Updated Triplex With Separate
For Sale
$399,900
709 GEORGE STREET, Norristown, PA 19401
Three residential units include one vacancy and two occupied apartments, plus rear parking and an attached storage shed.
Property Size2,423 SF
Price / SF$165.04
Days on Market29
Property Features for 709 GEORGE STREET
General Information
Standard status
Active
Size
2,423 SF
Property subtype
Triplex
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Homestarr Realty
(267) 242-9172
Listed By:
Gerald P Hill · License #RM421402
(267) 242-9172
Source:
Cummingsrealtors
Added: Jul 27
Changed: Aug 23
Last Checked: Aug 23 at 8:46AM
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 Homestarr Realty
Investment Insights
Based on property information with market context.
This triplex at 709 George Street contains three residential units: two apartments with 2 bedrooms and 1 full bath each, plus a 1-bedroom, 1-full-bath apartment. The property was recently updated, and two units are occupied while the third is vacant. The open unit can support owner occupancy or a new tenancy, subject to applicable requirements. Separate metering is provided for all utilities, including a dedicated service for the owner, simplifying utility allocation and management. The property was built in 1890 and includes rear parking, an attached storage shed, and additional street parking.
The Norristown location is near shopping, restaurants, public transportation, and major commuter routes. Walkable surroundings provide convenient access to everyday services and transportation options for residents.
The Norristown location is near shopping, restaurants, public transportation, and major commuter routes. Walkable surroundings provide convenient access to everyday services and transportation options for residents.
Key Highlights
- Three‑unit residential property with two 2‑bedroom units and one 1‑bedroom unit
- Two units occupied; one unit vacant for owner occupancy or a new tenancy
- Recently updated throughout
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
$35,206
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
8.80%
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%
$704,120
$704.1K
Cap Rate 7%
$502,943
$502.9K
Cap Rate 9%
$391,178
$391.2K
Market Conditions
NOI Build-Up for 2,423 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
$53.8K $22.20/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$50.3K $20.76/SF
− OpEx
−$15.1K −$6.23/SF
NOI
$35.2K $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%
$704,120
Cap Rate 7%
$502,943
Cap Rate 9%
$391,178
Alternative Uses
Best Use
Multifamily LT 5
$502.9K
$440.1K – $586.8K
NOI $35,206 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$467.7K
$409.2K – $545.6K
NOI $32,736 @ 7.0% cap · market cap 8.19%
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.63M
NOI $97,561 @ 7.0% cap · market cap 24.40%
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
1,722
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 - Three residential units include one vacancy and two occupied apartments, plus rear parking and an attached storage shed.
Where is this triplex located?
The property is located at 709 GEORGE STREET Norristown, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three‑unit residential property with two 2‑bedroom units and one 1‑bedroom unit; Two units occupied; one unit vacant for owner occupancy or a new tenancy; Recently updated throughout
