Renovated Flex/Studio Space For
For Sale
Contact for pricing
449 E Lafayette St, Norristown, PA
Recently renovated 8,000 SF flex/studio space near transportation.
Property Size8,000 SF
Lot Size0.11 Acres
Price / SF$165.63
Days on Market409
Property Features for 449 E Lafayette St
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.11 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Zommick McMahon Commercial Real Estate
(610) 359-1100
Listed By:
Chase Gunther
(610) 505-2242
Source:
Moodyscre
Added: Jul 24, 2025
Changed: Aug 21
Last Checked: Sep 5 at 12:20PM
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 Zommick McMahon Commercial Real Estate
Investment Insights
Based on property information with market context.
This recently renovated flex/modern studio space offers approximately 8,000 square feet of space. The two-story building features modern, industrial finishes throughout. It is located immediately off the Norristown Transportation Center, which is served by the Manayunk/Norristown Regional Rail line to Center City, approximately 17 miles away. The property is adjacent to the Schuylkill River Trail, providing convenient biking and walking access. A single 12’x12’ drive-in door provides access to the space. The property offers excellent connectivity via I-76, Route 202, and Ridge Pike.
Key Highlights
- Recently renovated ±8,000 SF flex / modern studio space.
- Immediately off Norristown Transportation Center with regional rail access to Center City (±17 miles).
- Modern, industrial finishes throughout the two‑story building.
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
$91,691
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
6.92%
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%
$1,833,820
$1.8M
Cap Rate 7%
$1,309,871
$1.3M
Cap Rate 9%
$1,018,789
$1.0M
Market Conditions
NOI Build-Up for 8,000 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
$151.7K $18.96/SF
− Vacancy
−$10.6K −$1.33/SF
EGI
$141.1K $17.63/SF
− OpEx
−$49.4K −$6.17/SF
NOI
$91.7K $11.46/SF
Area
Montgomery County, PA
Vacancy
7.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,833,820
Cap Rate 7%
$1,309,871
Cap Rate 9%
$1,018,789
Alternative Uses
Best Use
Office B
$1.80M
$1.57M – $2.10M
NOI $125,773 @ 7.0% cap · market cap 9.49%
Second Best
Flex RnD
$1.31M
$1.15M – $1.53M
NOI $91,691 @ 7.0% cap · market cap 6.92%
Theoretical Best
Specialty Retail
$4.60M
$4.03M – $5.37M
NOI $322,118 @ 7.0% cap · market cap 24.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Simply Divine Catering — 14 W Main St, Norristown, PA 19401
- Burly Dove Catering — 100 W Airy St, Norristown, PA 19401
Frequently Asked Questions
What type of property is this?
Flex space - Recently renovated 8,000 SF flex/studio space near transportation.
Where is this flex space located?
The property is located at 449 E Lafayette St Norristown, PA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Recently renovated ±8,000 SF flex / modern studio space.; Immediately off Norristown Transportation Center with regional rail access to Center City (±17 miles).; Modern, industrial finishes throughout the two‑story building.
