Corner Office
For Sale
$309,900
2401 PENNSYLVANIA AVENUE Unit 1C49-1C50, Philadelphia, PA 19130
First-floor workspace has a reception area, conference room, and a mix of private and open work areas.
Property Size1,188 SF
Price / SF$260.86
Days on Market9
Property Features for 2401 PENNSYLVANIA AVENUE Unit 1C49-1C50
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Office
Space & Availability
Floor
1
Condition
Move-in Ready
Site & Location
Neighborhood
Spring Garden
Utilities to Site
Yes
Additional Details
Office Units
2
Property Use
Office
Taxes and HOA fees
Annual Taxes
$1,909
Amenities
established commercial corridor
building lobby restrooms
Building Details
Building Size
1,188 SF
Year Built
1960
Buildings
1
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Michael D Phillips · License #RS327662
(267) 713-9616
Source:
Patmckennarealtors
Added: Oct 22
Changed: Oct 29
Last Checked: Oct 28 at 2:07PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,188-square-foot office condominium occupies a first-floor position in The Philadelphian. Its current plan includes a reception area and foyer, a corner conference room with wraparound windows, and both private and open work areas. The space is the west portion of a professional law office and can be used as configured or rearranged for office needs.
The building is a residential condominium with 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.
The adjoining C47-C48 units, approximately 1,527 square feet, are marketed separately; together, all four units currently operate as an approximately 2,715-square-foot office. The kitchenette and restrooms for the combined office are in C47-C48. If C49-C50 is occupied separately, building lobby restrooms are available. The property is in a 1960 building.
The building is a residential condominium with 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.
The adjoining C47-C48 units, approximately 1,527 square feet, are marketed separately; together, all four units currently operate as an approximately 2,715-square-foot office. The kitchenette and restrooms for the combined office are in C47-C48. If C49-C50 is occupied separately, building lobby restrooms are available. The property is in a 1960 building.
Key Highlights
- Approximately 1,188 SF of office condominium space
- First‑floor position in The Philadelphian, a residential condominium with more than 750 residences and over 1,200 residents
- Corner conference room features wraparound windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,634
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,680
$312.7K
Cap Rate 7%
$223,343
$223.3K
Cap Rate 9%
$173,711
$173.7K
Market Conditions
NOI Build-Up for 1,188 SF
Gross rent
$26.1K $21.96/SF
− Vacancy
−$5.2K −$4.41/SF
EGI
$20.8K $17.55/SF
− OpEx
−$5.2K −$4.39/SF
NOI
$15.6K $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%
$312,680
Cap Rate 7%
$223,343
Cap Rate 9%
$173,711
Alternative Uses
Best Use
Office B
$223.3K
$195.4K – $260.6K
NOI $15,634 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,273 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,991
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in Philadelphia, PA
Frequently Asked Questions
What type of property is this?
Office unit - First-floor workspace has a reception area, conference room, and a mix of private and open work areas.
Where is this office unit located?
The property is located at 2401 PENNSYLVANIA AVENUE Unit 1C49-1C50 Philadelphia, PA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Approximately 1,188 SF of office condominium space; First‑floor position in The Philadelphian, a residential condominium with more than 750 residences and over 1,200 residents; Corner conference room features wraparound windows
