1500 John F Kennedy BlvdPhiladelphia, PA 19102

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

Investment properties

Property subtype

Retail residential 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.

• 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

FAQs

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