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Property profile & analytics
OFF-MARKET
Estimated value
$1,455,000
Office buildings
1001 Cheltenham Ave Melrose Park, PA 19027-3299
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US73-2724013
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2002
Total area
10,341 SF
Lot
1.66 ac (72,514 SF)
Zoning code
RO
APN
31-00-19819-00-4
UPID
US73-2724013
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Elkins Abstract Inc Title Company
-
Chung's Insurance Agency - Alex Hyuk Chung Insurance Agency
-
OneMain Financial Loan Service
-
ABA Language Institute Language School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.31M
Blend (final)
Blend
$1.46M
Owner & transaction history
World Asian Investments Group · 28 yrs held
World Asian Investments Group
since 1998
4 recorded transactions
Zoning & alternative use
RO · Melrose Park, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melrose Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melrose Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,690,000
Current use
MEDICAL BUILDING
$1,630,000
Change: -4% · Conversion: Easy
RESTAURANT
$1,450,000
Change: -14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,435,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$141 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,477
Tax year 2023
Assessed value
$531,200
Assessed 2024
Previous assessed
$531,200
+0.0% YoY
Effective rate
6.68%
On assessed value
Total market value
$531,200
Applied tax rate
31.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2002
Heating
HEAT PUMP
Cooling
CENTRAL
Total area
10,341 SF
Lot
1.66 ac (72,514 SF)
Zoning code
RO
APN
31-00-19819-00-4
UPID
US73-2724013
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
RO · Melrose Park, PAZoning RO · permitted uses
RO · Melrose Park, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
RESTAURANT
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Heating
HEAT PUMP
Cooling
Yes
Lot
1.66 ac
Current owner
From public records · entity-resolved
World Asian Investments Group
Entity
Mailing address
1001 W CHELTENHAM AVE STE #101, MELROSE PARK, PA 19027-3287
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 1998
$150,000
World Asian Investments Group
Goodman,faye
Grant Deed
—
—
—
World Asian Investment Group
—
Deed Of Trust
related
$495,000 · National Penn Bank
—
—
World Asian Internl INC
—
Deed Of Trust
related
$495,000 · Panasia Bk NA
—
—
World Asian Inv Group
—
Deed Of Trust
related
$92,000 · Woori America Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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