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    Erdenheim Garage and Workshop Space Title is generated by Realmo AI

    708 Bethlehem Pike Unit C, Glenside, PA 19038

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    Garage and workshop space in the heart of Erdenheim.

    Property size:
    1,378 SF
    Added:
    Mar 31, 2024
    Days on Market:
    799
    Last Refresh:
    May 12 at 8:56 pm

    Property Features for 708 Bethlehem Pike Unit C

    General Information

    Standard status
    Active
    Size
    1,378 SF
    Property subtype
    Other

    Building Details

    Year Built
    1922

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    Listing Contact
    Edward Welch

    Listing agent Edward Welch

    Listing office Higgins & Welch Real Estate, Inc.

    Listing date Mar 31, 2024

    Source Xome

    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 Higgins & Welch Real Estate, Inc.

    HighLights

    • Oversized first‑floor garage with a new 7' x 8' steel door and a 1,378 sq ft second‑floor workshop/storage space.
    • Prime Erdenheim location, with easy access to Lincoln Drive, Rt 309, Germantown Pike, Stenton Avenue, PA Turnpike (Rt 276), and Blue Route (Rt 476).
    • 220v electric service already installed.
    • New roof, garage door, and most windows.
    • Sewer, water, and gas lines run to the building and are available for connection.
    • Option to lease an additional approximate 1,000 sq ft one‑story building with three garages and on‑site parking for $10,000/month + utilities.

    Overview

    Located in Erdenheim, this property features an oversized first-floor garage and a second-floor workshop/storage area. The second floor provides 1,378 square feet of workshop/storage space divided into three areas measuring (15’ x 24), (22 x 24), and (18 x 24). The first floor includes a garage with a new double steel garage door measuring 7’ in height x 8’ in width. The building is wired with 220v electric service. Sewer, water, and gas are run to the building and available for connection. The roof, garage door, and most windows have been recently replaced. The property is located minutes from Lincoln Drive, Rt 309, Germantown Pike, Stenton Avenue, the PA Turnpike (Rt 276), and Blue Route (Rt 476). If additional space is required, landlord will consider leasing the above plus the attached one story building (to the right when viewed from the street) and majority of site for $10,000/month + utilities. This includes all noted space above, plus an additional approximate 1,000 sq ft with three garages that are 27’ in depth and on site for parking. The three garage doors on the one story portion of the building are two that are 8’ H x 8’9” W, and one that is 8’ H x 9’0” W.
    Property Profile Location Intelligence

    Current Use by Public Records

    Stewart Robert C Plumbing Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Seedling and Sage Catering — 102 N Tyson Ave, Glenside, PA 19038
    • Chef Missy — 252 Berkeley Rd, Glenside, PA 19038

    Location Insight

    • Map
    • Local Demand
    City
    Glenside
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.1722
    Latitude
    40.1012

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    FAQs

    What type of property is this?
    Flex space - Garage and workshop space in the heart of Erdenheim.
    Where is this flex space located?
    The property is located at 708 Bethlehem Pike Unit C Glenside, PA.
    What are key features of this property?
    This property features: Oversized first‑floor garage with a new 7' x 8' steel door and a **1,378 sq ft second‑floor workshop/storage space.**; Prime Erdenheim location, with easy access to Lincoln Drive, Rt 309, Germantown Pike, Stenton Avenue, PA Turnpike (Rt 276), and Blue Route (Rt 476).; 220v electric service already installed.
    (215) 247-5000
    We can help!
    Listing Contact
    Edward Welch
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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.

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