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    Property profile & analytics

    1500 John F Kennedy Blvd Philadelphia, PA 19102

    • Investment properties
    • 558,420 SF
    • 1.17 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2208159
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Look Great MD / Physician
    • Mattiacci Law, LLC / Law Firm
    • Salmanson Goldshaw, P.C. / Law Firm
    • James R Radmore Pc Attorney at Law / Law Firm
    • O'Hanlon Schwartz, P.C. / Law Firm

    Property Details for 1500 John F Kennedy Blvd

    Year built
    1959
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.17 lot acres
    Property size
    558,420 SF
    Zone code
    CMX5
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    88-3-0555-00
    APU
    883055500

    Description

    This exceptional commercial property, located at 1500 John F Kennedy Blvd in Philadelphia, PA 19102, offers a unique opportunity for businesses seeking flexible and strategically located space. The property, 2 Penn Center Concourse, is situated in the heart of Center City, directly adjacent to the SEPTA Suburban Train & Subway Station. This high-traffic area benefits from significant pedestrian flow during both commuting and lunch hours, providing excellent visibility and accessibility to over 300,000 daily SEPTA riders. The building offers a variety of spaces suitable for coworking and medical office uses, with four available units ranging from 614 to 3,878 square feet. The flexible space options allow for customization to meet diverse business needs. The property is part of a vibrant retail environment, sharing the building with established businesses such as URBA Coffee shop, Picture Foto, Au Bon Pain, Dunkin Donuts, and Tiffany's Bakery. This prime location offers unparalleled convenience and exposure, making it an ideal choice for businesses seeking a thriving and accessible location in the heart of Philadelphia. The property is classified as Retail and Office, with a subtype of Coworking, Medical Office, and Strip Center. Multiple tenancies are available. The building's proximity to City Hall, Dilworth Plaza, and the soon-to-be-renovated Love Park further enhances its desirability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $25,296,000
      Market price range: $8.98M - $51.0M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1614
    Latitude
    39.9517
    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
    $1,497,759
    $21,399,620
    $85,598,480
    $106,998,100
    -
    $21,399,620
    $85,598,480
    $106,998,100

    Comparable in this City

    • Value Estimation
      $680,000
      5,799 SF

      1516 Locust St

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      View Details
    • Value Estimation
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      5,852 SF

      245 16th St

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      245 16th St, Philadelphia, PA 19102-3332
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    • Value Estimation
      $9,445,000
      106,224 SF

      112 Broad St

      STORE/OFFICE (MIXED USE) • 106,224 SF
      112 Broad St, Philadelphia, PA 19102-1512
      View Details
    • Value Estimation
      $2,040,000
      20,250 SF

      1417 Locust St

      STORE/OFFICE (MIXED USE) • 20,250 SF
      1417 Locust St, Philadelphia, PA 19102-3829
      View Details
    • Value Estimation
      $21,870,000
      285,125 SF

      30 15th St, Unit 36

      STORE/OFFICE (MIXED USE) • 285,125 SF
      30 15th St, Philadelphia, PA 19102-4826
      View Details
    • Value Estimation
      $10,075,000
      128,115 SF

      1601 Walnut St, Unit 5

      STORE/OFFICE (MIXED USE) • 128,115 SF
      1601 Walnut St, Philadelphia, PA 19102-2944
      View Details

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    Philadelphia, PA 19102
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    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
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