Office Building with On-Site
For Sale
Contact for pricing
2317 S 23rd St, Philadelphia, PA 19145
CMX-2 zoning and dedicated parking support a range of office configurations.
Property Size13,000 SF
Lot Size0.50 Acres
Price / SF$161.54
Days on Market12
Property Features for 2317 S 23rd St
General Information
Standard status
Active
Size
13,000 SF
Total Parking Spaces
37
Lot size
0.50 Acres
Property subtype
OFFICE
Zoning
CMX-2
Building Details
Year Built
1985
Parking Ratio
2.85 per 1,000 SF
Listing Agency:
NAI Geis | Philadelphia
(215) 568-7222
Listed By:
Thomas S. Bond
(215) 568-1755
Source:
Moodyscre
Added: Oct 7
Changed: Oct 16
Last Checked: Oct 16 at 7:33AM
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 NAI Geis | Philadelphia
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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 office building contains 13,000 square feet on a 0.50-acre parcel. Constructed in 1985, the property has 37 parking spaces, with a parking ratio of 2.85 spaces per 1,000 square feet.
CMX-2 zoning applies to the property at 2317 S 23rd St in Philadelphia, Pennsylvania.
CMX-2 zoning applies to the property at 2317 S 23rd St in Philadelphia, Pennsylvania.
Key Highlights
- 13,000 square feet on 0.50 acres
- 37 parking spaces; 2.85 spaces per 1,000 SF
- CMX‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,074
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,421,480
$3.4M
Cap Rate 7%
$2,443,914
$2.4M
Cap Rate 9%
$1,900,822
$1.9M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$285.5K $21.96/SF
− Vacancy
−$57.4K −$4.41/SF
EGI
$228.1K $17.55/SF
− OpEx
−$57.0K −$4.39/SF
NOI
$171.1K $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%
$3,421,480
Cap Rate 7%
$2,443,914
Cap Rate 9%
$1,900,822
Alternative Uses
Best Use
Office B
$2.44M
$2.14M – $2.85M
NOI $171,074 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.17M
$2.77M – $3.70M
NOI $221,844 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
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 - CMX-2 zoning and dedicated parking support a range of office configurations.
Where is this office building located?
The property is located at 2317 S 23rd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 13,000 square feet on 0.50 acres; 37 parking spaces; 2.85 spaces per 1,000 SF; CMX‑2 zoning
