Current Use by Public Records
- Office Spaces
Property Details for 1609 Woodbourne St
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional 4,000-square-foot medical office condominium in Levittown, PA, presents a compelling owner-user or investment opportunity. Located at 1609 Woodbourne Road, this two-story Class B building offers a vacant, single-unit space with ample parking and ADA compliance. The asking price is $550,000, translating to $137.50 per square foot, and projecting a pro-forma cap rate of 13.09% with a pro-forma NOI of $72,000. The property boasts a prime location on Woodbourne Road, experiencing approximately 20,000 vehicles daily, ensuring high visibility and accessibility. Situated within a thriving area, the property benefits from a robust local economy, with over 52,000 residents within a three-mile radius and a median household income of approximately $75,000. Its convenient access to major highways, including I-95 and the Pennsylvania Turnpike, and proximity to Philadelphia and Trenton, expands its potential patient base. The property is ideally suited for various medical practices, capitalizing on the Philadelphia MSA's 15% growth in the medical office market over the past five years. The occupancy date is July 1, 2024. The property's APN is 22-055-223303A. This investment offers the potential for stable rental income and capital appreciation, ensuring long-term profitability and growth. The property is ready for immediate occupancy.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Levittown
- County
- Bucks
- State
- Pennsylvania
- Longitude
- -74.8687
- Latitude
- 40.1617
