Building Details

Building Size 961 SF

Year Built 1948

Listing Agency: BHHS Fox & Roach-Haverford c***@foxroach.com Show Phone

Listed By: Christie Paine · License #AB067297 Show Phone

Source: Lizclarkrealestate

Added: Jun 18 Changed: Aug 28 Last Checked: Aug 28 at 3:15PM

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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-Haverford

Investment Insights

Based on property information with market context.

This first-floor corner residence at Latches' Lane offers 961 square feet with one bedroom and one bathroom. The layout includes an expansive living room, formal dining room, large foyer, built-in storage, and hardwood floors. A newer kitchen features granite countertops and new flooring, while three new wall-mounted AC units provide cooling. The unit also includes an in-home washer and dryer and a basement storage locker.

Community amenities include a fitness room, social room, indoor and outdoor parking, an outdoor swimming pool, a lower-level laundry room, and an on-site management office. The property is located near transportation, a library, shops, and restaurants in Lower Merion. Built in 1948.

Key Highlights

• 961 SF first‑floor corner unit
• One bedroom and one bathroom with expansive living and formal dining areas
• Newer kitchen with granite countertops and new flooring

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

$12,983

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

5.09%

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%

$259,660 $259.7K

Cap Rate 7%

$185,471 $185.5K

Cap Rate 9%

$144,256 $144.3K

Market Conditions

NOI Build-Up for 961 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

$25.1K $26.16/SF

− Vacancy

−$1.5K −$1.60/SF

EGI

$23.6K $24.56/SF

− OpEx

−$10.6K −$11.05/SF

NOI

$13.0K $13.51/SF

Area

Montgomery County, PA

Vacancy

6.10%

Lease Rate

$26.16 /SF/Yr

Expense Ratio

45.00%

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%

$259,660

Cap Rate 7%

$185,471

Cap Rate 9%

$144,256

Alternative Uses

Best Use

Apartment 5plus

$185.5K

$162.3K – $216.4K (±1% cap)

NOI $12,983 @ 7.0% cap · market cap 5.09%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$552.8K

$483.7K – $644.9K (±1% cap)

NOI $38,694 @ 7.0% cap · market cap 15.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Meaningful Movement OT Physician Latch's Lane Condominiums Condominium Complex Stanley Forman Physician

Suggested Use

Top Pick Bakery Auto Parts Store Plumbing Service Wine and Liquor Store Cosmetic Store Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

1,433

Businesses Nearby

Explore this area Business Placement

Demographics for 19066, PA

6,107

Population

1,866

Households

3.3

Avg Household Size

38

Median Age

84%

College-Educated

98%

High-School Grad

1.3 sq mi

ZIP Area

4,698

Density / Sq Mi

$243,500

Median Household Income

$91,685

Median Earnings

$2,319

Median Rent

$871,300

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - First-floor corner residence with updated kitchen finishes, in-unit laundry, storage, and access to community amenities.

Where is this residential income property located?

The property is located at 40 OLD LANCASTER ROAD Unit 103 Merion Station, PA.

What is the asking price?

The asking price for this property is $255,000.

What are key features of this property?

This property features: 961 SF first‑floor corner unit; One bedroom and one bathroom with expansive living and formal dining areas; Newer kitchen with granite countertops and new flooring