Three-Story Office Building with
For Sale
$2,499,999
718 CHESTNUT Street, Philadelphia, PA 19106
Commercial Sale, PHILADELPHIA, PA
Property Size9,600 SF
Lot Size0.07 Acres
Price / SF$260.42
Days on Market138
Property Features for 718 CHESTNUT Street
General Information
Property type
Other
Property subtype
Retail
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
2520900
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
reception area
kitchenette
hardwood floors
soaring ceilings
Building Details
Year built
2014
Building materials
Block
Listing Agency:
New Horizons Real Estate, Inc. · Century 21 Real Estate
(215) 343-8100
Listed By:
Michael Stitz · License #RS208032L
(215) 833-6690
Added: Jun 4
Changed: Sep 20
Last Checked: Oct 18 at 11:06PM
MLS# PAPH2626180
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 9,600-square-foot office building includes three stories, a fully finished basement, and elevator access to every level. The first floor features a reception area and kitchenette, while the second floor contains two large rooms with hardwood flooring and high ceilings. The third floor provides open interior space, and the basement adds storage or work area. Building systems include central air, forced-air heating, new electrical and plumbing systems, and a sprinkler installation serving all floors and the basement. Block construction and a 2014 build year complete the physical profile.
The property is currently 100% vacant and sits on a 0.07-acre lot at 718 CHESTNUT Street in Philadelphia. CMX-5 (Attached) zoning supports high-end retail, professional office use, and residential conversion. The site is located blocks from the Market Street Revitalization Project and near historical attractions, major hospitals, and restaurants.
The property is currently 100% vacant and sits on a 0.07-acre lot at 718 CHESTNUT Street in Philadelphia. CMX-5 (Attached) zoning supports high-end retail, professional office use, and residential conversion. The site is located blocks from the Market Street Revitalization Project and near historical attractions, major hospitals, and restaurants.
Key Highlights
- 9,600 square feet across three stories plus a finished basement
- Elevator service reaches all levels, including the basement
- 100% vacant office property at 718 CHESTNUT Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,331
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,526,620
$2.5M
Cap Rate 7%
$1,804,729
$1.8M
Cap Rate 9%
$1,403,678
$1.4M
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$210.8K $21.96/SF
− Vacancy
−$42.4K −$4.41/SF
EGI
$168.4K $17.55/SF
− OpEx
−$42.1K −$4.39/SF
NOI
$126.3K $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%
$2,526,620
Cap Rate 7%
$1,804,729
Cap Rate 9%
$1,403,678
Alternative Uses
Best Use
Office B
$1.80M
$1.58M – $2.11M
NOI $126,331 @ 7.0% cap · market cap 5.05%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,501 @ 7.0% cap · market cap 4.34%
Theoretical Best
Multifamily LT 5
$2.34M
$2.05M – $2.73M
NOI $163,823 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
17,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
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 building - Vacant office property with finished basement, elevator service, and CMX-5 zoning.
Where is this office building located?
The property is located at 718 CHESTNUT Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,499,999.
What are key features of this property?
This property features: 9,600 square feet across three stories plus a finished basement; Elevator service reaches all levels, including the basement; 100% vacant office property at 718 CHESTNUT Street
