Five-Unit Medical Office
For Sale
Contact for pricing
8945R Ridge Ave, Philadelphia, PA 19128
Combined office units currently configured for medical use with an established long-term lease in place.
Property Size3,000 SF
Price / SF$400
Days on Market139
Property Features for 8945R Ridge Ave
General Information
Standard status
Active
Size
3,000 SF
Class
A
Property subtype
Office
Zoning
CA2
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$95,481
Additional Details
Public Transit
Yes
Office Units
5
Building Details
Year Built
1984
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
Keller Williams Real Estate-Bl
(215) 646-2900
Listed By:
Albert LaBrusciano · License #149026
Source:
Crexi
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 8:45PM
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-Bl
Investment Insights
Based on property information with market context.
This offering includes five office units sold together as one package, comprising approximately 3,000 square feet. The property is currently configured for medical office use and is subject to a long-term lease. Built in 1984, the asset carries CA2 zoning and provides a consolidated office ownership opportunity rather than individual unit sales.
The property is located at 8945R Ridge Ave in Philadelphia, Pennsylvania, with access to public transportation and ample on-site parking. Its existing medical-office configuration and leased status provide a defined operating profile for office-focused ownership.
The property is located at 8945R Ridge Ave in Philadelphia, Pennsylvania, with access to public transportation and ample on-site parking. Its existing medical-office configuration and leased status provide a defined operating profile for office-focused ownership.
Key Highlights
- Five office units offered together as one package
- Approximately 3,000 square feet of office space
- Currently configured as a medical office
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
$39,479
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
3.29%
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%
$789,580
$789.6K
Cap Rate 7%
$563,986
$564.0K
Cap Rate 9%
$438,656
$438.7K
Market Conditions
NOI Build-Up for 3,000 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
$65.9K $21.96/SF
− Vacancy
−$13.2K −$4.41/SF
EGI
$52.6K $17.55/SF
− OpEx
−$13.2K −$4.39/SF
NOI
$39.5K $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%
$789,580
Cap Rate 7%
$563,986
Cap Rate 9%
$438,656
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 authorities.
Property Analytics
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 19128, PA
36,808
Population
19,006
Households
1.9
Avg Household Size
36
Median Age
55%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
5,258
Density / Sq Mi
$89,639
Median Household Income
$64,861
Median Earnings
$1,563
Median Rent
$330,800
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Combined office units currently configured for medical use with an established long-term lease in place.
Where is this office units located?
The property is located at 8945R Ridge Ave 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: Five office units offered together as one package; Approximately 3,000 square feet of office space; Currently configured as a medical office
