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    Prime Ardmore Retail & Office Title is generated by Realmo AI

    10 W Lancaster Ave, Ardmore, PA 19003

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    13,000 SF retail and office building in downtown Ardmore.

    Type:Retail
    Property size:
    17,500 SF
    Price / SF:
    $125/SF
    Added:
    Feb 16, 2024
    Days on Market:
    840
    Last Refresh:
    May 12 at 9:47 pm

    Property Features for 10 W Lancaster Ave

    General Information

    Standard status
    Active
    Size
    17,500 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Jesse Dubrow

    Listing agent Jesse Dubrow License #RS362355

    Listing office MSC Retail

    Listing date Feb 16, 2024

    Source Crexi

    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 MSC Retail

    HighLights

    • Prime location in the heart of downtown Ardmore, PA, along Philadelphia's Main Line.
    • Significant vacancy: 6,000 sq ft of retail space and 3,000 sq ft of turn‑key office space available.
    • Located in a highly affluent submarket with an average household income of $220,000 within a 3‑mile radius.
    • 4,000 sq ft basement with potential for additional tenant occupancy.
    • Situated within Lower Merion Township, known for its excellent schools.
    • Quality construction brick building built in 1920.

    Overview

    This 13,000 square foot retail and office building is located in downtown Ardmore, PA. The two-story building includes 6,000 square feet of vacant retail space and 3,000 square feet of vacant, move-in ready office space on the second story. A 4,000 square foot basement is currently used for storage, but it could be renovated for use by another tenant. The property is located along Philadelphia’s “Main Line” in a densely populated and affluent area. Within three miles of the property, there are 127,597 residents with an average household income of $220,000. Lower Merion Township has highly-rated schools, which contribute to lasting demand and growth in the area. The property is a quality construction brick building positioned along Lancaster Avenue.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rae & Co Hair Salon The Party Place Depot Party Supply Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ardmore
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.291575
    Latitude
    40.007859

    Nearby Similar for Sale

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      Retail or office space for lease in Ardmore, PA.
      22 E LANCASTER AVENUE, ARDMORE, PA 19003
      View Details
    • $650,000
      1,228 SF

      Prime Ardmore Location Opportunity

      Investment opportunity in a walkable, amenity-rich Ardmore neighborhood.
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      Prime Ardmore Commercial Property

      Charming commercial property in downtown Ardmore, ideal for various ventures.
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    FAQs

    What type of property is this?
    Retail space - 13,000 SF retail and office building in downtown Ardmore.
    Where is this retail space located?
    The property is located at 10 W Lancaster Ave Ardmore, PA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Prime location in the heart of downtown Ardmore, PA, along Philadelphia's Main Line.; Significant vacancy: **6,000 sq ft of retail space and 3,000 sq ft of turn‑key office space available.**; Located in a highly affluent submarket with an average household income of $220,000 within a 3‑mile radius.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jesse Dubrow
    Real Estate License ID: RS362355
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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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