Old City Commercial
45 Strawberry St Philadelphia, PA 19106
45 Strawberry St, Philadelphia, PA, 19106
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For Sale
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Four-story commercial building in Philadelphia's historic Old City neighborhood.
Property Size2,360 SF
Lot Size0.02 Acres
Price / SF$336.86
Days on Market65
Property Features for 45 Strawberry St
General Information
- Standard status
- Active
- Size
- 2,360 SF
- Lot size
- 0.02 Acres
- Property subtype
- OFFICE
Listing Agency
MPN Realty, Inc.
(267) 546-1755
Listed by
Chris Cimino
(610) 896-5555
Source
Moodyscre
Added: May 15 Checked: Jul 17 at 3:46 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 MPN Realty, Inc.
Investment Insights
Based on property information with market context.
Located in Philadelphia's Old City neighborhood, 45 S. Strawberry Street is a four-story commercial building with 2,360 square feet of space, situated on a 731 square foot lot. The building features large windows on the front and south side of each floor. The first floor, approximately 460 square feet, is divided into two rooms with updated hardwood floors and 10-foot ceilings. The front room includes a coat closet and hall entryway, while the rear space has a powder room and rear exit to an alleyway. The basement, accessible from the rear of the first floor, spans 478 square feet with a 6’ 7” ceiling height and contains a gas hot-air furnace, hot water heater, fire protection system, gas meter, electric meter, water meter, water pump, and corner sump pump. The second floor offers approximately 473 square feet of space, a full bathroom with shower, a closet containing a washer and dryer, and 9-foot ceilings. The third floor, approximately 483 square feet, features a full modern kitchen with a gas stove, refrigerator, modern cabinets, granite countertops, and a granite-topped island, with 8-foot ceilings. The fourth floor provides approximately 466 square feet of space, a full bathroom with shower, two closets, ladder access to the roof, a skylight, and 7’ 10” ceilings. The property is zoned CMX-3, intended for community and region-serving retail and service uses, including Single, Double, & Multi-Family Household Living; Daycare; Educational Facilities; Business & Professional; Medical, Dental, & Health Practitioner; Government; Retail uses; Eating & Drinking establishments; and Personal Services. An emergency fire alarm with safety lights are installed on each floor. The building is currently vacant. The current use registration is for an Accountants Office Floors 1-4. The property has easy access to I-95, I-676, Columbus Boulevard, Penn’s Landing, and public transportation.
Key Highlights
- Prime Old City location near Chestnut Street, offering high visibility and foot traffic.
- Versatile CMX‑3 zoning allows for a wide range of commercial and residential uses.
- Four‑story building with updated hardwood floors, modern kitchen, and multiple bathrooms.
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 | $51.8k | $21.96 |
| − Vacancy | −$10.4k | −$4.41 |
| EGI | $41.4k | $17.55 |
| − OpEx | −$10.4k | −$4.39 |
| NOI | $31.1k | $13.16 |
2,360 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$443.7K
$388.2K – $517.6K
NOI $31,056 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$575.3K
$503.4K – $671.2K
NOI $40,273 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Four-story commercial building in Philadelphia's historic Old City neighborhood.
Where is this office building located?
The property is located at 45 Strawberry St Philadelphia, PA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Prime Old City location near Chestnut Street, offering high visibility and foot traffic.; Versatile CMX‑3 zoning allows for a wide range of commercial and residential uses.; Four‑story building with updated hardwood floors, modern kitchen, and multiple bathrooms.
