1318-24 Clearfield StPhiladelphia, PA 19132

  • Healthcare properties
  • 26,465 SF
For Sale
$3,900,000 View listing

Property Details for 1318-24 Clearfield St

Year built
1935
Property size (Sq ft)
26,465 SF
Property type
Healthcare properties
Property subtype
Other office properties

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.

1318-24 Clearfield St, Philadelphia, Pennsylvania

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9995
Longitude
-75.1515

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