Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1635 Market Street Philadelphia, PA 19103

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space with direct access to transportation and amenities.

    Type:Office
    Property size:
    14,884 SF
    Added:
    Nov 22, 2025
    Days on Market:
    142
    Last Refresh:
    Apr 5 at 9:12 pm

    Property Features for 1635 Market Street

    General Information

    Standard status
    Active
    Size
    14,884 SF
    Property subtype
    Office

    Spaces For Lease

    at 1635 Market Street Contact us

    We can help!

    Listing Contact
    George Cauffman, III

    Listing agent George Cauffman, III

    Listing office

    Listing date Nov 22, 2025

    Source Cbre

    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 George Cauffman, III

    Overview

    1635 Market Street Office Space

    Located at 1635 Market Street, formerly known as 7 Penn Center, this property is situated at the intersection of 17th and Market Streets. It provides direct access to the concourse and SEPTA high-speed rail, subway, and subway-surface systems. The building is located less than one block from the Ritz-Carlton Hotel and the Shops at Liberty Place. On-site amenities include three restaurants, a full-service bank and MAC, 24-hour security, and state-of-the-art life safety systems, including sprinklers throughout. The property offers 14,884 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Philly Drywall and Paint ... Hardware & Home Improvement Spector Gadon Rosen ... Law Firm The Law Offices Of Lenard ... Law Firm The American Board of Plastic ... Medical Clinic MIS Capital LLC Construction Company

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.1674
    Latitude
    39.9529

    Nearby Similar for Lease

    • Contact for pricing

      Turnkey Medical Clinic in Philadelphia

      Fully built-out medical clinic available for lease in Northeast Philadelphia.
      7131 RISING SUN Avenue, PHILADELPHIA, PA 19111
      View Details
    • Contact for pricing

      Professional Office Space Available

      Well-maintained office space in a convenient Philadelphia location.
      10065-67 SANDMEYER Lane unit: 212, PHILADELPHIA, PA 19116
      View Details
    • Contact for pricing

      Prime Commercial Building on Broad

      Two-story commercial building on Broad Street available for lease.
      2520-22 N BROAD Street, PHILADELPHIA, PA 19132
      View Details
    • Contact for pricing

      Turn-Key Cafe Space in Philadelphia

      Cafe space in luxury apartment building in Old City.
      416 VINE Street, PHILADELPHIA, PA 19106
      View Details
    • Contact for pricing

      Philadelphia Office/Retail Space Available

      Turn-key office/retail space near Temple University and public transit.
      2304 N BROAD Street, PHILADELPHIA, PA 19132
      View Details
    • Contact for pricing

      Retail/Office Space in Philadelphia

      Ground floor retail/office space in a growing Philadelphia neighborhood.
      2737 W GIRARD Avenue, PHILADELPHIA, PA 19130
      View Details
    • Contact for pricing

      Germantown Office Space For Lease

      Prime Germantown office space, versatile and accessible location.
      5819 GERMANTOWN Avenue, PHILADELPHIA, PA 19144
      View Details
    • Contact for pricing

      Renovated Professional Space in Philadelphia

      Turn-key commercial space ideal for medical, professional, or educational use.
      6713-15 OGONTZ Avenue, PHILADELPHIA, PA 19126
      View Details
    • Contact for pricing

      Wynnefield Heights Commercial Unit

      Open commercial unit in a busy shopping complex.
      3901 CONSHOHOCKEN Avenue unit: 005, PHILADELPHIA, PA 19131
      View Details
    • Contact for pricing

      Prime Old City Retail Opportunity

      High-visibility retail space in Old City with flexible options.
      58 N 2ND Street unit: C1, PHILADELPHIA, PA 19106
      View Details
    • Contact for pricing

      Bi-Level Corner Restaurant/Bar Space

      Bi-level corner restaurant/bar with outdoor area in Art Museum.
      2633 POPLAR Street, PHILADELPHIA, PA 19130
      View Details
    • Contact for pricing

      North Philadelphia Commercial Space Available

      First-floor commercial space with high visibility and accessibility.
      2859 N 22ND Street unit: 1 St Floor, PHILADELPHIA, PA 19132
      View Details

    FAQs

    What type of property is this?
    Office building - Office space with direct access to transportation and amenities.
    Where is this office building located?
    The property is located at 1635 Market Street Philadelphia, PA.
    What are key features of this property?
    This property features: Direct access to SEPTA high‑speed rail, subway, and subway‑surface systems.; Located in the center of the action at 17th & Market Streets.; 24‑hour security.
    We can help!
    Listing Contact
    George Cauffman, III
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!