Three-Unit
For Sale
$525,000
1020 W MAIN STREET, Norristown, PA 19401
Residential income property near shopping, dining, and major commuter routes.
Property Size2,974 SF
Days on Market196
Property Features for 1020 W MAIN STREET
General Information
Standard status
Active
Size
2,974 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,255
Building Details
Building Size
2,974 SF
Year Built
1889
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Blue Bell
Listed By:
Cindy Marcinkowski · License #RS347703
(215) 480-2665
Source:
Lizclarkrealestate
Added: Apr 22
Changed: Oct 31
Last Checked: Nov 3 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach-Blue Bell
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Investment Insights
Based on property information with market context.
This multifamily property contains three separate residential units and was built in 1889. The configuration provides distinct living spaces within a single residential income property, with current tenants involved in an ownership transition process.
Located at 1020 W Main Street in Norristown, Pennsylvania, the property is near shopping, dining, and major commuter routes. The buyer will be responsible for U&O, while the owner will provide guidance during tenant onboarding and the transfer of ownership.
Located at 1020 W Main Street in Norristown, Pennsylvania, the property is near shopping, dining, and major commuter routes. The buyer will be responsible for U&O, while the owner will provide guidance during tenant onboarding and the transfer of ownership.
Key Highlights
- Three‑unit multifamily property
- Built in 1889
- Located at 1020 W Main Street, Norristown, PA 19401
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,212
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,240
$864.2K
Cap Rate 7%
$617,314
$617.3K
Cap Rate 9%
$480,133
$480.1K
Market Conditions
NOI Build-Up for 2,974 SF
Gross rent
$66.0K $22.20/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$61.7K $20.76/SF
− OpEx
−$18.5K −$6.23/SF
NOI
$43.2K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,240
Cap Rate 7%
$617,314
Cap Rate 9%
$480,133
Alternative Uses
Best Use
Multifamily LT 5
$617.3K
$540.2K – $720.2K
NOI $43,212 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$574.0K
$502.3K – $669.7K
NOI $40,180 @ 7.0% cap · market cap 7.65%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,747 @ 7.0% cap · market cap 22.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Residential income property near shopping, dining, and major commuter routes.
Where is this triplex located?
The property is located at 1020 W MAIN STREET Norristown, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three‑unit multifamily property; Built in 1889; Located at 1020 W Main Street, Norristown, PA 19401
