Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    485/487/489 Devon Park Dr Wayne, PA 19087
    Property profile & analytics

    485/487/489 Devon Park Dr, Wayne, PA 19087

    View on Map
    • Office Spaces
    • 32,800 SF
    • 11.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 0 485/487/489 Devon Park Dr

    Year built
    1982
    Lot size
    11.70 lot acres
    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    The Meadows Office Campus, located at 485/487/489 Devon Park Dr, Wayne, PA 19087, offers a diverse range of office spaces for lease. This Class B property, situated on 11.7 acres of land and conveniently located near Route 202 and the King of Prussia Mall, comprises three single-story buildings totaling 32,800 square feet. Built in 1982 and renovated in 2019, the campus caters to various business needs, accommodating traditional, executive, medical, and creative office spaces. Units range from a minimum of 650 square feet to a maximum contiguous space of 3,627 square feet, making it suitable for businesses of all sizes. The property is zoned O and boasts ample parking with 404 spaces available. Property taxes are $1.97 per square foot. The campus currently houses over 50 businesses and offers easy access to dining, recreation, and essential business services. This thriving community provides an ideal location for businesses seeking a well-maintained, conveniently located, and versatile office space in Wayne, Pennsylvania. Multiple tenancy options are available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.4153
    Latitude
    40.0752

    Comparable in this City

    • Value Estimation by Request

      724 Lancaster Ave

      Office Units
      724 Lancaster Ave, Wayne, PA 19087
      View Details
    • Value Estimation by Request
      1.10 Acres

      237 Lancaster Ave

      Restaurants
      237 Lancaster Ave, Wayne, PA 19087
      View Details
    • Value Estimation by Request
      637 SF

      512 Lancaster Ave

      CONDOMINIUM OFFICES
      512 Lancaster Ave, Wayne, PA 19087-3122
      View Details
    • Value Estimation
      $3,870,000
      30,256 SF

      620 Lee Rd

      CONDOMINIUM OFFICES
      620 Lee Rd, Wayne, PA 19087-5650
      View Details
    • Value Estimation
      $13,540,000
      105,792 SF

      650 Swedesford Rd, Unit 1

      CONDOMINIUM OFFICES
      650 Swedesford Rd, Wayne, PA 19087-1610
      View Details
    • Value Estimation
      $710,000
      5,672 SF

      840 Swedesford Rd, Unit 1

      CONDOMINIUM OFFICES
      840 Swedesford Rd, Wayne, PA 19087-1634
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office Condo with Exterior Entry

      1,400 SF office condo with direct exterior entry.
      150 E Swedesford Rd, Wayne, PA 19087
      View Details
    • Contact for pricing
      Pending

      Mixed-Use Building Near Downtown Wayne

      Mixed-use building with commercial space and renovated apartments for sale.
      230 W Wayne Ave, Wayne, PA 19087
      View Details
    • Contact for pricing
      10,726 SF

      Chesterbrook Corporate Center Office Building

      Meticulously maintained office building in Chesterbrook Corporate Center.
      965 Chesterbrook Blvd, Chesterbrook, PA 19087
      View Details
    • $1,600,000

      Two-Story Office Building in Wayne

      7,600 SF office building on 0.47 acres in Wayne.
      418 E Lancaster Ave, Wayne, PA 19087
      View Details
    • Contact for pricing

      Single-User Office Building in Wayne

      5,775 SF office building with modern finishes and exposed brick.
      232 Conestoga Rd, Wayne, PA 19087
      View Details
    • Contact for pricing

      Retail Space in Downtown Wayne

      Prime retail space with storefront and storage in Wayne, PA.
      240 E Lancaster Ave, Wayne, PA 19087
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      20,000 SF

      Strafford Office Space: Prime Location

      Modern Office Suites Available, Chester County
      85 Old Eagle School Rd, Strafford, PA 19087
      View Details
    • Contact for pricing
      2,200 SF

      Wayne Office/Medical Space Available

      Two-story office/medical building with space for rent near Route 30.
      351 E Conestoga Rd, Wayne, PA 19087
      View Details
    • $46 SF/Yr
      11,388 SF

      Premier Radnor Office Space Available

      Newly renovated office space in a prime Main Line location.
      259 North Radnor Chester Rd, Wayne, PA 19087
      View Details
    • Contact for pricing
      13,710 SF

      Flexible Office and Coworking Space

      Flexible office and coworking space with many amenities available for rent.
      701 Lee Rd, Wayne, PA 19087
      View Details
    • Contact for pricing
      5,664 SF

      Wayne Office Space For Lease

      Office space available for lease in Chesterbrook/Glenhardie, Wayne, PA.
      620 Lee Rd, Wayne, PA 19087
      View Details
    • Contact for pricing
      3,050 SF

      Office Space with Direct Access

      Office space with convenient access and ample parking available.
      900 W Valley Rd, Wayne, PA 19087
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    485/487/489 Devon Park Dr
    Wayne, PA 19087
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    485/487/489 Devon Park Dr, Wayne, PA, 19087
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!