2821 Island Ave Philadelphia, PA 19153

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.