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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2047 Mather Way Elkins Park, PA 19027-1092

    • Garden apartment buildings
    • 942,795 SF
    • 119.95 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0108531
    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

    • Leeva Cleaning Services / Commercial Cleaning Service

    Property Details for 2047 Mather Way

    Year built
    1945
    Lot size
    119.95 lot acres
    Property size
    942,795 SF
    Zone code
    M1
    Property type
    Garden apartment buildings
    APN
    31-00-27589-00-1
    APU
    310027589001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $180,620,000
      Market price range: $75.0M - $181M
      AI Estimate
      $83,673,000
      Market price range: $27.6M - $83.7M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $131,040,000
      Current use
      OFFICE BUILDING
      $154,260,000
      Change: +18% Conversion: Moderate
      MEDICAL BUILDING
      $148,605,000
      Change: +13% Conversion: Moderate
      RESTAURANT
      $132,330,000
      Change: +1% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $122,885,000
      Change: -6% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $105,435,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkins Park
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.1477
    Latitude
    40.0729
    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
    $4,698,501
    $0.00
    $0.00
    $70,350,000
    -
    $0.00
    $0.00
    $70,350,000

    Comparable in this City

    • Value Estimation
      $6,850,000
      100,409 SF

      8000 High School Rd

      GARDEN APT, COURT APT (5+ UNITS) • 100,409 SF
      8000 High School Rd, Elkins Park, PA 19027-2647
      View Details
    • Value Estimation
      $3,440,000
      53,165 SF

      7876 Spg Ave

      GARDEN APT, COURT APT (5+ UNITS) • 53,165 SF
      7876 Spg Ave, Elkins Park, PA 19027-2633
      View Details
    • Value Estimation
      $13,345,000
      198,792 SF

      902 Vly Rd

      GARDEN APT, COURT APT (5+ UNITS) • 198,792 SF
      902 Vly Rd, Melrose Park, PA 19027-3234
      View Details
    • Value Estimation
      $5,055,000
      71,766 SF

      1990 Ashbourne Rd

      GARDEN APT, COURT APT (5+ UNITS) • 71,766 SF
      1990 Ashbourne Rd, Elkins Park, PA 19027-1132
      View Details
    • Value Estimation
      $745,000
      5,418 SF

      7326 Coventry Ave

      GARDEN APT, COURT APT (5+ UNITS) • 5,418 SF
      7326 Coventry Ave, Melrose Park, PA 19027-2944
      View Details
    • Value Estimation
      $5,135,000
      56,118 SF

      26 Township Line Rd

      APARTMENT HOUSE (5+ UNITS) • 56,118 SF
      26 Township Line Rd, Elkins Park, PA 19027-2251
      View Details

    Similar Nearby for Sale

    • $238,000

      Updated Condo in Elkins Park

      Move-in ready, 2-bedroom condo with modern updates and attached garage.
      233 Township Line Rd, Elkins Park, PA 19027
      View Details
    • $385,000
      1,808 SF

      Elkins Park Duplex Opportunity

      Twin duplex in Elkins Park near shopping and transit.
      7208 Chestnut Ave, Elkins Park, PA 19027
      View Details
    • $725,000
      4,355 SF

      Elkins Park Triplex with Garages

      Well-maintained triplex with multiple garages, ideal for owner-occupiers or investors.
      7301 Chestnut Ave, Elkins Park, PA 19027
      View Details
    • $469,900
      0.05 Acres

      Mixed-Use Property in Elkins Park

      Mixed-use property with commercial space and residential apartment.
      915 Jenkintown Rd, Elkins Park, PA 19027
      View Details
    • $279,900
      1,466 SF

      Charming 3-Story Home in Elkins Park

      Charming 3-story home with 3 bedrooms, 1 bath, and desirable features.
      7728 Union Ave, Elkins Park, PA 19027
      View Details
    • Contact for pricing
      11,182 SF

      Elkins Park Executive Office Suite

      Prime Office Space, 11,182 SF
      8302 Old York Rd, Elkins Park, PA 19027
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,000 SF

      Retail Space in Elkins Park

      7,000 SF retail space available in busy shopping center.
      2385-2401 W Cheltenham Ave, Elkins Park, PA 19027
      View Details
    • $1,200 /Mo
      10,454 SF

      Retail Space Near Melrose Park Station

      Commercial space for lease with high traffic and great potential.
      737 Valley Rd, Elkins Park, PA 19027
      View Details
    • $18 SF/Yr
      38,333 SF

      Elkins Park Professional Office Space

      Professional office building with on-site parking near Old York Road.
      8118 Old York Rd, Elkins Park, PA 19027
      View Details
    • New
      $500 /Mo
      10,890 SF

      Elkins Park Garage For Rent

      Two-car garage for rent in Elkins Park with power.
      316 Gerard Ave, Elkins Park, PA 19027
      View Details
    • New
      $300 /Mo
      10,890 SF

      Elkins Park Garage For Rent

      One-car garage for rent with power in Elkins Park.
      316 Gerard Ave, Elkins Park, PA 19027
      View Details
    • $18 SF/Yr
      3,830 SF

      Elkins Park Retail/Restaurant Space

      Restaurant/Retail space available at Church Rd and Old York Rd.
      8080 Old York Rd, Elkins Park, PA 19027
      View Details
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    2047 Mather Way
    Elkins Park, PA 19027-1092
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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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