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    10 Town Center Dr Collegeville, PA 19426

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    For Lease
    Contact for pricing

    Collegeville, PA: High-traffic retail center

    Lot size:
    759,945 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    413
    Providence Town Center, located at 10 Town Center Dr, Collegeville, PA 19426, offers exceptional retail opportunities in a thriving Montgomery County location. This 759,945 square foot, Wegmans-anchored shopping center boasts a strong tenant lineup including Best Buy, Dick's Sporting Goods, LA Fitness, Movie Tavern, HomeGoods, Old Navy, Michaels, and a soon-to-open World Market. With 3,710 parking spaces and an 81.88-acre lot, the center enjoys high visibility and accessibility. Currently, there are 27,574 square feet of vacant space available, divisible into units ranging from 1,398 to 8,000 contiguous square feet. Built in 2008, the center benefits from strong demographics, including 44,855 people within a 3-mile radius and an average household income of $147,476. The center's proximity to approximately 1.6 million square feet of office space further enhances its daytime population. As the 4th most visited open-air retail center in Pennsylvania (out of 1,178 centers), with an estimated 7.9 million annual visitors, Providence Town Center presents a unique investment opportunity in a high-demand market. The center's anchor tenant, Wegmans, occupies 133,589 square feet and ranks #6 in Pennsylvania for total consumer visits among all grocery stores. Five total suites are available within the center.

    Property Features for 10 Town Center Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    759,945 SF

    Building Details

    Year Built
    2008

    Unit(s) available at that property

    Space
    MK171-07
    Size
    1,398 SF
    Space
    PL220-15
    Size
    7,717 SF
    Space
    TC060-20
    Size
    8,000 SF
    Space
    MK099-15b
    Size
    4,551 SF
    Space
    MK171-06
    Size
    2,271 SF
    Space
    Suite MK161-08
    Size
    3,637 SF

    We can help!

    Listing Contact
    Dina Berlin-Blackstone

    Learn more

    HighLights

    • For Lease in Montgomery County, PA.
    • 759,945 SF retail center anchored by Wegmans.
    • 27,574 SF of available space, divisible to 1,398 - 8,000 SF.
    • 81.88‑acre site with 3,710 parking spaces, built in 2008.
    • Strong demographics: 44,855 residents within 3 miles, average household income $147,476.
    Property Profile Location Intelligence

    Current Use by Public Records

    P.F. Chang's Chinese Restaurant Providence Town Center Shopping Mall

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Collegeville
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.4777667
    Latitude
    40.1643217

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    FAQs

    What type of property is this?
    Retail property - Collegeville, PA: High-traffic retail center
    Where is this retail property located?
    The property is located at 10 Town Center Dr Collegeville, PA.
    What are key features of this property?
    This property features: For Lease in Montgomery County, PA.; 759,945 SF retail center anchored by Wegmans.; 27,574 SF of available space, divisible to 1,398 - 8,000 SF.
    Request Owner's contact information
    10 Town Center Dr Collegeville, PA 19426
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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.

    More about this property
    10 Town Center Dr Collegeville, PA 19426
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    We can help!
    Listing Contact
    Dina Berlin-Blackstone
    Real Estate License ID: NY
    Learn more
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