Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11 Airy St Norristown, PA 19401-4815

    • Investment properties
    • 6,423 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $192,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0962467
    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

    • Ryan Brown Berger & Gibbons PC / Attorney
    • Britt Hankins Muoghan / Attorney
    • McTighe, Weiss & O'Rourke, PC / Legal Services
    • Walker Agency / Insurance Agency

    Property Details for 11 Airy St

    Year built
    1880
    Lot size
    0.09 lot acres
    Property size
    6,423 SF
    Zone code
    TC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    13-00-00228-00-2
    APU
    130000228002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3429
    Latitude
    40.1161
    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
    $10,410
    $48,100
    $121,500
    $169,600
    -
    $48,100
    $121,500
    $169,600

    Comparable in this City

    • Value Estimation by Request
      7,053 SF

      1547 Dekalb St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,053 SF
      1547 Dekalb St, Norristown, PA 19401-3421
      View Details
    • Value Estimation by Request
      9,000 SF

      9 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 9,000 SF
      9 Main St, Norristown, PA 19401-4740
      View Details
    • Value Estimation by Request
      3,198 SF

      101 Stanbridge St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,198 SF
      101 Stanbridge St, Norristown, PA 19401-4431
      View Details
    • Value Estimation by Request
      2,868 SF

      1350 Willow St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,868 SF
      1350 Willow St, Norristown, PA 19401-3328
      View Details
    • Value Estimation by Request
      5,661 SF

      627 Arch St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,661 SF
      627 Arch St, Norristown, PA 19401-4028
      View Details
    • Value Estimation by Request
      3,942 SF

      603 Cherry St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,942 SF
      603 Cherry St, Norristown, PA 19401-3921
      View Details

    Similar Nearby for Sale

    • $539,900
      0.08 Acres

      this location simply cannot be beat with One Montgomery Plaza and the Montgomery County Courthouse just steps away! As you enter through the front door

      you'll quickly recognize the building's unique character and impressive ceiling height- which effortlessly join to replicate the feel of a \""big city\"" atmosphere. The 1st floor features a greeting and waiting area
      509 Swede St, Norristown, PA 19401
      View Details
    • Contact for pricing
      5,000 SF

      Norristown Mixed-Use Warehouse

      Historic Warehouse & Mansion, Redevelopment Opportunity
      620-624 Main St, Norristown, PA 19401
      View Details
    • $650,000
      8,489 SF

      Norristown Industrial Property

      8,489 SF Manufacturing/Warehouse
      321 Poplar St, Norristown, PA 19401
      View Details
    • $400,000
      3,352 SF

      Norristown Triplex Renovation Opportunity

      Triplex in Norristown, PA, needing total renovation. Development potential.
      1009 Dekalb St, Norristown, PA 19401
      View Details
    • $483,500
      2,410 SF

      Spacious Townhome Near Philadelphia

      Large end-unit townhome with modern amenities and convenient location.
      1801 Arch St, Norristown, PA 19401
      View Details
    • New
      $259,900
      1,440 SF

      Updated Duplex in Norristown

      Well-maintained duplex with separate utilities, ideal for investors.
      516 Kohn St, Norristown, PA 19401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,825 SF

      Northtowne Plaza: Retail Space Available

      Prime Retail Space, East Norriton, PA
      2842 Dekalb Pike, East Norriton, PA 19401
      View Details
    • $26 SF/Yr
      4,734 SF

      Class A Medical Office Space

      Medical and office space for lease with abundant parking.
      160 W Germantown Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      2,790 SF

      Retail Space on Main Street

      Retail space with high visibility and foot traffic available for lease.
      215 W Main St, Norristown, PA 19401
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Germantown Pike

      Retail opportunity with strong demographics and traffic counts.
      113 W Germantown Pike, Norristown, PA 19401
      View Details
    • $1,395 /Mo
      436 SF

      Turnkey Commercial Space in Norristown

      Revitalized commercial property ideal for retail, office, or financial services.
      524 Dekalb St, Norristown, PA 19401
      View Details
    • Contact for pricing
      54,380 SF

      Hillcrest Plaza: Medical Office Space

      Prime East Norriton Medical Office Suites
      126 Germantown Pike, East Norriton, PA 19401
      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.
    11 Airy St
    Norristown, PA 19401-4815
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.