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Property profile & analytics
OFF-MARKET
Estimated value
$13,655,000
Office buildings
200 Tournament Dr Horsham, PA 19044-3606
Entity Owned
18-yr Hold
Free & Clear
Property ID
US73-5705222
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
88,000 SF
Lot
14.4 ac (627,264 SF)
Zoning code
PI
APN
36-00-05636-60-1
UPID
US73-5705222
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
-
Janssen Pharmacy
-
Janssen Pharmaceuticals, Inc Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.85M
Blend (final)
Blend
$13.66M
Owner & transaction history
Centocor INC · 18 yrs held
Centocor INC
since 2008
6 recorded transactions
Zoning & alternative use
PI · Horsham, 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 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
OFFICE BUILDING
$14,400,000
Current use
MEDICAL BUILDING
$13,870,000
Change: -4% · Conversion: Easy
RESTAURANT
$12,350,000
Change: -14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$12,230,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$13.66M
Range $12.29M – $15.02M · ±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
$155 / 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
$337,049
Tax year 2023
Assessed value
$8,574,590
Assessed 2024
Previous assessed
$8,574,590
+0.0% YoY
Effective rate
3.93%
On assessed value
Assessed land
$685,220
Assessed improvement
$7,889,370
Land market value
$685,220
Improvement market value
$7,889,370
Total market value
$8,574,590
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Cooling
CENTRAL
Total area
88,000 SF
Lot
14.4 ac (627,264 SF)
Zoning code
PI
APN
36-00-05636-60-1
UPID
US73-5705222
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
PI · Horsham, PA
Zoning PI · permitted uses
PI · 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
OFFICE BUILDING Current
Est. value
$14.4M
MEDICAL BUILDING
Est. value
$13.9M
RESTAURANT
Est. value
$12.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1989
Heating
FORCED AIR
Cooling
Yes
Lot
14.4 ac
Current owner
From public records · entity-resolved
Centocor INC
Entity
Free & Clear · 18 yrs held
Mailing address
1125 BEAR TAVERN RD, TITUSVILLE, NJ 08560-1504
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2008
$18,682,409
Centocor INC
Tournament Drive Investors
Grant Deed
—
Mar 14, 2006
—
Tournament Drive Investors
—
Deed Of Trust
related
$4,300,000 · Wells Fargo Bank
Dec 30, 2004
$7,525,000
Tournament Drive Investors
American Financial Trs INC
Grant Deed
$8,750,000 · Wells Fargo Bank
Oct 28, 2004
$3,014,244
American Financial Trs INC
Fleet Credit Card Services
Grant Deed
related
—
Mar 2, 1998
$8,574,590
Fleet Credit Card LLC
Advanta Service Corp
Grant Deed
related
—
Aug 22, 1997
$1,572,600
Advanta Properties II Corp
Comrock Associates LP
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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