1725 Spruce StPhiladelphia, PA 19103

  • Residential income properties
  • 5,050 SF
For Lease
$31.68/SF/YR View listing

Property Details for 1725 Spruce St

Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.05 AC
Property size (Sq ft)
5,050 SF
Zone code
RM4
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
88-1-5427-00
APU
881542700

Description

This exceptional 1,900 square foot executive office space, located at 1725 Spruce St #1st & Lower Level in Philadelphia, PA 19103, is situated in a charming six-unit building just off Rittenhouse Park. The property boasts a desirable RM4 zoning and offers a unique blend of historic charm and modern functionality. The first floor features a spacious conference room with impressive, high (14-foot) ceilings and historic windows with shutters, a welcoming reception area, and several smaller, adaptable office spaces. A convenient trash room provides alley and street access. The lower level includes a half-bath, a kitchenette, built-in bookshelves, and an unfinished back room with cement floors and the building's heating system. The total building size is 5,050 square feet, with the 1,900 square foot space currently available for lease. The property sits on a 0.05-acre lot and was built in 1890. Two half-bathrooms are included in the 1,900 square foot space. With some cosmetic updates, this space presents a fantastic opportunity for a business seeking a prestigious and well-located office environment. A virtual tour is available.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,017,296
    6.5%
    $1,862,119
    7%
    $1,729,111
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,022,741
    Geo Method
    $1,022,741
  • Alternative Use

    Use
    Valuation
    Residential
    $1,862,119
    Hospitality
    $1,705,691
    Educational
    $1,419,115
    Medical
    $1,467,920
    Retail
    $2,207,512
1725 Spruce St, Philadelphia, Pennsylvania

Location Insight

City
Philadelphia
County
Philadelphia
State
Pennsylvania
Latitude
39.9479
Longitude
-75.1705
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
$21,456
$459,840
$1,072,960
$1,532,800
-
$459,840
$1,072,960
$1,532,800

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