Philadelphia Medical Office Condo For
For Sale
$2,200,000
207 N Broad Street, Philadelphia, PA 19107
First floor medical office condo in Center City Philadelphia.
Property Size6,300 SF
Price / SF$349.21
Days on Market201
Property Features for 207 N Broad Street
General Information
Standard status
Active
Size
6,300 SF
Class
C
Property subtype
Office
Building Details
Building Size
6,300 SF
Year Built
1939
Listing Agency:
SVN | Ahia
(267) 981-9110
Listed By:
Chichi E. Ahia, SIOR · License #PA #RM423727
(267) 981-9110
Source:
Svn
Added: Jan 27
Changed: Aug 8
Last Checked: Apr 6 at 12:28AM
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 SVN | Ahia
Investment Insights
Based on property information with market context.
This 6,300 SF, two-level medical office condo is located in Philadelphia, Pennsylvania. Situated on the first floor of an elevator-served building, the property is located in the Central City neighborhood of Philadelphia, between Race Street and the Vine Street Expressway, with close proximity to City Hall, the Convention Center, and Reading Terminal Market. The property is zoned CMX-4 (Center City Commercial Mixed-Use), allowing for a wide range of permitted commercial and retail uses. The versatile floor plan provides a convenient, turn-key medical setup. Convenient parking is available in the adjacent public parking lot. The 30,380 SF gross building area is located on SEPTA's Broad Street Line, which provides accessibility throughout the City with a stop at Suburban Station. It is located close to the Philadelphia Marriott Downtown, restaurants & amenities with convenient access to I-676 (Vine Street Expressway) & I-95. The property is located minutes from Reading Terminal Market, Philadelphia City Hall, Pennsylvania Conventional Center and Pennsylvania Academy of the Fine Arts.
Key Highlights
- Turn‑key, 6,300 SF medical office condo in a highly accessible Center City location.
- Zoned CMX‑4, allowing for a wide range of commercial and retail uses.
- Conveniently located near major attractions like City Hall, the Convention Center, and Reading Terminal Market.
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
$82,905
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%
$1,658,100
$1.7M
Cap Rate 7%
$1,184,357
$1.2M
Cap Rate 9%
$921,167
$921.2K
Market Conditions
NOI Build-Up for 6,300 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
$138.3K $21.96/SF
− Vacancy
−$27.8K −$4.41/SF
EGI
$110.5K $17.55/SF
− OpEx
−$27.6K −$4.39/SF
NOI
$82.9K $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%
$1,658,100
Cap Rate 7%
$1,184,357
Cap Rate 9%
$921,167
Alternative Uses
Best Use
Office B
$1.18M
$1.04M – $1.38M
NOI $82,905 @ 7.0% cap · market cap 3.77%
Second Best
Healthcare Medical
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 3.71%
Theoretical Best
Multifamily LT 5
$1.54M
$1.34M – $1.79M
NOI $107,509 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
25,326
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First floor medical office condo in Center City Philadelphia.
Where is this medical office space located?
The property is located at 207 N Broad Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Turn‑key, 6,300 SF medical office condo in a highly accessible Center City location.; Zoned CMX‑4, allowing for a wide range of commercial and retail uses.; Conveniently located near major attractions like City Hall, the Convention Center, and Reading Terminal Market.
