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

    915 Spg Gdn St Philadelphia, PA 19123-2613

    • Industrial properties
    • 75,000 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $6,995,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1162984
    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

    • 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

    Property Details for 915 Spg Gdn St

    Year built
    1885
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.34 lot acres
    Property size
    75,000 SF
    Zone code
    IRMX
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    88-4-0271-15
    APU
    884027115

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,175,000
      6.5%
      $8,470,000
      7%
      $7,865,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,034,000
      Market price range: $2.88M - $15.0M
      AI Estimate
      $5,472,000
      Market price range: $2.03M - $10.2M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $8,035,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1534
    Latitude
    39.9621
    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
    $91,786
    $2,057,100
    $4,500,000
    $6,557,100
    -
    $2,057,100
    $4,500,000
    $6,557,100

    Comparable in this City

    • Value Estimation
      $3,265,000
      22,950 SF

      823 3rd St, Unit 29

      INDUSTRIAL LOFT BUILDING • 22,950 SF
      823 3rd St, Philadelphia, PA 19123-2203
      View Details
    • Value Estimation by Request
      2,560 SF

      1322 Nectarine St, Unit 24

      INDUSTRIAL LOFT BUILDING • 2,560 SF
      1322 Nectarine St, Philadelphia, PA 19123-3228
      View Details
    • Value Estimation
      $1,185,000
      17,754 SF

      1303 Buttonwood St, Unit 9

      INDUSTRIAL LOFT BUILDING • 17,754 SF
      1303 Buttonwood St, Philadelphia, PA 19123-3609
      View Details
    • Value Estimation by Request
      810 SF

      1106 Dunton St

      CONSTRUCTION/CONTRACTING SERVICES • 810 SF
      1106 Dunton St, Philadelphia, PA 19123
      View Details
    • Value Estimation by Request
      2,538 SF

      1316 Nectarine St, Unit 20

      CONSTRUCTION/CONTRACTING SERVICES • 2,538 SF
      1316 Nectarine St, Philadelphia, PA 19123-3228
      View Details
    • Value Estimation
      $3,100,000
      11,700 SF

      808 3rd St, Unit 18

      CONSTRUCTION/CONTRACTING SERVICES • 11,700 SF
      808 3rd St, Philadelphia, PA 19123-2204
      View Details

    Similar Nearby for Sale

    • $779,000
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      Mixed-Use Property on Spring Garden

      Three-story mixed-use building with retail and residential units.
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      Mixed-Use Gem on Spring Garden

      Mixed-use property with retail space and residential unit in Philadelphia.
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    • $779,000
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      Mixed-Use Property Near Public Transit

      Three-story mixed-use property with retail and residential units in Philadelphia.
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      Cash-flowing mixed-use asset in a prime Philadelphia location.
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      Mixed-use properties • 4,350 SF
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    Similar Nearby for Lease

    • $2,500 /Mo

      Commercial Space in New Construction

      900 SF commercial space in Philadelphia's growing residential area.
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      188,000 SF

      Riverview Place Office Space Available

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      17,950 SF

      Prime Philadelphia Warehouse Space

      17,950 SF Warehouse, 11 Parking Spots
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    • Contact for pricing
      12,800 SF

      Spring Garden Street Warehouse

      12,800 SF Warehouse, Prime Location
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    • Contact for pricing
      34,000 SF

      Industrial Space with Freezer/Cooler

      34,000 SF industrial space with freezer/cooler for lease.
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    • $35 SF/Yr
      6,713 SF

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      6,713 SF space suitable for medical, retail, or flex use.
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      View Details
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    915 Spg Gdn St
    Philadelphia, PA 19123-2613
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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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