1650 Market StPhiladelphia, PA 19103

Property Details for 1650 Market St

Year built

1986

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.75 AC

Property size (Sq ft)

1,464,000 SF

Zone code

CMX5

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

88-3-0316-76

APU

883031676

Description

This Class A, 24,697 square foot office building at 1650 Market Street, Suite 3600, Philadelphia, PA 19103, offers a variety of executive, coworking, and creative office spaces. Located in Philadelphia County's Middle City West, this landmark building boasts stunning city views from its 26th-floor location. The property features 350 total suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. Renovated in 2019, the building includes elevators and provides convenient access to public transportation and numerous nearby restaurants. Tenancy is multiple, allowing for flexible lease arrangements. Options range from fully furnished, private offices for individuals or large companies to custom spaces, disaster recovery solutions, and day offices. A benefits program offering exclusive discounts and procurement support is also available. This prime location near City Hall and Market Street provides unparalleled convenience and prestige.

• CAP approach

  CAP return

  Valuation

  6%

  $584,816,000

  6.5%

  $539,830,144

  7%

  $501,270,880

• Comparable approach

  Method

  Valuation

  Relative Method

  $296,493,664

  Geo Method

  $296,493,664

• Alternative Use

  Use

  Valuation

  Residential

  $539,830,144

  Hospitality

  $494,481,536

  Educational

  $411,402,816

  Medical

  $425,551,584

  Retail

  $639,959,936

Location Insight

City

Philadelphia

County

Philadelphia

State

Pennsylvania

Latitude

39.9522

Longitude

-75.1674

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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