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    421 W Marshall St Norristown, PA 19401

    View on Map
    Sponsored
    For Sale
    $749,000

    MULTI_FAMILY - NORRISTOWN, PA

    Lot size:
    0.04 Acres
    Days on Market:
    11
    Last Refresh:
    Mar 30 at 10:06 am

    Property Features for 421 W Marshall St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    Parking features
    On Street
    Lot size
    0.04 Acres

    Utilities

    Heating system
    Other (Heating)

    Building Details

    Year built
    1930
    Number of units
    3

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    Listing Contact
    George Korkus Jr
    George Korkus Jr

    Realty Mark Associates

    Listing agent George Korkus Jr License #AB042252A

    Listing date Mar 20, 2026

    MLS# PAMC2167534

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Mixed-Use Property in Thriving Norristown

    Located in the thriving business district of West Marshall Street, near the Montgomery County Court House, this mixed-use property offers a prime location with strong rental demand. The property features three apartments and a commercial space, presenting a rare opportunity for ownership. The location is conveniently situated just blocks from bus stops, the train station, and a grocery store. Elmwood Park, the Norristown Zoo, the Montgomery County Courthouse, the train station to Philadelphia, and the Norristown Public Library are all within a short walk. King of Prussia is a five-minute drive away, while Philadelphia is 30 minutes away. The commercial space is suitable for various businesses. The property benefits from ongoing improvements in Norristown, including streetscapes, a cultural district, major transportation projects, and thriving neighborhoods. New and expanding businesses are contributing to commercial growth in Norristown. Recreational amenities include the Thomas Barone Memorial Complex with athletic fields, Latshaw Field, and Elmwood Park with bocce ball, picnic areas, a playground, outdoor concerts, and volleyball. Redevelopment is planned for the Norristown riverfront, and the Schuylkill River Trail and Norristown Transportation Center development has been completed. A 70-acre parcel, formerly the site of the State Hospital, was deeded to Norristown borough.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marshall Street Check ... Check Cashing Western Union Bank

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.34874
    Latitude
    40.12019

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    FAQs

    What type of property is this?
    Mixed-use property - Three apartments and a commercial space in a prime location.
    Where is this mixed-use property located?
    The property is located at 421 W Marshall St Norristown, PA.
    What is the asking price?
    The asking price for this property is $749,000.
    What are key features of this property?
    This property features: - Prime location in a thriving business district, near Montgomery County Court House; - Rare opportunity to own 3 apartments and a commercial space (potential for high-demand tenant like Starbucks); - Strong rental demand with potential Montgomery County Housing Authority reimbursement (see attachment)
    (610) 213-9200
    Request Owner's contact information
    421 W Marshall St Norristown, PA 19401
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    Norristown, PA 19401
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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
    421 W Marshall St Norristown, PA 19401
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    We can help!
    Listing Contact
    George Korkus Jr
    George Korkus Jr
    Real Estate License ID: AB042252A
    Learn More
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