Medical Office
New
For Sale
$849,000
7620-24 Ogontz Avenue, Philadelphia, PA 19150
Three Ogontz Avenue addresses offer professional and medical office configurations.
Property Size5,950 SF
Price / SF$183.21
Days on Market2
Property Features for 7620-24 Ogontz Avenue
General Information
Standard status
Active
Size
5,950 SF
Zoning
CMX2
Site & Location
Neighborhood
Northwest Philadelphia
Taxes and HOA fees
Annual Taxes
$9,494
Amenities
Natural Gas
Yes
No
Corner
Public
YE1
0.11
Estimated
On Street
5950.00
135660.00
Building Details
Building Size
5,950 SF
Year Built
1950
Buildings
3
Listing Agency:
Mike Dunphy Sells Real Estate Inc.
(215) 533-8000
Listed By:
Michael B Dunphy · License #RM420932
(215) 840-8399
Source:
Moveritenow
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 6 at 1:38AM
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 Mike Dunphy Sells Real Estate Inc.
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Investment Insights
Based on property information with market context.
The 4,634-square-foot property at 7620–7624 Ogontz Avenue includes three distinct spaces, with layouts ranging from four separate units to a multi-room medical office and a former pharmacy space. The four units at 7620 each have two large rooms, auxiliary space, a bathroom, and separate entrances. At 7622, the plan includes eight offices, a waiting room, and radiology rooms. The 7624 space has a large waiting room, a storage or office room, and a bathroom.
The property is zoned CMX2 and was built in 1950. Its prior uses include physician offices, diagnostic radiology, and pharmacy operations.
The property is zoned CMX2 and was built in 1950. Its prior uses include physician offices, diagnostic radiology, and pharmacy operations.
Key Highlights
- 4,634 square feet across 7620–7624 Ogontz Avenue
- 7620 includes four separately entered units, each with two large rooms, auxiliary space, and a bathroom
- 7622 contains eight offices, a waiting room, and radiology rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,147
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,342,940
$1.3M
Cap Rate 7%
$959,243
$959.2K
Cap Rate 9%
$746,078
$746.1K
Market Conditions
NOI Build-Up for 4,634 SF
Gross rent
$97.3K $21.00/SF
− Vacancy
−$7.8K −$1.68/SF
EGI
$89.5K $19.32/SF
− OpEx
−$22.4K −$4.83/SF
NOI
$67.1K $14.49/SF
Area
Philadelphia, PA
Vacancy
8.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,342,940
Cap Rate 7%
$959,243
Cap Rate 9%
$746,078
Alternative Uses
Best Use
Specialty Retail
$959.2K
$839.3K – $1.12M
NOI $67,147 @ 7.0% cap · market cap 7.91%
Second Best
Office B
$871.2K
$762.3K – $1.02M
NOI $60,981 @ 7.0% cap · market cap 7.18%
Theoretical Best
Multifamily LT 5
$1.13M
$988.5K – $1.32M
NOI $79,079 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Under-served
Demand for This Use
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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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Three Ogontz Avenue addresses offer professional and medical office configurations.
Where is this medical office space located?
The property is located at 7620-24 Ogontz Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 4,634 square feet across 7620–7624 Ogontz Avenue; 7620 includes four separately entered units, each with two large rooms, auxiliary space, and a bathroom; 7622 contains eight offices, a waiting room, and radiology rooms
