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    Property profile & analytics

    1930 Broad St Philadelphia, PA 19145

    • Hospitals
    • 513,963 SF
    • 3.41 lot acres
    For Lease
    View listing
    $1.00 SF/Yr
    Last Sale
    Dec 27, 2021
    $75,000,000
    Value Estimations
    $75,195,000
    Cap Rate Potential
    9.1%
    Hospitals
    Location Intelligence
    Property ID
    US73-2149652
    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

    • Olde City Day School / School
    • Mercy Health System hospital / Hospital
    • Davida Kornreich Krupnick / Dermatologist
    • Pennsylvania Dermatology Partners - Steven R.Weasen MD / Dermatologist
    • Dr. Michael Abendroth || Philadelphia Eye Associates / Ophthalmologist

    Property Details for 1930 Broad St

    Year built
    1945
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.41 lot acres
    Property size
    513,963 SF
    Zone code
    CMX3
    Property type
    Hospitals
    APN
    77-3-0100-00
    APU
    773010000

    Description

    The Constitution Health Plaza, a prominent South Philadelphia medical and office complex, presents exceptional leasing opportunities. This 276,184 square foot facility, originally built in 1920 and extensively renovated in 2014, boasts a diverse tenant mix including Children's Hospital of Philadelphia (CHOP), Kindred, and Mercy Health. The property features 22 suites, with 45,880 square feet currently vacant, offering spaces ranging from 482 to 26,943 contiguous square feet. Located on a 3.479-acre site on Broad Street, the complex provides convenient access to major roadways including I-76 and I-95, City Hall, sports stadiums, and Philadelphia International Airport. The Plaza includes a five-level parking garage and a one-story powerhouse building, ensuring ample parking and operational support. Its prime location and modern amenities make it ideal for healthcare, professional, and educational services, catering to both national organizations and independent practices. The attended lobby and state-of-the-art facilities create a welcoming and efficient environment for patients and visitors. This multi-building complex is under new management and offers exciting prospects for prospective tenants seeking a well-established and strategically located presence in South Philadelphia. Philadelphia County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • CAP approach

      CAP Return
      Estimation
      6%
      $111,015,000
      6.5%
      $102,475,000
      7%
      $95,155,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $50,173,000
      Market price range: $17.1M - $89.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1702
    Latitude
    39.9263
    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
    $181,196
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $60,000,000

    Comparable in this City

    • Value Estimation
      $1,295,000
      7,714 SF

      1920 20th St, Unit 26

      HOSPITAL - PRIVATE • 7,714 SF
      1920 20th St, Philadelphia, PA 19145-2820
      View Details
    • Value Estimation
      $7,230,000
      42,137 SF

      1700 Broad St, Unit 2

      HOSPITAL - PRIVATE • 42,137 SF
      1700 Broad St, Philadelphia, PA 19145-2340
      View Details
    • Value Estimation
      $3,925,000
      22,871 SF

      1700 Broad St, Unit 1

      HOSPITAL - PRIVATE • 22,871 SF
      1700 Broad St, Philadelphia, PA 19145-2340
      View Details
    • Value Estimation by Request
      2,550 SF

      1800 Morris St

      HOMES (RETIRED, NURSING) • 2,550 SF
      1800 Morris St, Philadelphia, PA 19145-2115
      View Details
    • Value Estimation
      $555,000
      3,108 SF

      1436 Passyunk Ave, Unit 46

      MEDICAL CLINIC • 3,108 SF
      1436 Passyunk Ave, Philadelphia, PA 19145-2312
      View Details
    • Value Estimation
      $1,190,000
      6,900 SF

      2412 Passyunk Ave, Unit 14

      MEDICAL CLINIC • 6,900 SF
      2412 Passyunk Ave, Philadelphia, PA 19145-4114
      View Details

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      South Philly Medical Office Complex

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      View Details
    • $1.00 SF/Yr
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    Philadelphia, PA 19145
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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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