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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1 Progress Dr Horsham, PA 19044

    • Office buildings
    • 80,086 SF
    • 11.63 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1667433
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Thomas Publishing Company / Publishing House

    Property Details for 1 Progress Dr

    Year built
    1988
    Lot size
    11.63 lot acres
    Property size
    80,086 SF
    Zone code
    I1
    Property type
    Office buildings
    APN
    36-00-09953-00-1
    APU
    360009953001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,032,000
      Market price range: $7.56M - $20.2M
      AI Estimate
      $5,477,000
      Market price range: $1.48M - $8.05M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $13,105,000
      Current use
      MEDICAL BUILDING
      $12,625,000
      Change: -4% Conversion: Easy
      RESTAURANT
      $11,240,000
      Change: -14% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $11,130,000
      Change: -15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Horsham
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.1601
    Latitude
    40.1938
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $156,701
    $0.00
    $0.00
    $3,986,500
    -
    $0.00
    $0.00
    $3,986,500

    Comparable in this City

    • Value Estimation
      $15,595,000
      109,039 SF

      700 Dresher Rd

      OFFICE BUILDING • 109,039 SF
      700 Dresher Rd, Horsham, PA 19044-2235
      View Details
    • Value Estimation
      $6,955,000
      50,478 SF

      185 Gibraltar Rd

      OFFICE BUILDING • 50,478 SF
      185 Gibraltar Rd, Horsham, PA 19044-2303
      View Details
    • Value Estimation by Request
      368,495 SF

      101 Tournament Dr

      OFFICE BUILDING • 368,495 SF
      101 Tournament Dr, Horsham, PA 19044-3603
      View Details
    • Value Estimation
      $21,105,000
      149,423 SF

      100 Witmer Rd

      OFFICE BUILDING • 149,423 SF
      100 Witmer Rd, Horsham, PA 19044-2251
      View Details
    • Value Estimation
      $3,135,000
      50,000 SF

      723 Dresher Rd

      OFFICE BUILDING • 50,000 SF
      723 Dresher Rd, Horsham, PA 19044-2205
      View Details
    • Value Estimation by Request
      2,552 SF

      280 Horsham Rd

      OFFICE BUILDING • 2,552 SF
      280 Horsham Rd, Horsham, PA 19044-2559
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      50,584 SF

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      9,500 SF retail space in amenity-rich location.
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      19,000 SF

      Prime Horsham Retail Redevelopment

      19,000 SF Storefront, High Traffic
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      View Details
    • $595,000
      3.12 Acres

      Horsham Land Parcel For Sale

      3.12 acre lot in Horsham, PA awaiting your dream home.
      631 Norristown Rd, Horsham, PA 19044
      View Details
    • $650,000
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      Horsham Retail Property: Prime Location

      High-traffic retail space, ample parking, great visibility.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      29,415 SF

      Class A Office Building

      Three-story office building in Horsham, PA, with updated lobby.
      2 Walnut Grove Dr, Horsham, PA 19044
      View Details
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      18,200 SF

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      Office building suitable for single tenant with ample parking.
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      Modern Office Building with Atrium

      Three-story office building with updated lobby and natural light.
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      9,011 SF

      Multi-Tenant Office Building For Rent

      Multi-tenant office building with modern amenities and convenient location.
      201 Gibraltar Rd, Horsham, PA 19044
      View Details
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      56,845 SF

      Prominent Office Building Near Turnpike

      Multi-tenant office building with high visibility and recent renovations.
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      View Details
    • Contact for pricing
      5,237 SF

      Multi-Tenant Office Building For Rent

      Multi-tenant office building with modern lobby and outdoor courtyard.
      110 Gibraltar Rd, Horsham, PA 19044
      View Details
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    1 Progress Dr
    Horsham, PA 19044
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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
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