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    1 Progress Dr Horsham, PA 19044
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    Property profile & analytics

    1 Progress Dr, Horsham, PA 19044

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    • Office buildings
    • 80,086 SF
    • 11.63 lot acres
    For Lease
    $8,755,000
    View Listing →
    Horsham Office Space Available For Lease
    $8,755,000
    31,976 SF

    Horsham Office Space Available

    31,976 SF office space for lease until July 2026.

    1 Progress Dr, Horsham, PA
    View Listing
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    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
    Zone code
    I1
    Property type
    Office buildings
    APN
    36-00-09953-00-1
    APU
    360009953001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 29, 2025 $4,640,000 1 Progress Horsham LLC Pfi Vpn Portfolio Fee Owner LLC Special Warranty Deed $7.5M · Wilmington Savings Fund Society Fsb
    Aug 6, 2018 — Map Ground Lease Owner LLC — Grant Deed · related $370M · Bank Of America
    Sep 15, 2017 $3,193,821 Pfi Vpn Portfolio Fee Owner Ll Map Fee Owner LLC Grant Deed —
    Feb 11, 2016 $2,607,365 Map Fee Owner LLC Lc/n Horsham LP Grant Deed $175.8M · Cantor Com'l R/e Lndg
    — — Norham LP — Deed Of Trust · related $80k · Nationsbank

    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 estimation — 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
      700 Dresher Rd, Horsham, PA 19044-2235
      View Details
    • Value Estimation
      $6,955,000
      50,478 SF

      185 Gibraltar Rd

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

      101 Tournament Dr

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

      100 Witmer Rd

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

      723 Dresher Rd

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

      280 Horsham Rd

      OFFICE BUILDING
      280 Horsham Rd, Horsham, PA 19044-2559
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      51,000 SF

      Two-Story Office Building Available

      51,000± SF office building, ready for immediate occupancy.
      255 Business Center Dr, Horsham, PA 19044
      View Details
    • Contact for pricing
      20,500 SF

      Fully Leased Office Building

      Well-located, fully leased office building in established business center.
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      8,000 SF

      Restaurant Property on Heavily Trafficked Road

      Freestanding restaurant with outdoor seating on a high-traffic corner.
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      19,000 SF

      Retail Space on Easton Road

      9,500 SF retail space in amenity-rich location.
      490 Easton Rd, Horsham, PA 19044
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      Pending

      Horsham Commercial Land For Sale

      1.05-acre commercial land with high traffic exposure.
      104 Horsham Rd, Horsham, PA 19044
      View Details
    • $650,000
      0.40 Acres

      Commercial Property on Easton Road

      Commercial retail property in high-traffic area with parking.
      296 Easton Rd, Horsham, PA 19044
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,200 SF

      Office Space with Lab Potential

      Office building suitable for single tenant with ample parking.
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      View Details
    • Contact for pricing
      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
    • Contact for pricing
      56,845 SF

      Prominent Office Building Near Turnpike

      Multi-tenant office building with high visibility and recent renovations.
      101 Gibraltar Rd, Horsham, PA 19044
      View Details
    • Contact for pricing
      8,658 SF

      Modern Office Building with Atrium

      Three-story office building with updated lobby and natural light.
      5 Walnut Grove Dr, Horsham, PA 19044
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      22,761 SF

      Business Center Drive Office Space

      Office space available for lease in Horsham, Pennsylvania.
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    • Contact for pricing
      2,301 SF

      Class A Office Building

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