Historic Office Building with Marble
For Sale
Contact for pricing
1629 Locust St, Philadelphia, PA 19103
Five-story office building in CMX-3 zoning with a marble, winding staircase and historic designation in Philadelphia.
Property Size9,000 SF
Price / SF$383.33
Days on Market1269
Property Features for 1629 Locust St
General Information
Standard status
Active
Size
9,000 SF
Property subtype
OFFICE
Zoning
CMX-3
Building Details
Year Built
1899
Year Renovated
1985
Buildings
1
Stories
5
Building Size
10,350 SF
Listing Agency:
MSC Retail - Philadelphia
(215) 813-3784
Listed By:
Jacob Cooper · License #RS306451
Source:
Moodyscre
Added: Feb 8, 2023
Changed: Jul 31
Last Checked: Jul 31 at 4:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MSC Retail - Philadelphia
Investment Insights
Based on property information with market context.
Five-story office building featuring a marble, winding staircase. The property offers approximately 9,000 square feet of above-grade space plus a 1,350 square feet basement. Originally built in 1899, it has renovations dated 1943, 1985, and additional work noted in the 1900’s.
1629 Locust Street is located in Center City, Philadelphia, one block from Rittenhouse Square, in the heart of the business district and within Center City’s exclusive residential neighborhoods. The building is convenient to multiple forms of transportation and is surrounded by retail, hospitality, dining, galleries, theaters, and private clubs. More than 150 public parking spaces are within walking distance.
The building was listed on the Philadelphia Register of Historic Places in July 1982 and was later added to the Rittenhouse Fitler Historic District in February 1995. Zoning is (CMX-3) Commercial.
1629 Locust Street is located in Center City, Philadelphia, one block from Rittenhouse Square, in the heart of the business district and within Center City’s exclusive residential neighborhoods. The building is convenient to multiple forms of transportation and is surrounded by retail, hospitality, dining, galleries, theaters, and private clubs. More than 150 public parking spaces are within walking distance.
The building was listed on the Philadelphia Register of Historic Places in July 1982 and was later added to the Rittenhouse Fitler Historic District in February 1995. Zoning is (CMX-3) Commercial.
Key Highlights
- Approximately 9,000 square feet plus a 1,350 square feet basement
- Five‑story office building with a marble, winding staircase
- Built in 1899 with renovations in 1943, 1985, and the 1900’s
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $197.6k | $21.96 |
| − Vacancy | −$39.7k | −$4.41 |
| EGI | $157.9k | $17.55 |
| − OpEx | −$39.5k | −$4.39 |
| NOI | $118.4k | $13.16 |
9,000 SF · lease $21.96/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,436 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.19M
$1.92M – $2.56M
NOI $153,584 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
16,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
Market
Vacancy Rate% for Office in Philadelphia, PA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Five-story office building in CMX-3 zoning with a marble, winding staircase and historic designation in Philadelphia.
Where is this office building located?
The property is located at 1629 Locust St Philadelphia, PA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Approximately 9,000 square feet plus a 1,350 square feet basement; Five‑story office building with a marble, winding staircase; Built in 1899 with renovations in 1943, 1985, and the 1900’s
