1500 John F Kennedy BlvdPhiladelphia, PA 19102

  • Mixed-use properties
  • 558,420 SF
For Lease
$27/SF/YR View listing

Property Details for 1500 John F Kennedy Blvd

Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.17 AC
Property size (Sq ft)
558,420 SF
Zone code
CMX5
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
88-3-0555-00
APU
883055500

Description

This exceptional commercial property, located at 1500 John F Kennedy Blvd in Philadelphia, PA 19102, offers a unique opportunity for businesses seeking flexible and strategically located space. The property, 2 Penn Center Concourse, is situated in the heart of Center City, directly adjacent to the SEPTA Suburban Train & Subway Station. This high-traffic area benefits from significant pedestrian flow during both commuting and lunch hours, providing excellent visibility and accessibility to over 300,000 daily SEPTA riders. The building offers a variety of spaces suitable for coworking and medical office uses, with four available units ranging from 614 to 3,878 square feet. The flexible space options allow for customization to meet diverse business needs. The property is part of a vibrant retail environment, sharing the building with established businesses such as URBA Coffee shop, Picture Foto, Au Bon Pain, Dunkin Donuts, and Tiffany's Bakery. This prime location offers unparalleled convenience and exposure, making it an ideal choice for businesses seeking a thriving and accessible location in the heart of Philadelphia. The property is classified as Retail and Office, with a subtype of Coworking, Medical Office, and Strip Center. Multiple tenancies are available. The building's proximity to City Hall, Dilworth Plaza, and the soon-to-be-renovated Love Park further enhances its desirability.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $223,068,960
    6.5%
    $205,909,808
    7%
    $191,201,968
  • Comparable approach

    Method
    Valuation
    Relative Method
    $113,092,896
    Geo Method
    $113,092,896
  • Alternative Use

    Use
    Valuation
    Residential
    $205,909,808
    Hospitality
    $188,612,272
    Educational
    $156,923,200
    Medical
    $162,320,032
    Retail
    $244,102,752
1500 John F Kennedy Blvd, Philadelphia, Pennsylvania

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9517
Longitude
-75.1614
CBSA code
37980
CBSA name
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$1,497,759
$21,399,620
$85,598,480
$106,998,100
-
$21,399,620
$85,598,480
$106,998,100

FAQs

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