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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Office Spaces
1224 Welsh Rd 3 North Wales, PA 19454-2067
Entity Owned
10-yr Hold
Free & Clear
Property ID
US73-3041890
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1999
Total area
2,640 SF
Lot
0.06 ac (2,720 SF)
Zoning code
C
APN
46-00-04153-03-1
UPID
US73-3041890
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
-
Santander Bank ATM Atm
-
Santander Bank Branch Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$680k
Comparable Approach
Comparable
$665k
Blend (final)
Blend
$680k
Owner & transaction history
Bell Run Bank LP · 10 yrs held
Bell Run Bank LP
since 2016
1 recorded transaction
Zoning & alternative use
C · North Wales, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$780,000
+80.6%
Retail stores
$710,000
+64.6%
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 North Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Wales 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%
$740,000
6.5%
$680,000
7%
$630,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$430,000
Current use
AUTO REPAIR, GARAGE
$780,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$710,000
Change: +65% · Conversion: Moderate
MEDICAL BUILDING
$415,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$258 / 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
$14,741
Tax year 2023
Assessed value
$395,160
Assessed 2024
Previous assessed
$395,160
+0.0% YoY
Effective rate
3.73%
On assessed value
Assessed land
$60,420
Assessed improvement
$334,740
Land market value
$60,420
Improvement market value
$334,740
Total market value
$395,160
Applied tax rate
46.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Total area
2,640 SF
Lot
0.06 ac (2,720 SF)
Zoning code
C
APN
46-00-04153-03-1
UPID
US73-3041890
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
C · North Wales, PA
Zoning C · permitted uses
C · North Wales, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$430,000
AUTO REPAIR, GARAGE
Est. value
$780,000
RETAIL STORES
Est. value
$710,000
MEDICAL BUILDING
Est. value
$415,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1999
Heating
FORCED AIR
Cooling
Yes
Lot
0.06 ac
Current owner
From public records · entity-resolved
Bell Run Bank LP
Entity
Free & Clear · 10 yrs held
Mailing address
2 WILLIAM T MORRISSEY BLVD, DORCHESTER, MA 02125-3312
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2016
$52,505
Bell Run Bank LP
Highland Dev Group Ltd
Grant Deed
—
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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