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    1055 Westlakes Dr, Unit 3RD Berwyn, PA 19312

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    1055 Westlakes Dr, Unit 3RD Berwyn, PA 19312

    View on Map
    • Office buildings
    • 128,130 SF
    • 13.20 lot acres
    For Lease
    $22,935,000
    View Listing →
    Flexible Workspace Solutions Available For Lease
    $22,935,000

    Flexible Workspace Solutions Available

    Global network of workspaces with flexible terms and customizable options.

    1055 Westlakes Drive, 3rd Floor, Berwyn, PA 19312
    View Listing
    Property ID
    US73-2144649
    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

    • Law Offices of Leslie I. Snyder P.A. / Law Firm
    • Metka Law, LLC / Law Firm
    • Lauren Merclean MA, LCSW / Crisis Center / Medical Clinic
    • Stucco Inspection by Stucco Safe / Home Inspector / Stucco Contractor
    • VitalStrategic Research Institute / Research Institute

    Property Details for 1055 Westlakes Dr

    Year built
    1991
    Lot size
    13.20 lot acres
    Property size
    128,130 SF
    Zone code
    OA
    Property type
    Office buildings
    APN
    4310 00360000
    APU
    431000360000

    Description

    This Class A, 30,121 square foot office building in Berwyn, Pennsylvania, offers a variety of executive suites, coworking, and creative office spaces. Located at 1055 Westlakes Drive, 3rd Floor, 19312, this Chester County property underwent renovations in 2019 and features striking modern interiors with glass frontage, marble, and granite accents. The building boasts 350 total suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. Amenities include elevators, a comfortable business lounge, coffee machine, high-speed WiFi, and premium furniture. Various office options are available, ranging from fully furnished private offices for individuals or large companies to customized spaces, disaster recovery solutions, and day offices. A benefits program offering exclusive discounts and procurement support is also included. The building's convenient location provides easy access to numerous restaurants. This is an exceptional opportunity for businesses seeking a sophisticated and functional workspace in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $23,286,000
      Market price range: $16.2M - $34.7M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $23,820,000
      Current use
      COMMERCIAL (GENERAL)
      $29,235,000
      Change: +23% Conversion: Easy
      RESTAURANT
      $27,720,000
      Change: +16% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $27,375,000
      Change: +15% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $24,325,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Berwyn
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.4674
    Latitude
    40.0632
    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
    2024
    $324,620
    $876,000
    $8,340,000
    $9,216,000
    -
    $876,000
    $8,456,200
    $9,332,200

    Comparable in this City

    • Value Estimation
      $15,645,000
      66,618 SF

      1160 Swedesford Rd

      OFFICE BUILDING • 66,618 SF
      1160 Swedesford Rd, Berwyn, PA 19312-1076
      View Details
    • Value Estimation
      $40,420,000
      171,524 SF

      1000 Chesterbrook Blvd

      OFFICE BUILDING • 171,524 SF
      1000 Chesterbrook Blvd, Berwyn, PA 19312-1084
      View Details
    • Value Estimation
      $1,050,000
      4,138 SF

      1131 Lancaster Ave

      OFFICE BUILDING • 4,138 SF
      1131 Lancaster Ave, Berwyn, PA 19312-1243
      View Details
    • Value Estimation
      $8,985,000
      72,276 SF

      1001 Old Cassatt Rd

      OFFICE BUILDING • 72,276 SF
      1001 Old Cassatt Rd, Berwyn, PA 19312-1138
      View Details
    • Value Estimation
      $520,000
      4,125 SF

      1058 Lancaster Ave

      OFFICE BUILDING • 4,125 SF
      1058 Lancaster Ave, Berwyn, PA 19312-1844
      View Details
    • Value Estimation
      $820,000
      6,312 SF

      1189 Lancaster Ave

      OFFICE BUILDING • 6,312 SF
      1189 Lancaster Ave, Berwyn, PA 19312-1299
      View Details

    Similar Nearby for Sale

    • $1,300,000

      Turnkey Office Building on Lancaster

      Professional office building in Berwyn, PA, ideal for various firms.
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      0.07 Acres

      Berwyn Office Building For Lease

      Prime Berwyn location, 2910 sq ft office space.
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    • $3,500,000
      4.70 Acres

      4.7 Acres Land with Homes

      Land with two homes in Tredyffrin-Easttown School District.
      170 Old State Rd, Berwyn, PA 19312
      View Details
    • $1,999,000
      2.40 Acres

      Prime Land in Berwyn, PA

      2.4 acre corner property suitable for residential or commercial development.
      1250 Swedesford Rd, Berwyn, PA 19312
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      Retail Space Near King of Prussia

      Retail property with highway visibility, near King of Prussia Mall.
      402 W Swedesford Rd, Berwyn, PA 19312
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    Similar Nearby for Lease

    • Contact for pricing
      20,516 SF

      Class A Office Space Available

      Energy-efficient office space with on-site amenities in Berwyn, PA.
      1160 W Swedesford Rd, Berwyn, PA 19312
      View Details
    • Contact for pricing
      41,670 SF

      Office Space in Chesterbrook

      Office space for lease in Chesterbrook, Pennsylvania with ample parking.
      965 Chesterbrook Blvd, Berwyn, PA 19312
      View Details
    • Contact for pricing
      2,584 SF

      Berwyn Office Space for Rent

      Office space in a well-connected Berwyn location.
      1000 Westlakes Dr, Berwyn, PA 19312
      View Details
    • Contact for pricing
      2,070 SF

      Office Space on Lancaster Avenue

      Office space for lease with high visibility and ample parking.
      1301 Lancaster Ave, Berwyn, PA 19312
      View Details
    • Contact for pricing
      21,035 SF

      Class A Office Space Available

      Luxurious office park setting with convenient access to amenities.
      1180 W Swedesford Rd, Berwyn, PA 19312
      View Details
    • Contact for pricing
      2,358 SF

      Berwyn Office Space for Rent

      Office space in a well-connected Berwyn location.
      1205 Westlakes Dr, Berwyn, PA 19312
      View Details
    View Listing
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    1055 Westlakes Dr, Unit 3RD
    Berwyn, PA 19312
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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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    1055 Westlakes Dr, Berwyn, PA, 19312

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