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Property profile & analytics
OFF-MARKET
Estimated value
$5,105,000
Assisted living facilities
1700 Pne St Norristown, PA 19401-3040
Entity Owned
9-yr Hold
Free & Clear
Property ID
US73-2948109
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1996
Total area
51,962 SF
Lot
1.6 ac (69,696 SF)
Zoning code
NOD
APN
13-00-21004-03-4
UPID
US73-2948109
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
-
Rittenhouse Pine Center: Strickland Jennifer S Physician
-
Sharon Porter, OT Physician
-
NORRITON SQUARE NURSING AND REHABILITATION CENTER Rehabilitation Center Hospice
-
Killgore Laurence L Church
-
Genesis Health Care Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.40M
Blend (final)
Blend
$5.11M
Owner & transaction history
Lg Ohi Norristown LP · 9 yrs held
Lg Ohi Norristown LP
since 2016
7 recorded transactions
Zoning & alternative use
NOD · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.2M
+20.4%
Apartment house (5+ units)
$7.5M
+10.2%
Restaurant
$7.3M
+7.3%
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 Norristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norristown 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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$6,800,000
Current use
MEDICAL BUILDING
$8,190,000
Change: +20% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,495,000
Change: +10% · Conversion: Difficult
RESTAURANT
$7,295,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,775,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$5.11M
Range $4.59M – $5.62M · ±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
$98 / 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
$191,477
Tax year 2023
Assessed value
$3,119,420
Assessed 2024
Previous assessed
$3,783,640
-17.6% YoY
Effective rate
6.14%
On assessed value
Total market value
$3,119,420
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
WINDOW A/C
Units
120
Total area
51,962 SF
Lot
1.6 ac (69,696 SF)
Zoning code
NOD
APN
13-00-21004-03-4
UPID
US73-2948109
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
NOD · Norristown, PA
Zoning NOD · permitted uses
NOD · Norristown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norristown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$8.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.5M
RESTAURANT
Est. value
$7.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1996
Heating
FORCED AIR
Cooling
Yes
Units
120
Lot
1.6 ac
Current owner
From public records · entity-resolved
Lg Ohi Norristown LP
Entity
Free & Clear · 9 yrs held
Mailing address
1218 BROADWAY, HEWLETT, NY 11557-2002
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2020
—
Lg-ohi Norristown LP
—
Deed
related
$233,561,136 · White Oak Healthcare Fin LLC
Oct 3, 2019
—
Lg-ohi Norristown LP
—
Grant Deed
related
$240,900,000 · White Oak Healthcare Fin LLC
Dec 7, 2016
—
Lg-ohi Norristown LP
—
Deed
related
$555,000,000 · Morgan Stanley Bk
Nov 17, 2016
$10,172,042
Lg Ohi Norristown LP
Geriatric And Medical Services INC
Deed
—
Jul 16, 2008
—
Geriatric & Medical Svcs INC
—
Deed Of Trust
related
$1,500,000,000 · General Electric Capital Corp
Jun 6, 2002
—
Nursing Norristown
—
Deed Of Trust
related
$515,000,000 · Wachovia Bank NA Trustee
—
—
Norristown Nursing Rehab Ctr
—
Deed Of Trust
related
$260,000,000 · Wachovia Bank NA
—
—
Lg-ohi Norristown LP
—
Loan Modification
related
$233,561,136 · White Oak Healthcare Fin LLC
—
—
Geriatric & Medical Svcs INC
—
Deed Of Trust
related
—
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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