For Sale
$3,900,000

1318-24 Clearfield St Philadelphia, PA 19132

Medical/Creative Office, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 26,465 square foot office building, located at 1318-24 West Clearfield St in Philadelphia, PA 19132, presents a compelling investment opportunity. Built in 1935 and extensively renovated in 2005, the property boasts a Class C designation and features a modified lease structure with multiple tenants, achieving 100% occupancy. The building offers a strong net operating income (NOI) of $346,234, translating to an attractive 8.40% cap rate and a price per square foot of $147.36. The asking price is $3,900,000. Situated on a 34,105 square foot lot (APN: 883363100/883363000) and zoned I-2, this single-story building benefits from its prime location, just steps from Temple University's Medical Campus, and one block from Broad Street, providing convenient access to public transportation. The property includes off-street parking and is ideal for a 1031 exchange. Long-term leases are in place, ensuring a stable income stream. This property is a rare blend of historical charm and modern functionality, making it an excellent addition to any investment portfolio.

Highlights

  • Long-term leases provide stable income.
  • 1031 exchange opportunity available.
  • Excellent public transportation access.
  • Prime location, one block from Temple University's graduate campus.
  • Offers convenient off-street parking.

Property Details for 1318-24 Clearfield St

Property type
Office properties, Office space
Square Feet
26,465 SF
Class
C
Year Built/Renovated
1935/2005
Stories
1

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.999473
Longitude
-75.1514665

FAQs

What type of property is this?
Office property - Medical/Creative Office, High NOI
Where is the office property located?
The property is located at 1318-24 Clearfield St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Long-term leases provide stable income.; 1031 exchange opportunity available.; Excellent public transportation access.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1318-24 Clearfield St
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