Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    401 Market St Philadelphia, PA 19106

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    401 Market St Philadelphia, PA 19106

    View on Map
    • Office properties & Spaces
    • 352,464 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Philadelphia LED & Digital Sign Manufacturing / (Bike/Boat/Book/etc) Store / Printing Service
    • Museum of Illusions Philadelphia / Museum / Amusement Center

    Property Details for 401 Market St

    Property size
    352,464 SF
    Property type
    Office properties & Spaces

    Description

    401 Market Street in Philadelphia, Pennsylvania, presents a unique opportunity for businesses seeking executive office space. This prestigious property, totaling 352,464 square feet, offers a total of eight individual suites, each with a minimum divisible space of 44,058 square feet. Currently, the entire building is vacant, providing a rare chance to occupy the entire space or lease individual suites. The building's design is specifically tailored to meet the demands of modern workplace preferences, making it an ideal location for companies seeking a cutting-edge and efficient office environment. Located at 401 Market Street, Philadelphia, PA 19106, this property is situated in Philadelphia County and offers a highly desirable address within the city. The building's size allows for flexibility in tenant needs, with a maximum contiguous space of 44,058 square feet. This property is classified as an executive office building, suggesting high-quality finishes and amenities. The address is conveniently located at 39.9506479 latitude and -75.1480864 longitude. This presents a significant opportunity for a single large tenant or multiple smaller tenants seeking a prominent location in Philadelphia. The entire 352,464 square feet is available for lease. This is a truly exceptional opportunity to secure a landmark office building in a thriving urban center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1481
    Latitude
    39.9506

    Comparable in this City

    • Value Estimation by Request
      2,754 SF

      313 Arch St

      Office properties & Spaces • 2,754 SF
      313 Arch St, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      2,190 SF

      205 Arch St

      Office properties & Spaces • 2,190 SF
      205 Arch St, Philadelphia, PA 19106
      View Details
    • Value Estimation by Request
      2,165 SF

      7 Columbus Blvd, Unit 100

      CONDOMINIUM OFFICES • 2,165 SF
      7 Columbus Blvd, Philadelphia, PA 19106-1441
      View Details
    • Value Estimation by Request
      2,165 SF

      7 Columbus Blvd, Unit 101

      CONDOMINIUM OFFICES • 2,165 SF
      7 Columbus Blvd, Philadelphia, PA 19106-1441
      View Details
    • Value Estimation
      $43,680,000
      218,258 SF

      150 Independence Mall W W Ste

      CONDOMINIUM OFFICES • 218,258 SF
      150 Independence Mall W W Ste, Philadelphia, PA 19106-3400
      View Details
    • Value Estimation
      $1,240,000
      5,655 SF

      126 Chestnut St, Unit 1A

      CONDOMINIUM OFFICES • 5,655 SF
      126 Chestnut St, Philadelphia, PA 19106-3072
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,500 SF

      Historic Philly Storefront

      1,500 SF Retail/Medical Office
      136 2Nd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      Pending

      Old City Commercial Space Available

      Office or retail space in a vibrant, high-traffic location.
      20 N 3Rd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing

      Retail/Office Space in Old City

      2,425 SF retail or office space in Philadelphia's Old City.
      313 Arch St, Philadelphia, PA 19106
      View Details
    • $1,600,000
      5,160 SF

      Old City Mixed-Use Gem

      Historic mixed-use property in Philadelphia's Old City neighborhood.
      239-00 Race St, Philadelphia, PA 19106
      View Details
    • $225,000
      1,145 SF

      Unique Commercial Space in Old City

      Modern commercial space in Philadelphia's Old City, suitable for various businesses.
      136-38 N 2Nd St, Philadelphia, PA 19106
      View Details
    • Contact for pricing

      Unique Commercial Space in Old City

      Modern commercial space in Philadelphia's desirable Old City location.
      136-38 N 2Nd St, Philadelphia, PA 19106
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,298 SF

      Office Space Available For Rent

      Office property with 6298 square feet available for rent.
      190 N Independence Mall West, Philadelphia, PA 19106
      View Details
    • $24 SF/Yr

      Office Space Available For Lease

      Office space for lease at 701 Market St, Philadelphia.
      701 Market St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      3,352 SF

      Renovated Boutique Building in Old City

      Historic building with modern amenities in a prime location.
      303 Cherry St, Philadelphia, PA 19106
      View Details
    • Contact for pricing
      3,550 SF

      Philadelphia Office Space For Rent

      7,488 SF office space available for rent in Philadelphia.
      718-724 Arch St, Philadelphia, PA 19106
      View Details
    • $19 SF/Yr

      Medical/Office Space for Lease

      Medical and office space available for lease.
      741-743 S 8Th St, Philadelphia, PA 19106
      View Details
    • $2,500 /Mo

      Mixed-Use Space in Philadelphia

      Live, work, and retail space available in Philadelphia.
      216 Church St, Philadelphia, PA 19106
      View Details
    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.
    401 Market St
    Philadelphia, PA 19106
    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

    Thank You for Inquiry

    401 Market St, Philadelphia, PA, 19106

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!