Two-Unit Office
22 E 3RD STREET Media, PA 19063
New
For Sale
$525,000
Two-unit office building offered for sale, most recently used as a law office.
Property Size1,820 SF
Price / SF$288.46
Days on Market7
Property Features for 22 E 3RD STREET
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
Legacy Real Estate, Inc.
(215) 287-5600
Listed By:
Sanjiv K Jain · License #RM421067
(215) 287-5600
Source:
Cummingsrealtors
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 29 at 6:18AM
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 Legacy Real Estate, Inc.
Investment Insights
Based on property information with market context.
This offering is a two-unit office property with a configuration suited to a professional operation. The space was most recently used as a lawyers office, providing a ready baseline for an office user looking to tailor the interiors to their needs.
The property is located near State Street, described as approximately two blocks away, putting restaurants and evening activity within close reach.
Offered for sale as a compact office investment or owner-operator opportunity, the building provides two separate office units under one roof.
The property is located near State Street, described as approximately two blocks away, putting restaurants and evening activity within close reach.
Offered for sale as a compact office investment or owner-operator opportunity, the building provides two separate office units under one roof.
Key Highlights
- 2‑unit office building offered for sale; most recently used as a law office
- Built in 1920
- Located just 2 blocks to State Street, with restaurants and nightlife nearby
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $26.40 |
| − Vacancy | −$8.3k | −$4.54 |
| EGI | $39.8k | $21.86 |
| − OpEx | −$9.9k | −$5.46 |
| NOI | $29.8k | $16.39 |
1,820 SF · lease $26.40/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$426.3K
$373.0K – $497.3K
NOI $29,838 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$551.8K
$482.8K – $643.8K
NOI $38,626 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Two-unit office building offered for sale, most recently used as a law office.
Where is this office units located?
The property is located at 22 E 3RD STREET Media, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2‑unit office building offered for sale; most recently used as a law office; Built in 1920; Located just 2 blocks to State Street, with restaurants and nightlife nearby
