Medical Office and Retail
For Sale
$400,000
3150 Willits Rd, Philadelphia, PA 19136
Updated above-grade suite features a reception area, private exam rooms, and an unfinished full basement.
Property Size1,258 SF
Price / SF$317.97
Days on Market51
Property Features for 3150 Willits Rd
General Information
Standard status
Active
Size
1,258 SF
Building Details
Year Built
1949
Listing Agency:
Homestarr Realty
Listed By:
Michael Bottaro · License #AB067983
(267) 307-2444
Source:
Premierehomegroup
Added: Jul 26
Changed: Sep 11
Last Checked: Sep 13 at 3:03PM
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 Homestarr Realty
Investment Insights
Based on property information with market context.
This commercial retail and medical property offers 1,258 square feet of above-grade finished space. The interior has been updated with freshly painted walls, new drywall, and new carpeting. The layout includes a receptionist front desk area, several private exam rooms, and two bathrooms. An unfinished basement extends under the entire building, providing additional usable space.
The property is located off Holme Circle at the corner of Holme Ave and Willits Rd, within a larger shopping center that includes other tenants and a shared parking lot.
For space planning, the combination of finished clinical or professional rooms and a full unfinished basement supports a range of office and service-oriented uses, subject to applicable approvals.
The property is located off Holme Circle at the corner of Holme Ave and Willits Rd, within a larger shopping center that includes other tenants and a shared parking lot.
For space planning, the combination of finished clinical or professional rooms and a full unfinished basement supports a range of office and service-oriented uses, subject to applicable approvals.
Key Highlights
- 1,258 sq ft above‑grade finished space in a commercial retail/medical property
- Updated interior with freshly painted drywall and new carpeting throughout
- Layout includes a reception front desk, multiple private exam rooms, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,555
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$331,100
$331.1K
Cap Rate 7%
$236,500
$236.5K
Cap Rate 9%
$183,944
$183.9K
Market Conditions
NOI Build-Up for 1,258 SF
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.
Gross rent
$27.6K $21.96/SF
− Vacancy
−$5.6K −$4.41/SF
EGI
$22.1K $17.55/SF
− OpEx
−$5.5K −$4.39/SF
NOI
$16.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$331,100
Cap Rate 7%
$236,500
Cap Rate 9%
$183,944
Alternative Uses
Best Use
Office B
$236.5K
$206.9K – $275.9K
NOI $16,555 @ 7.0% cap · market cap 4.14%
Second Best
Healthcare Medical
$232.9K
$203.8K – $271.7K
NOI $16,304 @ 7.0% cap · market cap 4.08%
Theoretical Best
Multifamily LT 5
$306.7K
$268.4K – $357.8K
NOI $21,468 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19136, PA
39,151
Population
13,841
Households
2.8
Avg Household Size
36
Median Age
24%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,156
Density / Sq Mi
$65,499
Median Household Income
$40,495
Median Earnings
$1,200
Median Rent
$215,000
Median Home Value
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Market
Vacancy Rate% for Office in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Updated above-grade suite features a reception area, private exam rooms, and an unfinished full basement.
Where is this medical office space located?
The property is located at 3150 Willits Rd Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,258 sq ft above‑grade finished space in a commercial retail/medical property; Updated interior with freshly painted drywall and new carpeting throughout; Layout includes a reception front desk, multiple private exam rooms, and two bathrooms
