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    Property profile & analytics

    2042 Main St West Norriton, PA 19403-3063

    • Garden apartment buildings
    • 35,020 SF
    • 2.70 lot acres
    OFF-MARKET
    Value Estimations
    $4,815,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2143217
    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

    • Jefferson Villa Apartments / Apartment Complex

    Property Details for 2042 Main St

    Year built
    1969
    Lot size
    2.70 lot acres
    Property size
    35,020 SF
    Zone code
    A
    Property type
    Garden apartment buildings
    APN
    63-00-07117-00-2
    APU
    630007117002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,551,000
      Market price range: $2.35M - $6.55M
      AI Estimate
      $3,075,000
      Market price range: $1.06M - $3.59M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $5,050,000
      Current use
      OFFICE BUILDING
      $6,100,000
      Change: +21% Conversion: Moderate
      MEDICAL BUILDING
      $5,520,000
      Change: +9% Conversion: Moderate
      RESTAURANT
      $4,915,000
      Change: -3% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,565,000
      Change: -10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,205,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    West Norriton
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3815
    Latitude
    40.1332
    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
    $80,804
    $0.00
    $0.00
    $1,653,900
    -
    $0.00
    $0.00
    $1,653,900

    Comparable in this City

    • Value Estimation
      $30,425,000
      252,272 SF

      2070 Ml Rd

      GARDEN APT, COURT APT (5+ UNITS) • 252,272 SF
      2070 Ml Rd, West Norriton, PA 19403-3412
      View Details
    • Value Estimation
      $38,115,000
      305,760 SF

      313 Conestoga Way

      GARDEN APT, COURT APT (5+ UNITS) • 305,760 SF
      313 Conestoga Way, Eagleville, PA 19403-5040
      View Details
    • Value Estimation by Request
      435,884 SF

      2834 Egypt Rd

      GARDEN APT, COURT APT (5+ UNITS) • 435,884 SF
      2834 Egypt Rd, Norristown, PA 19403
      View Details
    • Value Estimation
      $9,485,000
      57,222 SF

      1147 Pawlings Rd

      GARDEN APT, COURT APT (5+ UNITS) • 57,222 SF
      1147 Pawlings Rd, Norristown, PA 19403
      View Details
    • Value Estimation
      $18,530,000
      154,825 SF

      2828 Egypt Rd

      GARDEN APT, COURT APT (5+ UNITS) • 154,825 SF
      2828 Egypt Rd, Norristown, PA 19403-2110
      View Details
    • Value Estimation by Request
      503,942 SF

      1400 Trooper Rd

      GARDEN APT, COURT APT (5+ UNITS) • 503,942 SF
      1400 Trooper Rd, West Norriton, PA 19403-5295
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.27 Acres

      Norristown Office Space for Lease

      Second-floor office, 500 sq ft, great location.
      3120 Ridge Pike, Norristown, PA 19403
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      6,500 SF

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      6,500 SF building near Jefferson Einstein Montgomery Hospital Campus.
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      6,867 SF

      Norristown Commercial Revitalization District Property

      Commercial property in Norristown's Revitalization District with high traffic.
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      View Details
    • Contact for pricing
      1.76 Acres

      Prime Norristown Office Building

      Trooper Road Office Space - High Visibility
      536 Trooper Rd, Norristown, PA 19403
      View Details
    • Contact for pricing
      6,325 SF

      Industrial Building on Fenced Lot

      6,325 SF building on 1.29 acre fenced lot.
      915 S Trooper Rd, Norristown, PA 19403
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr

      Renovated Office Space For Rent

      Newly renovated office space with flexible layout and ample parking.
      29 S Trooper Rd, Eagleville, PA 19403
      View Details
    • Contact for pricing

      Flex Space Near Retail Amenities

      Flex space near shopping, dining, and transportation.
      904 Jefferson Ave, Audubon, PA 19403
      View Details
    • $10 SF/Yr

      Norristown Office Suites For Rent

      Second-floor office suites available for lease in Norristown.
      1916 W Marshall St, Norristown, PA 19403
      View Details
    • Contact for pricing
      4,180 SF

      Norristown Office Space for Rent

      Two-story office building near Valley Forge with attractive interior finishes.
      820 Adams Ave, Norristown, PA 19403
      View Details
    • $1,191 /Mo

      Renovated Office Space Available

      Newly renovated office and medical space for lease.
      9 Lawn Ave, Jeffersonville, PA 19403
      View Details
    • Contact for pricing
      20,000 SF

      Norristown Warehouse Space Available

      20,000 sqft warehouse space for rent in Norristown.
      2564 Boulevard Of The Generals, Norristown, PA 19403
      View Details
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    2042 Main St
    West Norriton, PA 19403-3063
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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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