Single-Tenant Medical Office
3108-3110 Grant Avenue Philadelphia, PA 19114
3108-3110 Grant Avenue, Philadelphia, PA, 19114
Contact for pricing
For Sale
Contact for pricing
Fee simple interest available in a fully occupied single-tenant medical office building with a 10-year net lease in place.
Property Size16,711 SF
Price / SF$250.13
Days on Market11
Property Features for 3108-3110 Grant Avenue
General Information
- Standard status
- Active
- Size
- 16,711 SF
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing Agency
Colliers - Conshohocken, Pennsylvania
(215) 928-7575
Listed by
Jeff Algatt · License #PA AB043589A
Source
Crexi
Added: Jul 8 Checked: Jul 17 at 11:33 am
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 Colliers - Conshohocken, Pennsylvania
Investment Insights
Based on property information with market context.
This fully occupied, single-tenant medical office building is offered for sale in fee simple. The property features a stone facade with windowed gables and was originally erected in 1920. Expansion and interior renovations in 2000 increased capacity and added medical-related upgrades. In 2023, the current long-term tenant, Refocus Eye Health, leased the entire building under a 10-year net lease that expires January 31, 2035.
The property is located in Philadelphia’s Great Northeast between Roosevelt Boulevard (US 1) and Frankford Avenue (US 13). Additional access is provided via Academy Road and I-95.
The building is available as a whole and is presently configured and operated for medical office use under the existing lease.
The property is located in Philadelphia’s Great Northeast between Roosevelt Boulevard (US 1) and Frankford Avenue (US 13). Additional access is provided via Academy Road and I-95.
The building is available as a whole and is presently configured and operated for medical office use under the existing lease.
Key Highlights
- Fully occupied single‑tenant medical office building offered as fee simple interest at 3110 Grant Avenue
- Leased to Refocus Eye Health under a 10‑year net lease expiring January 31, 2035
- Stone facade built in 1920, with expansion and interior renovations completed in 2000
Local 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 | $367.0k | $21.96 |
| − Vacancy | −$73.8k | −$4.41 |
| EGI | $293.2k | $17.55 |
| − OpEx | −$73.3k | −$4.39 |
| NOI | $219.9k | $13.16 |
16,711 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.14M
$2.75M – $3.67M
NOI $219,909 @ 7.0% cap · market cap 5.26%
Second Best
Healthcare Medical
$3.09M
$2.71M – $3.61M
NOI $216,575 @ 7.0% cap · market cap 5.18%
Theoretical Best
Multifamily LT 5
$4.07M
$3.56M – $4.75M
NOI $285,171 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Boulevard Animal Hospital — 1913 Grant Ave, Philadelphia, PA 19115
- Petco Vaccination Clinic — 9717 Roosevelt Blvd, Philadelphia, PA 19114
FAQs
What type of property is this?
Medical Office Space - Fee simple interest available in a fully occupied single-tenant medical office building with a 10-year net lease in place.
Where is this medical office space located?
The property is located at 3108-3110 Grant Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $4,180,000.
What are key features of this property?
This property features: Fully occupied single‑tenant medical office building offered as fee simple interest at 3110 Grant Avenue; Leased to Refocus Eye Health under a 10‑year net lease expiring January 31, 2035; Stone facade built in 1920, with expansion and interior renovations completed in 2000
