Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,950,000
Hotels
198 Precision Rd Horsham, PA 19044-1200
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US73-1275044
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1999
Total area
58,128 SF
Lot
4.01 ac (174,676 SF)
Zoning code
I2
APN
36-00-09872-10-9
UPID
US73-1275044
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
-
TownePlace Suites Philadelphia Horsham Hotel & Motel
-
198 Precision Drive Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$2.95M
Owner & transaction history
Tp Lodging LLC · 1 yrs held
Tp Lodging LLC
since 2025
7 recorded transactions
Zoning & alternative use
I2 · Horsham, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$4.9M
+10.5%
Medical building
$4.8M
+9.5%
Commercial (general)
$4.6M
+4.4%
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 Horsham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Horsham 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
HOTEL/MOTEL
$4,400,000
Current use
INDUSTRIAL (GENERAL)
$4,860,000
Change: +10% · Conversion: Difficult
MEDICAL BUILDING
$4,815,000
Change: +9% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,590,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$4,330,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$2.95M
Range $2.66M – $3.25M · ±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
$51 / 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
$73,741
Tax year 2023
Assessed value
$1,876,000
Assessed 2024
Previous assessed
$1,876,000
+0.0% YoY
Effective rate
3.93%
On assessed value
Total market value
$1,876,000
Applied tax rate
36.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Units
47
Total area
58,128 SF
Lot
4.01 ac (174,676 SF)
Zoning code
I2
APN
36-00-09872-10-9
UPID
US73-1275044
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
I2 · Horsham, PA
Zoning I2 · permitted uses
I2 · Horsham, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Horsham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$4.4M
INDUSTRIAL (GENERAL)
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$4.6M
OFFICE BUILDING
Est. value
$4.3M
HOTEL/MOTEL Current
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE 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
Units
47
Lot
4.01 ac
Current owner
From public records · entity-resolved
Tp Lodging LLC
Entity
Mailing address
545 E JOHN CARPENTER FWY STE #1400, IRVING, TX 75062-3933
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2025
—
Tp Lodging LLC
Grand Prix Horsham LLC
Special Warranty Deed
$5,000,000 · Utilities Employees Cu
Nov 25, 2019
—
Grand Prix Horsham LLC
—
Deed
related
$755,000,000 · Morgan Stanley Bk
May 18, 2017
—
Grand Prix Horsham LLC
—
Deed
related
—
Jun 19, 2014
—
Grand Prix Horsham LLC
—
Deed Of Trust
related
$635,000,000 · Jp Morgan Chase Bank NA
Nov 4, 2011
—
Grand Prix Horsham LLC
—
Deed Of Trust
related
$1,650,805,084 · Us Bank NA Series 2007-c6 (ce)
Jul 17, 2007
—
Grand Prix Horsham LLC
Innkeepers USA
Grant Deed
—
May 27, 1999
$419,690
Innkeepers USA LP
Brickstone Lodging LP
Grant Deed
—
Aug 10, 1998
—
Lodging LP 1 Brickstone
—
Deed Of Trust
related
$6,582,635 · Mellon Bank
Jul 28, 1998
$780,000
Lodging LP 1 Brickstone
Scheerer Bearing Corp
Grant Deed
—
Mar 18, 1997
$376,000
Scheerer Bearing Corp
Betzdearborn INC
Grant Deed
—
—
—
Grand Prix Horsham LLC
—
Deed Of Trust
related
$755,000,000 · Morgan Stanley Bk
—
—
Grand Prix Horsham LLC
—
Deed Of Trust
related
$575,000,000 · J P Morgan Chase Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 198 Precision Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
