Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    255 17Th St Philadelphia, PA 19103

    • Office Properties & Spaces
    • 95,334 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Smiles At The Square / Dentist
    • ILIA HEALING ARTS / Craniosacral Therapy / Wellness Program
    • GroupLevinson Public Relations / Public Relations Firm / Advertising Agency
    • Feldenkrais Method / Gym
    • Rittenhouse Psychiatry / Psychiatric Hospital / Counselor

    Property Details for 255 17Th St

    Property size
    95,334 SF
    Property type
    Office Properties & Spaces

    Description

    Medical Tower offers exceptional executive office suites in Philadelphia's vibrant Center City. This 30-story building boasts a total of 95,334 square feet of prime office space, with 15,023 square feet currently available. Units range from a minimum of 499 square feet to a maximum contiguous space of 3,250 square feet, catering to a variety of business needs. Tenancy is multiple, allowing for flexibility in lease terms and space configuration. The building's location is unparalleled, situated just one block from Rittenhouse Square, offering proximity to upscale residential areas, hotels, and condominiums. Enjoy stunning panoramic views of Center City from your office. The building features custom-designed medical space, ideal for healthcare professionals, and provides on-site security for peace of mind. Climate control is efficiently managed through water source heat pumps, ensuring comfortable year-round temperatures. This is a rare opportunity to secure prestigious office space in one of Philadelphia's most desirable locations. Contact us today to learn more about available suites and lease options. The building is located in Philadelphia County.

    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
    -75.1693
    Latitude
    39.9482

    Comparable in this City

    • Value Estimation by Request
      6,200 SF

      2026-2058 Market St

      Office Properties & Spaces • 6,200 SF
      2026-2058 Market St, Philadelphia, PA 19103
      View Details
    • Value Estimation by Request
      440 SF

      2101 Chestnut St, Unit C

      CONDOMINIUM OFFICES • 440 SF
      2101 Chestnut St, Philadelphia, PA 19103-3108
      View Details
    • Value Estimation
      $27,295,000
      205,334 SF

      1608 Walnut St Fl, Unit 14

      CONDOMINIUM OFFICES • 205,334 SF
      1608 Walnut St Fl, Philadelphia, PA 19103-5407
      View Details
    • Value Estimation by Request
      400 SF

      2301 Cherry St, Unit CI

      CONDOMINIUM OFFICES • 400 SF
      2301 Cherry St, Philadelphia, PA 19103-1029
      View Details
    • Value Estimation by Request
      67,837 SF

      1608 Walnut St

      Office space • 67,837 SF
      1608 Walnut St, Philadelphia, PA 19103
      View Details
    • Value Estimation
      $670,000
      3,470 SF

      2031 Walnut St, Unit 1F

      CONDOMINIUM OFFICES • 3,470 SF
      2031 Walnut St, Philadelphia, PA 19103-4493
      View Details

    Similar Nearby for Sale

    • $2,850,000
      10,000 SF

      Center City Executive Office Condo

      10,000 SF Office, 11 Parking Spaces, $2.85M
      2200 Arch St, Philadelphia, PA 19103
      View Details
    • $7,250,000
      16,000 SF

      Arroyo Business Center: Carlsbad Flex Space

      4,250 SF Flex Space; Carlsbad, I-5 Corridor
      1622 Locust St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      17,558 SF

      Prime Philadelphia Mixed-Use Property

      Walnut Street Redevelopment Opportunity: Liquor License Included
      2007 Walnut St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      16,000 SF

      Rittenhouse Square Estate For Sale

      Prestigious 16,000 SF Rittenhouse Square office building for sale.
      1622 Locust St, Philadelphia, PA 19103
      View Details
    • $1,875,000
      3,400 SF

      Rittenhouse Square Versatile Income Property

      Income-producing property near Rittenhouse Square, suitable for various uses.
      2047 Locust St, Philadelphia, PA 19103
      View Details
    • $3,450,000
      9,000 SF

      Historic Office Building Near Rittenhouse

      Five-story office building in Center City, one block from Rittenhouse.
      1629 Locust St, Philadelphia, PA 19103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,200 SF

      Prime Market Street Office Space

      6,200 SF Executive Office Suite Available
      2026-2058 Market St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      253,297 SF

      Prime Philadelphia Office Space

      Class A Office Suites, 13 Available
      0 3 Logan Sq, Philadelphia, PA 19103
      View Details
    • $24 SF/Yr
      71,177 SF

      Prime Philadelphia Executive Office Space

      15-story building, 14 suites, flexible layouts.
      1760 Market St, Philadelphia, PA 19103
      View Details
    • $34 SF/Yr
      17,328 SF

      Rittenhouse Square Class A Office

      Class A office space with park views and convenient transit.
      1845 Walnut St, Philadelphia, PA 19103
      View Details
    • Contact for pricing
      20,762 SF

      Philadelphia Logan Square Corporate Campus

      High-rise corporate campus in Philadelphia's arts and culture district.
      130 N 18Th St, Philadelphia, PA 19103
      View Details
    • New
      $3,500 /Mo

      Rittenhouse Corner Retail/Office Space

      2,000+/- SF retail/office space near Rittenhouse Square.
      1737-39 Chestnut St, Philadelphia, PA 19103
      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.
    255 17Th St
    Philadelphia, PA 19103
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.