For Sale
$3,900,000

1318-24 Clearfield StPhiladelphia, PA 19132

Medical/Creative Office, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
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
1318-24 Clearfield St, Philadelphia, Pennsylvania

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1318-24 Clearfield St
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