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Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Office buildings
1805 Berks Rd Norristown, PA 19403
Entity Owned
25-yr Hold
Free & Clear
Property ID
US73-2618198
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2003
Total area
16,933 SF
Lot
30.85 ac (1,343,826 SF)
Zoning code
AGR
APN
67-00-03454-00-7
UPID
US73-2618198
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.22M
Blend (final)
Blend
$2.86M
Owner & transaction history
Myers Family Partnership · 25 yrs held
Myers Family Partnership
since 2001
2 recorded transactions
Zoning & alternative use
AGR · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.6M
+54.6%
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 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
OFFICE BUILDING
$2,950,000
Current use
RETAIL STORES
$4,560,000
Change: +55% · Conversion: Moderate
MEDICAL BUILDING
$2,670,000
Change: -9% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,445,000
Change: -17% · Conversion: Easy
RESTAURANT
$2,375,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±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
$169 / 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
$58,905
Tax year 2023
Assessed value
$1,555,130
Assessed 2024
Previous assessed
$1,555,130
+0.0% YoY
Effective rate
3.79%
On assessed value
Assessed land
$426,240
Assessed improvement
$1,128,890
Land market value
$426,240
Improvement market value
$1,128,890
Total market value
$1,555,130
Applied tax rate
67.0000
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 (MULTI-STORY)
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
6
Bathrooms
1
Total area
16,933 SF
Lot
30.85 ac (1,343,826 SF)
Zoning code
AGR
APN
67-00-03454-00-7
UPID
US73-2618198
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
AGR · Norristown, PAZoning AGR · permitted uses
AGR · Norristown, 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
OFFICE BUILDING Current
Est. value
$3.0M
RETAIL STORES
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
RESTAURANT
Est. value
$2.4M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2003
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
6
Bathrooms
1
Lot
30.85 ac
Current owner
From public records · entity-resolved
Myers Family Partnership
Entity
Free & Clear · 25 yrs held
Mailing address
PO BOX 98, WORCESTER, PA 19490-0098
Ownership since
2001
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
Jan 13, 2003
—
Myers Family Partnership II
—
Grant Deed
related
$6,000,000 · Wilmington Trust Co
Feb 8, 2001
$950,000
Myers Family Partnership
Bernice B Schwab Estate
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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