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Property profile & analytics
OFF-MARKET
Estimated value
$6,995,000
Industrial properties
915 Spg Gdn St Philadelphia, PA 19123-2613
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-1162984
Property summary
AI-generated overview
This exceptional 77,600 square foot creative office building, located at 915 Spring Garden Street in Philadelphia, Pennsylvania (zip code 19123), offers a unique blend of history and modern amenities. Originally constructed in 1968 and extensively renovated in 2019, the property boasts a rich past as a Reading Railroad office, textile factory, print shop, and warehouse. Currently configured as a multi-tenant building, it provides a variety of studio and creative office spaces, ranging from 1,917 to 3,066 square feet. These turn-key suites feature open floor plans, abundant natural light, attractive views, and high ceilings. Tenants enjoy 24/7 secured access and convenient access to a loading area and freight elevator. Adding to the building's appeal is the ground floor's Triple Bottom Brewing, a new brewery and eatery. Currently, 13,263 square feet of space is available. This property is situated in Philadelphia County and is part of a larger portfolio owned by Arts + Crafts Holdings within the Spring Arts area. The building's history and modern updates create a vibrant and productive work environment.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1885
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
75,000 SF
Lot
0.34 ac (14,930 SF)
Zoning code
IRMX
APN
88-4-0271-15
UPID
US73-1162984
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rita Seimienski Smith Artist
-
Smoke Before Fire Marketing & Advertising Advertising Agency
-
OOMBRA Architects, LLC Architect Architecture Firm
-
Jenn Hallgren Artist Artist
-
Reading Railroad Office Building Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.47M
Comparable Approach
Comparable
$7.03M
Blend (final)
Blend
$7.00M
Owner & transaction history
915 Spring Garden Assocs LP · 9 yrs held
915 Spring Garden Assocs LP
since 2016
4 recorded transactions
Zoning & alternative use
IRMX · Philadelphia, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Philadelphia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Philadelphia submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,175,000
6.5%
$8,470,000
7%
$7,865,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,035,000
Current use
Blend value · Realmo final
$7.00M
Range $6.30M – $7.69M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$93 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$91,786
Tax year 2023
Assessed value
$6,557,100
Assessed 2023
Previous assessed
$7,364,100
-11.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$2,057,100
Assessed improvement
$4,500,000
Land market value
$2,057,100
Improvement market value
$4,500,000
Total market value
$6,557,100
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1885
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
5
Total area
75,000 SF
Lot
0.34 ac (14,930 SF)
Zoning code
IRMX
APN
88-4-0271-15
UPID
US73-1162984
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
IRMX · Philadelphia, PA
Zoning IRMX · permitted uses
IRMX · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Philadelphia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$8.0M
INDUSTRIAL (GENERAL) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1885
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
5
Lot
0.34 ac
Current owner
From public records · entity-resolved
915 Spring Garden Assocs LP
Entity
Mailing address
990 SPG GDN ST, PHILADELPHIA, PA 19123-2638
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2018
—
915 Spring Garden Associates LP
—
Deed
related
$10,100,000 · Penn Community Bank
Dec 20, 2016
$6,500,000
915 Spring Garden Assocs LP
Penn-dion Corp
Grant Deed
$26,500 · Private Individual
Aug 23, 2005
$970,560
Penn Dion Corp
Eastern Properties INC
Other
$2,400,000 · Wachovia Bank NA
—
—
Penn-dion Corp
—
Deed Of Trust
related
$2,185,000 · Team Capital Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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