Medical Office Building For
For Sale
$1,399,000
9821 ACADEMY ROAD, Philadelphia, PA 19114
Well-maintained medical office building with high visibility and income potential.
Property Size4,575 SF
Lot Size0.40 Acres
Price / SF$305.79
Days on Market126
Property Features for 9821 ACADEMY ROAD
General Information
Standard status
Active
Size
4,575 SF
Lot size
0.40 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$6,929
Building Details
Building Size
4,575 SF
Year Built
1988
Listing Agency:
Realty Mark Cityscape
(215) 783-8731
Listed By:
George J Cahill · License #RM044684
(215) 783-8731
Source:
Lizclarkrealestate
Added: Apr 28
Changed: Aug 28
Last Checked: Aug 29 at 2:55PM
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 Realty Mark Cityscape
Investment Insights
Based on property information with market context.
Located along the heavily traveled Academy Road corridor in Northeast Philadelphia, this 4,575 square foot medical office building offers a combination of location, functionality, and upside. Situated across from Northeast Philadelphia Airport, the property benefits from high visibility with 29,000 vehicles per day. Constructed in 1988 and expanded in 2012, the property is in good overall condition with modernized improvements, including an updated roof and ADA-accessible ramps. The building features a fully built-out medical layout, including a reception area, waiting room, multiple exam rooms, private offices, and a finished lower level with additional clinical and administrative space. The 0.40-acre parcel provides on-site parking with 12 spaces and convenient access. Currently leased to a medical user, the property generates approximately $97,000 per year, offering immediate income with future upside through lease restructuring or owner-user occupancy. The existing lease structure presents an opportunity to increase returns to market levels. Strategically located with quick access to I-95, US-1, and PA-63, and surrounded by residential density and retail amenities, this site supports long-term demand for medical and professional services. The property is suitable for medical, dental, or professional office use.
Key Highlights
- High‑visibility location on heavily traveled Academy Road (29,000 vehicles per day) directly across from Northeast Philadelphia Airport
- Fully built‑out, functional medical layout with reception, waiting room, exam rooms, private offices and finished lower level
- Strong income potential with existing lease generating approximately $97,000/year ($21.27/SF)
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
$60,205
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
4.30%
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%
$1,204,100
$1.2M
Cap Rate 7%
$860,071
$860.1K
Cap Rate 9%
$668,944
$668.9K
Market Conditions
NOI Build-Up for 4,575 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
$100.5K $21.96/SF
− Vacancy
−$20.2K −$4.41/SF
EGI
$80.3K $17.55/SF
− OpEx
−$20.1K −$4.39/SF
NOI
$60.2K $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%
$1,204,100
Cap Rate 7%
$860,071
Cap Rate 9%
$668,944
Alternative Uses
Best Use
Office B
$860.1K
$752.6K – $1.00M
NOI $60,205 @ 7.0% cap · market cap 4.30%
Second Best
Healthcare Medical
$847.0K
$741.2K – $988.2K
NOI $59,292 @ 7.0% cap · market cap 4.24%
Theoretical Best
Multifamily LT 5
$1.12M
$975.9K – $1.30M
NOI $78,072 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
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.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office building with high visibility and income potential.
Where is this medical office space located?
The property is located at 9821 ACADEMY ROAD Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: High‑visibility location on heavily traveled Academy Road (29,000 vehicles per day) directly across from Northeast Philadelphia Airport; Fully built‑out, functional medical layout with reception, waiting room, exam rooms, private offices and finished lower level; Strong income potential with existing lease generating approximately $97,000/year ($21.27/SF)
