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    20 Lancaster Ave Devon, PA 19333-1305
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    Property profile & analytics

    20 Lancaster Ave, Devon, PA 19333-1305

    View on Map
    • Auto shops
    • 64,676 SF
    • 5.16 lot acres
    Off-Market
    Last Sale Jul 12, 2024
    $22,000,000
    Property ID
    US73-0421213
    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.
    Value Estimations
    $22,000,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • BMW of Devon Service Center / Auto Repair Shop
    • BMW of Devon Parts Store / Auto Parts Store
    • BMW of Devon / Car Dealership / Auto Repair Shop

    Property Details for 20 Lancaster Ave

    Year built
    1945
    Lot size
    5.16 lot acres
    Zone code
    C1
    Property type
    Auto shops
    APN
    4311F02380000
    APU
    4311F02380000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 12, 2024 $22,000,000 Spruce Devon LLC Dhm Realty INC Special Warranty Deed $18.6M · Pnc Bank NA
    Nov 28, 2023 — Dhm Realty INC — Deed · related $2.1M · 2ee LLC
    Aug 9, 2023 — Dhm Realty INC — Deed · related $650k · Kenneth Rutt
    May 9, 2023 — Dhm Realty INC — Deed · related $363k · Bluebird Lending LLC
    Oct 15, 2020 — Dhm Realty INC — Deed · related $1.2M · Centric Bk NA
    Sep 23, 2016 — Dhm Realty INC Dhm Realty INC Intrafamily Transfer · related —
    Jun 24, 2014 — Dhm Realty INC — Grant Deed · related $9.8M · Wells Fargo Bk
    Apr 2, 2007 — Dhm Realty INC Dhm Rlty INC Quit Claim Deed · related —
    — — Dhm Realty INC — Deed Of Trust · related $7M · Bmw Financial Services NA LLC
    — — Dhm Realty INC — Deed Of Trust · related $30M · Sovereign Bank
    — — Dhm Realty INC — Deed Of Trust · related $1.2M · Centric Bk NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $22,000,000
      ML approach
      $22,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,217,000
      Market price range: $6.85M - $21.2M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $13,820,000
      Current use
      COMMERCIAL (GENERAL)
      $14,755,000
      Change: +7% Conversion: Moderate
      RESTAURANT
      $13,990,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Devon
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.4161
    Latitude
    40.0477
    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
    2024
    $300,135
    $1,291,820
    $7,229,060
    $8,520,880
    -
    $1,291,820
    $7,272,810
    $8,564,630

    Comparable in this City

    • Value Estimation
      $4,700,000
      22,662 SF

      119 Lancaster Ave

      AUTO REPAIR, GARAGE
      119 Lancaster Ave, Devon, PA 19333-1503
      View Details
    • Value Estimation by Request
      4,390 SF

      215 Lancaster Ave

      AUTO REPAIR, GARAGE
      215 Lancaster Ave, Devon, PA 19333-1505
      View Details
    • Value Estimation
      $6,355,000
      15,942 SF

      459 Lancaster Ave

      AUTO REPAIR, GARAGE
      459 Lancaster Ave, Devon, PA 19333-1509
      View Details
    • Value Estimation
      $2,010,000
      18,715 SF

      470 Lancaster Ave

      AUTO REPAIR, GARAGE
      470 Lancaster Ave, Devon, PA 19333-1510
      View Details
    • Value Estimation
      $5,365,000
      32,279 SF

      214 Lancaster Ave

      AUTO REPAIR, GARAGE
      214 Lancaster Ave, Devon, PA 19333-1506
      View Details
    • Value Estimation
      $3,150,000
      19,739 SF

      315 Lancaster Ave

      AUTO REPAIR, GARAGE
      315 Lancaster Ave, Devon, PA 19333-1507
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 10,000 square feet.
      840 Lancaster Ave, Devon, PA 19333
      View Details
    • Contact for pricing
      1,092 SF

      Office Space Near Devon Station

      Office space for rent, conveniently located near Devon SEPTA Station.
      227 W Lancaster Ave, Devon, PA 19333
      View Details
    • Contact for pricing
      3,427 SF

      Main Line Office Space Available

      Office space for lease in the heart of Main Line.
      229-231 W Lancaster Ave, Devon, PA 19333
      View Details
    • Contact for pricing
      27,574 SF

      Modern Office Building For Lease

      Class A office building with renovated modern workspaces available for lease.
      426 W Lancaster Ave, Devon, PA 19333
      View Details
    • Contact for pricing
      4,000 SF

      Newly Renovated Medical Office Space

      Approx. 4,000 SF medical office space for immediate occupancy.
      92 Lancaster Ave, Devon, PA 19333
      View Details
    • Contact for pricing
      1,139 SF

      Furnished Office Suite Available

      Furnished office suite in Easttown Township available immediately.
      12 Arlington Rd, Devon, PA 19333
      View Details
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    Devon, PA 19333-1305
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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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