1625 Chestnut StPhiladelphia, PA 19103

Property Details for 1625 Chestnut St

Year built

1990

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.64 AC

Property size (Sq ft)

144,660 SF

Zone code

CMX5

Property type

Shopping centers

Property subtype

Specialty properties

APN

88-2-8621-00

APU

882862100

Description

This exceptional retail property, formerly a Ruby Tuesday's, boasts a prime location at 1625 Chestnut Street in Philadelphia, PA 19103. The building offers a total of 215,873 square feet, with 5,861 square feet currently vacant and available for lease. The space is ideal for multiple tenants, offering flexibility in size and configuration. Six individual spaces are available, ranging from 4,611 square feet to 150,000 square feet, providing options to suit various business needs. This flagship location sits on a highly trafficked corner, ideally situated between the Central Business District and Rittenhouse Square, two vibrant and affluent areas. The surrounding area is experiencing significant growth, with major mixed-use developments generating over $1 billion in retail demand. This ensures a strong and growing customer base for any business occupying this space. The property benefits from its proximity to numerous high-profile retailers, including Forever 21, Nordstrom Rack, Uniqlo, Old Navy, and H&M, further enhancing its visibility and appeal. This is a rare opportunity to secure a prominent retail presence in one of Philadelphia's most desirable locations. The property type is classified as Retail, Subtype Storefront, Strip Center.

• CAP approach

  CAP return

  Valuation

  6%

  $68,505,000

  6.5%

  $63,235,388

  7%

  $58,718,572

• Comparable approach

  Method

  Valuation

  Relative Method

  $47,631,216

  Geo Method

  $47,631,216

• Alternative Use

  Use

  Valuation

  Residential

  $53,341,416

  Hospitality

  $48,860,448

  Educational

  $40,651,320

  Medical

  $42,049,380

  Retail

  $63,235,388

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9519

Longitude

-75.1681

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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