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    Property profile & analytics

    1970 Broad St Lansdale, PA 19446-1002

    • Medical offices
    • 9,520 SF
    • 1.55 lot acres
    OFF-MARKET
    Last Sale
    Sep 19, 2024
    $2,600,000
    Value Estimations
    $2,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5824753
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Labcorp / Medical Laboratory / Blood Testing Service
    • Maureen Gardo / Nurse Practitioner
    • Dr. Ryan Weaver / Chiropractor
    • Morgan Leh / Practitioner Service Location / Medical Clinic
    • Wilma Santiago / Medical Clinic / General Practitioner

    Property Details for 1970 Broad St

    Year built
    1982
    Lot size
    1.55 lot acres
    Property size
    9,520 SF
    Zone code
    C
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    35-00-00973-00-9
    APU
    350000973009

    Description

    This exceptional 12,000 square foot medical office building presents a compelling value-add investment opportunity in Lansdale, Pennsylvania. Located at 1970 N Broad St, this property boasts a prime location in Montgomery County, situated on a 1.54-acre lot. The building, constructed in 1982 and recently renovated, is currently 98% occupied by two high-credit tenants: Penn Medicine and LabCorp, providing a strong corporate guarantee. The current lease structure is a triple net (NNN) lease with annual rent bumps of 3%, ensuring consistent income growth. The asking price is $2,640,000, translating to a price per square foot of $220. The property generates a substantial net operating income (NOI) of $228,218, resulting in an attractive cap rate of 8.64%. This presents a rare opportunity to acquire a stable, high-performing asset with significant upside potential in a desirable medical market. The property's strong tenancy, recent renovations, and favorable lease terms make it an ideal investment for both seasoned and emerging investors seeking a secure and profitable addition to their portfolio. The location offers excellent visibility and accessibility, further enhancing its investment appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,295,000
      6.5%
      $2,115,000
      7%
      $1,965,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,905,000
      Market price range: $683k - $1.91M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,500,000
      Current use
      AUTO REPAIR, GARAGE
      $2,815,000
      Change: +88% Conversion: Difficult
      RETAIL STORES
      $2,565,000
      Change: +71% Conversion: Difficult
      OFFICE BUILDING
      $1,560,000
      Change: +4% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lansdale
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.2645
    Latitude
    40.2599
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,798
    $290,650
    $678,430
    $969,080
    -
    $290,650
    $678,430
    $969,080

    Comparable in this City

    • Value Estimation
      $2,085,000
      8,157 SF

      2010 Broad St

      MEDICAL BUILDING • 8,157 SF
      2010 Broad St, Lansdale, PA 19446-1004
      View Details
    • Value Estimation
      $760,000
      6,478 SF

      902 Broad St

      MEDICAL BUILDING • 6,478 SF
      902 Broad St, Lansdale, PA 19446-2323
      View Details
    • Value Estimation
      $1,320,000
      12,226 SF

      1117 Broad St

      MEDICAL BUILDING • 12,226 SF
      1117 Broad St, Lansdale, PA 19446-5340
      View Details
    • Value Estimation
      $555,000
      5,040 SF

      2032 Broad St

      MEDICAL BUILDING • 5,040 SF
      2032 Broad St, Lansdale, PA 19446-1051
      View Details
    • Value Estimation by Request
      3,840 SF

      2120 Broad St

      MEDICAL BUILDING • 3,840 SF
      2120 Broad St, Lansdale, PA 19446-1055
      View Details
    • Value Estimation
      $4,050,000
      64,257 SF

      1001 Broad St

      MEDICAL BUILDING • 64,257 SF
      1001 Broad St, Lansdale, PA 19446-5338
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,852 SF

      Lansdale Medical Office Building

      9,852 SF Medical Office in Lansdale, PA
      400 Broad St, Lansdale, PA 19446
      View Details
    • $750,000

      Prime Land in Lansdale, PA

      2.12 acres in BP District, ideal for diverse businesses.
      0000 S Broad St, Lansdale, PA 19446
      View Details
    • New
      $1,500,000
      18,300 SF

      Mixed-Use Industrial Building in Lansdale

      Mixed-use industrial building with eight units and flexible options.
      100 Penn St, Lansdale, PA 19446
      View Details
    • $399,900

      Renovated Office Space For Sale

      Newly renovated office building with high visibility and immediate occupancy.
      1921 S Valley Forge Rd, Lansdale, PA 19446
      View Details
    • $399,900
      0.40 Acres

      LANSDALE Office Space For Sale

      Newly renovated office building in Worcester Twp with high visibility.
      1921 Valley Forge Rd, Lansdale, PA 19446
      View Details
    • Contact for pricing
      4.95 Acres

      Lansdale Retail Space - Prime Location

      High-traffic retail space near major employers.
      850 Valley Forge Rd, Lansdale, PA 19446
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,108 SF

      Medical Office Space For Lease

      7,108 SF medical office space available for lease.
      909 Sumneytown Pike, Lansdale, PA 19446
      View Details
    • $9 SF/Yr
      3,235 SF

      Lansdale Office Space Available

      Flexible office solutions in Montgomery County.
      1690 Sumneytown Pike, Lansdale, PA 19446
      View Details
    • Contact for pricing
      9,000 SF

      Medical Office Building For Lease

      Two-story medical office building with covered parking available for lease.
      1240 S Broad St, Lansdale, PA 19446
      View Details
    • $8 SF/Yr
      10,000 SF

      Lansdale Office Space: Prime Location

      Flexible Office Suites in Suburban Philadelphia
      707 Valley Forge Rd, Lansdale, PA 19446
      View Details
    • $525 /Mo
      28,750 SF

      Lansdale Office Space For Lease

      Prime office space in Lansdale with shared amenities and parking.
      1411 Welsh Rd, Lansdale, PA 19446
      View Details
    • Contact for pricing
      2,673 SF

      Lansdale Office/Industrial Space for Lease

      Single-story office/industrial space with heavy power and rail access.
      1000 N Cannon Ave, Lansdale, PA 19446
      View Details
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    Lansdale, PA 19446-1002
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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