Medical Office Condo
8939 Ridge Avenue Unit 3 Philadelphia, PA 19128
8939 Ridge Avenue Unit 3, Philadelphia, PA, 19128
$1,200,000
For Sale
$1,200,000
Five connected condo units operate as one continuous medical office with front entry and rear common parking.
Property Size3,000 SF
Price / SF$400
Days on Market130
Property Features for 8939 Ridge Avenue Unit 3
General Information
- Standard status
- Active
- Size
- 3,000 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1980
Listing agency
Keller Williams Real Estate-Blue Bell
(215) 817-0320
Listed by
Albert LaBrusciano · License #RS149026A
(215) 817-0320
Source
Xome
Added: Mar 16 Updated: Jul 21 at 5:30PM Checked: Jul 23 at 3:43AM
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 Keller Williams Real Estate-Blue Bell
Investment Insights
Based on property information with market context.
This property is currently used as a medical office and consists of five total condo units that are all connected and function as one continuous building. Parking is available on site, with an entrance in front of the building and common area parking located in the rear.
The property is positioned in a well-traveled area and is described as being close to public transportation and local shops. It is currently occupied under a leased setup.
The unit offered is Unit 3 within the overall connected medical office condominium configuration.
The property is positioned in a well-traveled area and is described as being close to public transportation and local shops. It is currently occupied under a leased setup.
The unit offered is Unit 3 within the overall connected medical office condominium configuration.
Key Highlights
- 5 total condo units connected and operated as one continuous medical office with a front entry and rear common parking
- Current tenant under a triple net lease
- Central air cooling; heating system listed as "3"
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 | $65.9k | $21.96 |
| − Vacancy | −$13.2k | −$4.41 |
| EGI | $52.6k | $17.55 |
| − OpEx | −$13.2k | −$4.39 |
| NOI | $39.5k | $13.16 |
3,000 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$564.0K
$493.5K – $658.0K
NOI $39,479 @ 7.0% cap · market cap 3.29%
Second Best
Healthcare Medical
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 3.24%
Theoretical Best
Multifamily LT 5
$731.4K
$639.9K – $853.3K
NOI $51,195 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
Similar Off Market Nearby
- Liberty Veterinary Clinic — 8919 Ridge Ave, Philadelphia, PA 19128
- Independent Vets — 15 Ridge Ave, Gulph Mills, PA 19428
- Petco Vaccination Clinic — 8500 Henry Ave Ste #10, Philadelphia, PA 19128
FAQs
What type of property is this?
Medical Office Space - Five connected condo units operate as one continuous medical office with front entry and rear common parking.
Where is this medical office space located?
The property is located at 8939 Ridge Avenue Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5 total condo units connected and operated as one continuous medical office with a front entry and rear common parking; Current tenant under a triple net lease; Central air cooling; heating system listed as "3"
