Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,860,000
Office buildings
116 Market St West Chester, PA 19382-2916
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-0941062
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
20,568 SF
Lot
0.33 ac (14,221 SF)
Zoning code
TC
APN
0109 02230000
UPID
US73-0941062
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
-
ATM (Fulton Bank) Atm
-
Fulton Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.31M
Comparable Approach
Comparable
$4.62M
Blend (final)
Blend
$4.86M
Owner & transaction history
Wood Family Market Street LLC · 3 yrs held
Wood Family Market Street LLC
since 2023
7 recorded transactions
Zoning & alternative use
TC · West Chester, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
-304 Permitted uses. § 112-305 General design standards. § 112-306 NC-1 Neighborhood Conservation District. § 112-307 NC-2 Neighborhood Conservation District. § 112-308 NC-3 Neighborhood Conservation District. § 112-309 TC Town Center District. § 112-310 CS Commercial Service District. § 112-311 ID Industrial District. § 112-312 IS Institutional District. §…
Zone name
Town Center
General category
COMMERCIAL
Zone area
100.68 ac
Top alternative use upside
Auto repair, garage
$6.9M
+17.4%
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 West Chester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Chester 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%
$5,750,000
6.5%
$5,305,000
7%
$4,925,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,840,000
Current use
AUTO REPAIR, GARAGE
$6,860,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,715,000
Change: -2% · Conversion: Easy
RESTAURANT
$5,585,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$4.86M
Range $4.37M – $5.35M · ±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
$236 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$83,500
Tax year 2024
Assessed value
$2,380,440
Assessed 2024
Previous assessed
$2,380,440
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$102,930
Assessed improvement
$2,277,510
Land market value
$102,930
Improvement market value
$2,285,650
Total market value
$2,388,580
Applied tax rate
1.0000
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
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Total area
20,568 SF
Lot
0.33 ac (14,221 SF)
Zoning code
TC
APN
0109 02230000
UPID
US73-0941062
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
TC · West Chester, PAZoning TC · permitted uses
TC · West Chester, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
-304 Permitted uses. § 112-305 General design standards. § 112-306 NC-1 Neighborhood Conservation District. § 112-307 NC-2 Neighborhood Conservation District. § 112-308 NC-3 Neighborhood Conservation District. § 112-309 TC Town Center District. § 112-310 CS Commercial Service District. § 112-311 ID Industrial District. § 112-312 IS Institutional District. § 112-313 MU Mixed-Use District. § 112-314 Planned University Campus District. Artic
Zone name
Town Center
General category
COMMERCIAL
Zone area
100.68 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$6.9M
COMMERCIAL (GENERAL)
Est. value
$5.7M
RESTAURANT
Est. value
$5.6M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
2006
Heating
FORCED AIR
Cooling
Yes
Buildings
3
Lot
0.33 ac
Current owner
From public records · entity-resolved
Wood Family Market Street LLC
Entity
Mailing address
120 W MARKET ST, WEST CHESTER, PA 19382-2928
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2023
—
Wood Family Market Street LLC
Richard C Mercner & William Wood II
Deed
$822,000 · Fulton Bank NA
Jun 7, 2005
—
Richard G Mercner
—
Deed Of Trust
related
$3,500,000 · Fulton Bank
—
—
Richard G Mercner
—
Deed Of Trust
related
$50,000 · Fulton Bank
—
—
Richard G|wood William S Mercner II
—
Deed Of Trust
related
$650,000 · Fulton Bk
—
—
Richard G Mercner
—
Deed Of Trust
related
$300,000 · Fulton Bank
—
—
Mercner,richard G
—
Loan Modification
related
$50,000 · Fulton Bk
—
—
Richard G Mercner
—
Deed Of Trust
related
$3,475,000 · Fulton Bank
—
—
Richard G Mercner
—
Deed Of Trust
related
$50,000 · First National Bank Chester
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 116 Market St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
