Three-Unit
For Sale
$549,000
1020 W Main St, Norristown, PA 19401
Residential income property near shopping, dining, and major commuter routes.
Property Size2,974 SF
Price / SF$184.60
Days on Market127
Property Features for 1020 W Main St
General Information
Standard status
Active
Size
2,974 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,255
Building Details
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Blue Bell
(215) 480-2665
Listed By:
Cindy Marcinkowski · License #RS347703
(215) 480-2665
Source:
Exprealty
Added: Apr 20
Changed: Aug 23
Last Checked: Aug 24 at 9:30AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,212
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 7.87%
Second Best
Apartment 5plus
$574.0K
$502.3K – $669.7K
NOI $40,180 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $119,747 @ 7.0% cap · market cap 21.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 St Norristown, PA.
What is the asking price?
The asking price for this property is $549,000.
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
