Office Condominium with Full
For Sale
$549,900
818 N 4TH ST #COMM COMM, Philadelphia, PA 19123
Masonry office suite with central air, natural gas heat, and separately metered utilities.
Property Size1,548 SF
Price / SF$355.23
Days on Market29
Property Features for 818 N 4TH ST #COMM COMM
General Information
Standard status
Active
Size
1,548 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Amenities
central air conditioning
natural gas heat
Building Details
Year Built
2017
Construction
masonry
Listing Agency:
Penn-Jersey Realty, LLC
(215) 639-4800
Listed By:
James A. Olivieri · License #RM424469
(267) 339-4341
Source:
Lakehomesbyliz
Added: Sep 4
Changed: Sep 28
Last Checked: Oct 1 at 11:04AM
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 Penn-Jersey Realty, LLC
Investment Insights
Based on property information with market context.
This office condominium occupies approximately 1,548 square feet in a masonry building constructed in 2017. The suite includes a complete interior build-out, central air conditioning, natural gas heat, and separately metered utilities. A level entrance without stairs supports convenient access for employees and visitors.
Located on N. 4th Street in Philadelphia, the property is near cafes, restaurants, and shops, with access to I-95, public transportation, and Center City. On-street parking provides additional convenience. The existing configuration can support an owner-user such as an attorney, accountant, title company, insurance or real estate office, or creative studio, while also offering a low-maintenance format for an investor.
Located on N. 4th Street in Philadelphia, the property is near cafes, restaurants, and shops, with access to I-95, public transportation, and Center City. On-street parking provides additional convenience. The existing configuration can support an owner-user such as an attorney, accountant, title company, insurance or real estate office, or creative studio, while also offering a low-maintenance format for an investor.
Key Highlights
- Approximately 1,548 SF office condominium in a masonry building constructed in 2017
- Full interior build‑out with central air conditioning and natural gas heat
- Separately metered utilities
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
$20,371
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
3.70%
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%
$407,420
$407.4K
Cap Rate 7%
$291,014
$291.0K
Cap Rate 9%
$226,344
$226.3K
Market Conditions
NOI Build-Up for 1,548 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
$34.0K $21.96/SF
− Vacancy
−$6.8K −$4.41/SF
EGI
$27.2K $17.55/SF
− OpEx
−$6.8K −$4.39/SF
NOI
$20.4K $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%
$407,420
Cap Rate 7%
$291,014
Cap Rate 9%
$226,344
Alternative Uses
Best Use
Office B
$291.0K
$254.6K – $339.5K
NOI $20,371 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$377.4K
$330.2K – $440.3K
NOI $26,416 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Masonry office suite with central air, natural gas heat, and separately metered utilities.
Where is this office units located?
The property is located at 818 N 4TH ST #COMM COMM Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Approximately 1,548 SF office condominium in a masonry building constructed in 2017; Full interior build‑out with central air conditioning and natural gas heat; Separately metered utilities
