ave.
For an owner-user or investor, this is a straightforward office asset with a functional room configuration already in place, suitable for companies looking for an established professional layout.
Located at 1923-25 Grant Ave in Northeast Philadelphia, the property is positioned for strong visibility and convenient access to major nearby routes, including Roosevelt Blvd (Route 1) and Bustleton Ave.
For an owner-user or investor, this is a straightforward office asset with a functional room configuration already in place, suitable for companies looking for an established professional layout.
Key Highlights
- Professional office building built in 1925
- Approx. 1,344 SF versatile office space with multiple private office rooms
- Includes 2 restrooms
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
$17,686
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
3.77%
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%
$353,720
$353.7K
Cap Rate 7%
$252,657
$252.7K
Cap Rate 9%
$196,511
$196.5K
Market Conditions
NOI Build-Up for 1,344 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
$29.5K $21.96/SF
− Vacancy
−$5.9K −$4.41/SF
EGI
$23.6K $17.55/SF
− OpEx
−$5.9K −$4.39/SF
NOI
$17.7K $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%
$353,720
Cap Rate 7%
$252,657
Cap Rate 9%
$196,511
Alternative Uses
Best Use
Office B
$252.7K
$221.1K – $294.8K
NOI $17,686 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$327.6K
$286.7K – $382.3K
NOI $22,935 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,642
Businesses Nearby
Explore this area
Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
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?
Office building - Versatile office layout with multiple private rooms and two restrooms.
Where is this office building located?
The property is located at 1923 GRANT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Professional office building built in 1925; Approx. 1,344 SF versatile office space with multiple private office rooms; Includes 2 restrooms
