Professional Office Units with Window
New
For Sale
$369,900
2401 PENNSYLVANIA AVENUE #1C47-1C48, Philadelphia, PA 19130
A first-floor suite includes a kitchenette, wet bar, and restroom with a walk-in shower.
Property Size1,527 SF
Price / SF$242.24
Days on Market4
Property Features for 2401 PENNSYLVANIA AVENUE #1C47-1C48
General Information
Standard status
Active
Size
1,527 SF
Property subtype
Commercial
Site & Location
Neighborhood
Spring Garden
Additional Details
Floor
First Floor
Property Use
Office
Building Details
Year Built
1960
Listing Agency:
Compass Pennsylvania, LLC
(267) 435-8015
Listed By:
Michael D Phillips · License #RS327662
(267) 713-9616
Source:
Cummingsrealtors
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 25 at 2:33AM
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 Compass Pennsylvania, LLC
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Investment Insights
Based on property information with market context.
Units C47-C48 comprise approximately 1,527 SF of first-floor office space at The Philadelphian, a residential condominium completed in 1960. The existing plan has private window offices, an open work area, a kitchenette/wet bar, and a restroom with a walk-in shower. The layout currently serves as part of a professional law office and can be reconfigured.
The property is in Philadelphia’s Art Museum neighborhood, near the Benjamin Franklin Parkway. The condominium has more than 750 residences and over 1,200 residents. Its commercial corridor includes Klein’s Supermarket, Wells Fargo, Little Pete’s, NovaCare, and Parkway Pharmacy. Whole Foods, the Philadelphia Museum of Art, the Barnes Foundation, the Rodin Museum, Eastern State Penitentiary, the Schuylkill River Trail, and Fairmount Avenue restaurants are within walking distance.
Adjacent Units C49-C50, totaling approximately 1,188 SF, are listed separately. The four units together function as an approximately 2,715 SF office and include a reception area, corner conference room, seven private window offices, two open work areas, kitchenette/wet bar, and two restrooms. Alternative uses, including residential conversion, require applicable zoning and condominium association approvals.
The property is in Philadelphia’s Art Museum neighborhood, near the Benjamin Franklin Parkway. The condominium has more than 750 residences and over 1,200 residents. Its commercial corridor includes Klein’s Supermarket, Wells Fargo, Little Pete’s, NovaCare, and Parkway Pharmacy. Whole Foods, the Philadelphia Museum of Art, the Barnes Foundation, the Rodin Museum, Eastern State Penitentiary, the Schuylkill River Trail, and Fairmount Avenue restaurants are within walking distance.
Adjacent Units C49-C50, totaling approximately 1,188 SF, are listed separately. The four units together function as an approximately 2,715 SF office and include a reception area, corner conference room, seven private window offices, two open work areas, kitchenette/wet bar, and two restrooms. Alternative uses, including residential conversion, require applicable zoning and condominium association approvals.
Key Highlights
- Approximately 1,527 SF of first‑floor office space in Units C47‑C48
- Private window offices, open work area, kitchenette/wet bar, and restroom with walk‑in shower
- The Philadelphian has more than 750 residences and over 1,200 residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,095
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,900
$401.9K
Cap Rate 7%
$287,071
$287.1K
Cap Rate 9%
$223,278
$223.3K
Market Conditions
NOI Build-Up for 1,527 SF
Gross rent
$33.5K $21.96/SF
− Vacancy
−$6.7K −$4.41/SF
EGI
$26.8K $17.55/SF
− OpEx
−$6.7K −$4.39/SF
NOI
$20.1K $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%
$401,900
Cap Rate 7%
$287,071
Cap Rate 9%
$223,278
Alternative Uses
Best Use
Office B
$287.1K
$251.2K – $334.9K
NOI $20,095 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$372.3K
$325.7K – $434.3K
NOI $26,058 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,991
Businesses Nearby
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Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Office unit - A first-floor suite includes a kitchenette, wet bar, and restroom with a walk-in shower.
Where is this office unit located?
The property is located at 2401 PENNSYLVANIA AVENUE #1C47-1C48 Philadelphia, PA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Approximately 1,527 SF of first‑floor office space in Units C47‑C48; Private window offices, open work area, kitchenette/wet bar, and restroom with walk‑in shower; The Philadelphian has more than 750 residences and over 1,200 residents
