Office Units with Corner Conference
New
For Sale
$309,900
2401 PENNSYLVANIA AVENUE #1C49-1C50, Philadelphia, PA 19130
First-floor professional workspace includes reception, private and open work areas, and wraparound windows in the conference room.
Property Size1,188 SF
Price / SF$260.86
Days on Market4
Property Features for 2401 PENNSYLVANIA AVENUE #1C49-1C50
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Commercial
Site & Location
Neighborhood
Spring Garden
Additional Details
Floor
1
Office Units
2
Property Use
Office
Building Details
Year Built
1960
Buildings
1
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 2:35AM
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 C49-C50 comprise 1,188 SF of first-floor office space in The Philadelphian, a residential condominium completed in 1960. The layout includes a reception and foyer, a corner conference room with wraparound windows, and a mix of private and open work areas. The units form the west portion of a four-unit office configuration totaling approximately 2,715 SF. The adjoining C47-C48 units, approximately 1,527 SF, are listed separately and may be combined with C49-C50. The kitchenette and restrooms serving the full office are in C47-C48; building lobby restrooms are available when C49-C50 is used separately.
The building’s commercial corridor includes Klein's Supermarket, Wells Fargo, Little Pete's, NovaCare, and Parkway Pharmacy. Nearby destinations within walking distance include Whole Foods, the Philadelphia Museum of Art, the Barnes Foundation, the Rodin Museum, Eastern State Penitentiary, the Schuylkill River Trail, and Fairmount Avenue restaurants. The property is in Philadelphia’s Art Museum neighborhood, just off the Benjamin Franklin Parkway.
The building’s commercial corridor includes Klein's Supermarket, Wells Fargo, Little Pete's, NovaCare, and Parkway Pharmacy. Nearby destinations within walking distance include Whole Foods, the Philadelphia Museum of Art, the Barnes Foundation, the Rodin Museum, Eastern State Penitentiary, the Schuylkill River Trail, and Fairmount Avenue restaurants. The property is in Philadelphia’s Art Museum neighborhood, just off the Benjamin Franklin Parkway.
Key Highlights
- 1,188 SF across first‑floor Units C49‑C50
- Conference room features wraparound windows
- Reception and foyer, with private and open work areas
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.
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Current Use
Lease Details
2
Office units
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
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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 unit - First-floor professional workspace includes reception, private and open work areas, and wraparound windows in the conference room.
Where is this office unit located?
The property is located at 2401 PENNSYLVANIA AVENUE #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: 1,188 SF across first‑floor Units C49‑C50; Conference room features wraparound windows; Reception and foyer, with private and open work areas
