23 Chester PikeRidley Park, PA 19078

Property Details for 23 Chester Pike

Year built

1990

Lot size

0.29 AC

Property size (Sq ft)

15,456 SF

Property type

Office properties

Property subtype

Office buildings

APN

37-00-00320-00

APU

37000032000

Description

This exceptional 15,400 square foot office building, situated at 23 W Chester Pike in Ridley Park, Pennsylvania, presents a compelling investment opportunity. Priced at $2,400,000, this traditional office space boasts a strong 9.12% capitalization rate, generating a net operating income (NOI) of $218,853. The building's prime location along the bustling West Chester Pike (Route 13) ensures high visibility and accessibility. Its proximity to major highways, including Interstates 95 and 476, and its convenient location less than seven miles from Philadelphia International Airport, significantly enhance its appeal. Currently, approximately 1,000 to 4,600 square feet of space is available for sale. The property is ideally suited for a variety of professional office or medical users seeking to establish or expand their presence in the thriving Ridley Park market. The asking price per square foot is $155.84. This property offers a rare combination of strong financial performance, excellent location, and significant potential for future growth, making it an attractive investment prospect. The zip code is 19078, and the property is located in Delaware County.

• CAP approach

  CAP return

  Valuation

  6%

  $4,352,146

  6.5%

  $4,017,365

  7%

  $3,730,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,019,481

  Geo Method

  $2,019,481

• Alternative Use

  Use

  Valuation

  Residential

  $4,981,532

  Hospitality

  $4,563,057

  Educational

  $3,796,410

  Medical

  $3,926,974

  Retail

  $5,905,526

Location Insight

City

Ridley Park

County

Delaware

State

Pennsylvania

Latitude

39.8759

Longitude

-75.3232

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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