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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Sports & entertainment properties
1201 Adler Dr Morrisville, PA 19067-5101
Entity Owned
19-yr Hold
Free & Clear
Property ID
US73-5763767
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
2000
Total area
4,664 SF
Lot
93.11 ac (4,055,872 SF)
Zoning code
MHP
APN
13-047-030
UPID
US73-5763767
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$885k
Owner & transaction history
Pennwood Management LLC · 19 yrs held
Pennwood Management LLC
since 2006
7 recorded transactions
Zoning & alternative use
MHP · Morrisville, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+57.6%
Commercial (general)
$755,000
+18.6%
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 Morrisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morrisville 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
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$635,000
Current use
OFFICE BUILDING
$1,000,000
Change: +58% · Conversion: Difficult
COMMERCIAL (GENERAL)
$755,000
Change: +19% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$885k
Range $797k – $974k · ±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
$190 / 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
$600,570
Tax year 2024
Assessed value
$2,696,720
Assessed 2024
Previous assessed
$2,696,720
+0.0% YoY
Effective rate
22.27%
On assessed value
Assessed land
$2,628,880
Assessed improvement
$67,840
Land market value
$36,011,896
Improvement market value
$929,311
Total market value
$36,941,207
Applied tax rate
13.0000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
2000
Heating
CENTRAL
Cooling
YES
Stories
1
Total area
4,664 SF
Lot
93.11 ac (4,055,872 SF)
Zoning code
MHP
APN
13-047-030
UPID
US73-5763767
Jurisdiction
BUCKS
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
MHP · Morrisville, PAZoning MHP · permitted uses
MHP · Morrisville, 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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$635,000
OFFICE BUILDING
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$755,000
MEDICAL BUILDING
Est. value
$605,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2000
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
93.11 ac
Current owner
From public records · entity-resolved
Pennwood Management LLC
Entity
Free & Clear · 19 yrs held
Mailing address
PO BOX 677, MORGANTOWN, PA 19543-0677
Ownership since
2006
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
May 18, 2020
—
Pennwood Management LLC
—
Deed
related
$43,663,832 · Miscellaneous Ins Co
Sep 16, 2016
—
Pennwood Management LLC
—
Deed
related
$48,000,000 · Miscellaneous Ins Co
Nov 9, 2006
$66,513,600
Pennwood Management LLC
Pennwood Associates
Grant Deed
—
Nov 8, 2006
$16,768,110
Norbert A Zuckerman
Pennwood Associates
Grant Deed
—
—
—
Pennwood Management LLC
—
Loan Modification
related
$18,193,263 · Miscellaneous Ins Co
—
—
Pennwood Management LLC
—
Loan Modification
related
$43,663,832 · Miscellaneous Ins Co
—
—
Pennwood Management LLC
—
Deed Of Trust
related
$48,000,000 · Miscellaneous Ins Co
—
—
Pennwood Management LLC
—
Deed Of Trust
related
$48,000,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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