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    2821 Island Ave Philadelphia, PA 19153

    Sponsored
    For Sale
    $6,950,000

    Philadelphia Office Building - Value-Add Opportunity

    Property size:
    43,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 43,800 square-foot executive office building, located at 2821 Island Ave in Philadelphia, Pennsylvania, presents a compelling value-add investment opportunity. The two-story Class C building sits on a 3.44-acre lot and boasts a modified lease structure with multiple tenants, currently operating at 75% occupancy. The Grace Center occupies the space, providing a stable income stream. The asking price is $6,950,000, translating to $158.68 per square foot, with a projected cap rate of 7.20%. The property is zoned RSA3, offering flexibility for future development. Its prime location along a major thoroughfare in the East Wick section of Philadelphia offers convenient access to Philadelphia International Airport (within five minutes) and numerous retail amenities within walking distance. Ample parking is available on-site. This fee-simple ownership opportunity allows for significant upside potential through lease optimization and potential building improvements, making it an attractive investment for discerning buyers seeking a strong return in a vibrant Philadelphia market. The building's existing tenant base provides a solid foundation for future growth and income generation. This is a rare chance to acquire a well-located, multi-tenant office building with substantial value-add potential in a thriving urban area.

    Property Features for 2821 Island Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    43,800 SF
    Class
    C
    Lot Size
    149,846 SF

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • Exceptional value‑add opportunity.
    • Five‑minute drive to Philadelphia International Airport.
    • Convenient walk to retail amenities.
    • Extensive on‑site parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Christopher Cox Dentist Ugorji Okorie, MD Family Practice Physician Feinstein Steven A MD Doctor Draganescu John M ... Gastroenterologist Mercy Fitzgerald Hospital: ... Physician Assistant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.2394287
    Latitude
    39.906809

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    FAQs

    What type of property is this?
    Office Property / Space - Philadelphia Office Building - Value-Add Opportunity
    Where is this office property / space located?
    The property is located at 2821 Island Ave Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $6,950,000.
    What are key features of this property?
    This property features: Exceptional value-add opportunity.; Five-minute drive to Philadelphia International Airport.; Convenient walk to retail amenities.
    Request Owner's contact information
    2821 Island Ave Philadelphia, PA 19153
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2821 Island Ave Philadelphia, PA 19153
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