2708 Commerce WayPhiladelphia, PA 19154

Property Details for 2708 Commerce Way

Year built

1925

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.09 AC

Property size (Sq ft)

35,148 SF

Zone code

I1

Property type

Office properties

Property subtype

Office buildings

APN

88-3-0920-50

APU

883092050

Description

This exceptional four-story, 35,148 square foot office building, situated on 2.09 acres in Philadelphia County, presents a unique investment opportunity. Built in 1925 and renovated in 1999, the Class B property boasts 10 suites, with 20,499 square feet currently vacant. The flexible floor plans offer spaces ranging from 2,351 to 5,150 square feet, ideal for various office configurations, including traditional, executive, medical, and creative uses. Amenities include 67 parking spaces, gas and electric power, elevators, and a convenient location near major commuter routes (Route 1, I-95, Pennsylvania Turnpike), providing easy access to Bucks and Montgomery Counties, South and Central New Jersey, and New York City. The building is zoned I1 and features high-end finishes throughout, including multiple private offices, conference rooms, kitchenettes, and common area restrooms in most units. Annual property taxes are $1.58 per square foot. The building's strategic location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a premium office space in Northeast Philadelphia. The second floor alone offers approximately 14,461 square feet, with the third floor offering 5,001 square feet and the fourth floor offering 2,847 square feet. This property is a rare find, combining location, size, and flexibility.

• CAP approach

  CAP return

  Valuation

  6%

  $7,066,056

  6.5%

  $6,522,513

  7%

  $6,056,619

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,592,438

  Geo Method

  $4,592,438

• Alternative Use

  Use

  Valuation

  Residential

  $8,087,916

  Hospitality

  $7,408,488

  Educational

  $6,163,774

  Medical

  $6,375,756

  Retail

  $9,588,094

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

40.1099

Longitude

-74.9797

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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