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Property profile & analytics
OFF-MARKET
Estimated value
$2,870,000
Office Spaces
190 Germantown Pikea-2 Norristown, PA 19401-1385
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US73-5872054
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1995
Total area
18,675 SF
Lot
0.43 ac (18,675 SF)
Zoning code
BP
APN
33-00-03020-04-3
UPID
US73-5872054
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
$3.12M
Blend (final)
Blend
$2.87M
Owner & transaction history
Norriton Holdings LLC · 7 yrs held
Norriton Holdings LLC
since 2018
7 recorded transactions
Zoning & alternative use
BP · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,250,000
Current use
MEDICAL BUILDING
$2,945,000
Change: -9% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,695,000
Change: -17% · Conversion: Easy
RESTAURANT
$2,620,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$2.87M
Range $2.58M – $3.16M · ±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
$154 / 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
$67,102
Tax year 2023
Assessed value
$1,424,390
Assessed 2024
Previous assessed
$1,424,390
+0.0% YoY
Effective rate
4.71%
On assessed value
Total market value
$1,424,390
Applied tax rate
33.0000
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
1995
Heating
HEAT PUMP
Cooling
CENTRAL
Total area
18,675 SF
Lot
0.43 ac (18,675 SF)
Zoning code
BP
APN
33-00-03020-04-3
UPID
US73-5872054
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
BP · Norristown, PA
Zoning BP · permitted uses
BP · 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
OFFICE BUILDING Current
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
RESTAURANT
Est. value
$2.6M
OFFICE BUILDING Current
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
1995
Heating
HEAT PUMP
Cooling
Yes
Lot
0.43 ac
Current owner
From public records · entity-resolved
Norriton Holdings LLC
Entity
Mailing address
1541 E 29TH ST, BROOKLYN, NY 11229-1846
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2018
$12,850,000
Norriton Holdings LLC
Franklin Norriton Assocs LP
Trustees Deed
related
$8,700,000 · Argentic R/e Fin LLC
Mar 5, 2018
—
Franklin Norriton Associates L
—
Grant Deed
related
$10,500,000 · Wilmington Svg Fund Societyfsb
May 24, 2013
—
Franklin Norriton Assocs LP
—
Deed Of Trust
related
$4,500,000 · Bancorp Bank
Feb 28, 2013
—
Franklin Norriton Assocs LP
—
Deed Of Trust
related
$9,750,000 · Beneficial Mutual Savings
Jun 18, 2010
—
Franklin Norriton Assocs LP
—
Deed Of Trust
related
$4,500,000 · Bancorp Bank
Feb 2, 2007
$7,785,000
Franklin Norriton Assocs
Brandywine Norriton
Grant Deed
—
May 7, 1998
$7,742,000
Brandywine Norriton LP
Norriton Office Associates
Grant Deed
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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