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Property profile & analytics
OFF-MARKET
Estimated value
$63,730,000
Office buildings
1170 Devon Park Dr 1190, Wayne, PA 19087-2128
Entity Owned
Absentee Owner
Free & Clear
Property ID
US73-2885298
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Total area
260,938 SF
Lot
9.81 ac (427,324 SF)
Zoning code
SM1
APN
58-00-06426-00-5
UPID
US73-2885298
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
-
Apogee Insurance Group Insurance Agency
-
Generocity Organizaiton Social Service Agency Charitable Organization
-
Devon Park Specialty Insurance Insurance Agency
-
Shockley Mark Insurance Agency
-
DrugDev Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$58.26M
Blend (final)
Blend
$63.73M
Owner & transaction history
Devon Park Propco LLC
Devon Park Propco LLC
since 2025
Last sale
$66.5M
2 recorded transactions
Zoning & alternative use
SM1 · Wayne, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$77.1M
+40.5%
Retail stores
$70.3M
+28.0%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$54,905,000
Current use
AUTO REPAIR, GARAGE
$77,125,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$70,265,000
Change: +28% · Conversion: Moderate
COMMERCIAL (GENERAL)
$46,730,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$63.73M
Range $57.36M – $70.10M · ±10% · vs last sale $66.46M (May 12 2025)
Last sale anchor
$66.46M
May 12 2025
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
$244 / 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
$895,648
Tax year 2023
Assessed value
$29,062,520
Assessed 2024
Previous assessed
$29,062,520
+0.0% YoY
Effective rate
3.08%
On assessed value
Total market value
$29,062,520
Applied tax rate
58.0000
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
1982
Heating
FORCED AIR
Cooling
CENTRAL
Total area
260,938 SF
Lot
9.81 ac (427,324 SF)
Zoning code
SM1
APN
58-00-06426-00-5
UPID
US73-2885298
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
SM1 · Wayne, PA
Zoning SM1 · permitted uses
SM1 · Wayne, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$54.9M
AUTO REPAIR, GARAGE
Est. value
$77.1M
RETAIL STORES
Est. value
$70.3M
COMMERCIAL (GENERAL)
Est. value
$46.7M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1982
Heating
FORCED AIR
Cooling
Yes
Lot
9.81 ac
Current owner
From public records · entity-resolved
Devon Park Propco LLC
Entity
Free & Clear · 0 yrs held
Mailing address
610 FREEDOM BUSINESS CTR DR STE #310, KING OF PRUSSIA, PA 19406-1329
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2025
$66,463,852
Devon Park Propco LLC
Devon Park Cc Partners LP
Special Warranty Deed
—
Jul 31, 2015
$63,500,000
Devon Park Cc Partners LP
Liberty Property LP
Grant Deed
$47,250,000 · Cantor Com'l R/e Lndg
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.
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