1500 John F Kennedy BlvdPhiladelphia, PA 19102
- Mixed-use properties
- 558,420 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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- Please email our support team at [email protected] and they will add the team member.
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