Multi-Unit Office
For Sale
$349,900
3222 W Cheltenham Ave, Philadelphia, PA 19150
Office suite with 10 units, plus a basement conference room and access to internet and utilities.
Property Size1,947 SF
Price / SF$179.71
Days on Market112
Property Features for 3222 W Cheltenham Ave
General Information
Standard status
Active
Size
1,947 SF
Site & Location
Neighborhood
Northwest Philadelphia
Additional Details
Office Units
10
Amenities
conference room
internet access
utility room
Building Details
Year Built
1950
Listing Agency:
Exit Benchmark Realty
Listed By:
Tony Goodman · License #RM420582
(215) 427-2870
Source:
Kandorre
Added: Jul 4
Changed: Oct 7
Last Checked: Oct 7 at 1:00PM
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 Exit Benchmark Realty
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Investment Insights
Based on property information with market context.
This offering is an office suite configuration consisting of 10 individual units. The property also includes a conference room located on the basement level. Access to internet services and an on-site utility room are identified features for the suite.
The listing is for sale at 3222 W Cheltenham Avenue in Philadelphia, PA. The provided financial information notes gross income of $5,500 if totally occupied with all utilities paid.
The stated unit size is 120 sq ft per unit, supporting flexible office space within a single suite arrangement.
The listing is for sale at 3222 W Cheltenham Avenue in Philadelphia, PA. The provided financial information notes gross income of $5,500 if totally occupied with all utilities paid.
The stated unit size is 120 sq ft per unit, supporting flexible office space within a single suite arrangement.
Key Highlights
- Office suite with 10 units, each 120 sq ft
- Rent: $650 per unit; gross income of $5,500 if fully occupied (all utilities paid)
- Basement level includes a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,622
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,440
$512.4K
Cap Rate 7%
$366,029
$366.0K
Cap Rate 9%
$284,689
$284.7K
Market Conditions
NOI Build-Up for 1,947 SF
Gross rent
$42.8K $21.96/SF
− Vacancy
−$8.6K −$4.41/SF
EGI
$34.2K $17.55/SF
− OpEx
−$8.5K −$4.39/SF
NOI
$25.6K $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%
$512,440
Cap Rate 7%
$366,029
Cap Rate 9%
$284,689
Alternative Uses
Best Use
Office B
$366.0K
$320.3K – $427.0K
NOI $25,622 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$474.6K
$415.3K – $553.8K
NOI $33,225 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
10
Office units
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
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Business Placement
Demographics for 19150, PA
23,126
Population
10,868
Households
2.1
Avg Household Size
47
Median Age
28%
College-Educated
91%
High-School Grad
1.5 sq mi
ZIP Area
15,417
Density / Sq Mi
$61,257
Median Household Income
$43,002
Median Earnings
$1,282
Median Rent
$225,400
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 - Office suite with 10 units, plus a basement conference room and access to internet and utilities.
Where is this office unit located?
The property is located at 3222 W Cheltenham Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Office suite with 10 units, each 120 sq ft; Rent: $650 per unit; gross income of $5,500 if fully occupied (all utilities paid); Basement level includes a conference room
