1318-24 Clearfield StPhiladelphia, PA 19132

Property Details for 1318-24 Clearfield St

Year built

1935

Property size (Sq ft)

26,465 SF

Property type

Office properties

Property subtype

Office space

Description

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.

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9995

Longitude

-75.1515

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