Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    215 Main St Norristown, PA 19401-4622

    • Strip malls
    • 9,303 SF
    • 0.64 lot acres
    OFF-MARKET
    Value Estimations
    $935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5906234
    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

    • Main Street Cafe / Breakfast Restaurant
    • Popeyes Louisiana Kitchen / Chicken Restaurant / Cajun Restaurant
    • Metro by T-Mobile / Cell Phone Store / Cell Phone Accessory Store
    • United Check Cashing / Check Cashing Service
    • Hair Outlet / Beauty Supply Store

    Property Details for 215 Main St

    Year built
    1960
    Lot size
    0.64 lot acres
    Property size
    9,303 SF
    Zone code
    TC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    13-00-22944-00-2
    APU
    130022944002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,284,000
      Market price range: $586k - $2.03M
      AI Estimate
      $586,000
      Market price range: $266k - $815k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,215,000
      Current use
      MEDICAL BUILDING
      $1,465,000
      Change: +21% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,340,000
      Change: +11% Conversion: Difficult
      RESTAURANT
      $1,305,000
      Change: +8% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,040,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3473
    Latitude
    40.1161
    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
    $33,746
    $0.00
    $0.00
    $549,780
    -
    $0.00
    $0.00
    $549,780

    Comparable in this City

    • Value Estimation
      $5,110,000
      53,632 SF

      118 Germantown Pike

      SHOPPING CENTER, STRIP CENTER • 53,632 SF
      118 Germantown Pike, East Norriton, PA 19401-1330
      View Details
    • Value Estimation
      $910,000
      8,390 SF

      1703 Markley St

      SHOPPING CENTER, STRIP CENTER • 8,390 SF
      1703 Markley St, Norristown, PA 19401-2901
      View Details
    • Value Estimation
      $3,385,000
      43,400 SF

      2014 Old Arch Rd

      SHOPPING CENTER, STRIP CENTER • 43,400 SF
      2014 Old Arch Rd, Norristown, PA 19401-2048
      View Details
    • Value Estimation by Request
      2,440 SF

      205 Germantown Pike

      SHOPPING CENTER, STRIP CENTER • 2,440 SF
      205 Germantown Pike, East Norriton, PA 19401-1331
      View Details
    • Value Estimation
      $16,535,000
      207,661 SF

      2826 Dekalb Pike, Unit 2894

      SHOPPING CENTER, STRIP CENTER • 207,661 SF
      2826 Dekalb Pike, East Norriton, PA 19401-1823
      View Details
    • Value Estimation
      $12,030,000
      116,706 SF

      25 Germantown Pike, Unit 99

      SHOPPING CENTER, STRIP CENTER • 116,706 SF
      25 Germantown Pike, East Norriton, PA 19401-1558
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space Available for Sale

      Retail spaces available with strong demographics and traffic counts.
      Germantown Pike & Swede Rd, Norristown, PA 19401
      View Details
    • $5,580,000
      13,650 SF

      Freestanding Walgreens in Norristown, PA

      Single tenant Walgreens with absolute NNN lease in Norristown, PA.
      3300 Dekalb Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      0.38 Acres

      Versatile Commercial Space in Norristown

      Adaptable commercial space with open floor plan and ample parking.
      516 E Marshall St, Norristown, PA 19401
      View Details
    • Contact for pricing

      Fully Leased Retail Property

      Retail property for sale, currently fully leased.
      1717 Markley St, Norristown, PA 19401
      View Details
    • $368,900
      3,346 SF

      Mixed-Use Commercial Property in Norristown

      Mixed-use property with commercial space and a renovated two-bedroom apartment.
      254 E Main St, Norristown, PA 19401
      View Details
    • Contact for pricing

      Retail Space in Logan Center

      Retail space available in redeveloped Logan Commerce Center.
      1700 Markley St, Norristown, PA 19401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,500 SF

      Retail End Cap for Sublease

      19,448 SF end cap in busy shopping center.
      2832-2888 Dekalb Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      8,825 SF

      Northtowne Plaza: Retail Space Available

      Prime Retail Space, East Norriton, PA
      2842 Dekalb Pike, East Norriton, PA 19401
      View Details
    • Contact for pricing
      100,816 SF

      Swede Square Retail Space Available

      Norristown retail spaces for lease. Prime location.
      0 Germantown Pike & Swede Rd, Norristown, PA 19401
      View Details
    • Contact for pricing
      1,800 SF

      Giant-Anchored Retail Space Available

      Retail space for lease in established shopping center.
      1750 Dekalb St, Norristown, PA 19401
      View Details
    • Contact for pricing
      1,572 SF

      Retail Space on Germantown Pike

      Retail opportunity with strong demographics and traffic counts.
      101-111 W Germantown Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      12,250 SF

      Retail Space in Norriton Square

      Retail space available in East Norriton retail market.
      25 E Germantown Pike, Norristown, PA 19401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    215 Main St
    Norristown, PA 19401-4622
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.