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    Property profile & analytics

    215 W Main St Norristown, PA 19401

    • Investment properties
    • 8,754 SF
    • 0.15 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1360936
    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 / Restaurant
    • Popeyes Louisiana Kitchen / Restaurant
    • Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store
    • United Check Cashing / Check Cashing
    • Hair Outlet / (Bike/Boat/Book/etc) Store / Cosmetic Store

    Property Details for 215 W Main St

    Year built
    1900
    Lot size
    0.15 lot acres
    Property size
    8,754 SF
    Zone code
    TC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    13-00-21924-00-5
    APU
    130021924005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $548,000
      Market price range: $367k - $775k
      AI Estimate
      $580,000
      Market price range: $425k - $831k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $560,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3406
    Latitude
    40.1135
    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
    $12,330
    $0.00
    $0.00
    $200,880
    -
    $0.00
    $0.00
    $200,880

    Comparable in this City

    • Value Estimation by Request
      3,888 SF

      516 Dekalb St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,888 SF
      516 Dekalb St, Norristown, PA 19401-4931
      View Details
    • Value Estimation by Request
      2,760 SF

      532 Dekalb St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,760 SF
      532 Dekalb St, Norristown, PA 19401-4931
      View Details
    • Value Estimation by Request
      3,111 SF

      347 Johnson Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 3,111 SF
      347 Johnson Hwy, Norristown, PA 19401-1992
      View Details
    • Value Estimation by Request
      3,123 SF

      353 Johnson Hwy

      OFFICE/RESIDENTIAL (MIXED USE) • 3,123 SF
      353 Johnson Hwy, Norristown, PA 19401-1992
      View Details
    • Value Estimation by Request
      3,089 SF

      800 Smith St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,089 SF
      800 Smith St, Norristown, PA 19401-4049
      View Details
    • Value Estimation by Request
      6,132 SF

      275 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,132 SF
      275 Main St, Norristown, PA 19401-5063
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,888 SF

      Mixed-Use Building in Norristown

      Three-story, 2,888 SF mixed-use building on 9,000 SF lot.
      317 W Johnson Hwy, Norristown, PA 19401
      View Details
    • $539,900
      0.08 Acres

      this location simply cannot be beat with One Montgomery Plaza and the Montgomery County Courthouse just steps away! As you enter through the front door

      you'll quickly recognize the building's unique character and impressive ceiling height- which effortlessly join to replicate the feel of a \""big city\"" atmosphere. The 1st floor features a greeting and waiting area
      509 Swede St, Norristown, PA 19401
      View Details
    • $749,000
      0.04 Acres

      Mixed-Use Property in Thriving Norristown

      Three apartments and a commercial space in a prime location.
      421 W Marshall St, Norristown, PA 19401
      View Details
    • $368,900
      3,346 SF

      Mixed-Use Property in Norristown

      Mixed-use property featuring commercial space and a two-bedroom apartment.
      254 E Main St, Norristown, PA 19401
      View Details
    • $400,000
      3,352 SF

      Norristown Triplex for Renovation

      Triplex in Norristown, PA, needing total renovation or redevelopment.
      1009 Dekalb St, Norristown, PA 19401
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    • $259,900
      1,602 SF

      Norristown Duplex with Income Potential

      Duplex in Norristown with separate utilities and income potential.
      760 George St, Norristown, PA 19401
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    Similar Nearby for Lease

    • $1,395 /Mo
      436 SF

      Turnkey Commercial Space in Norristown

      Revitalized commercial property ideal for retail, office, or financial services.
      524 Dekalb St, Norristown, PA 19401
      View Details
    • Contact for pricing

      Norristown Retail Space Available

      Retail spaces available, ranging from 8,453 to 11,138 SqFt.
      2811 Dekalb Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      57,000 SF

      East Norriton Office Space Available

      57,000 SF office space for rent in East Norriton.
      301 East Germantown Pike, East Norriton, PA 19401
      View Details
    • Contact for pricing
      2,790 SF

      Retail Space on Main Street

      Retail space with high visibility and foot traffic available for lease.
      215 W Main St, Norristown, PA 19401
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Germantown Pike

      Retail opportunity with strong demographics and traffic counts.
      113 W Germantown Pike, Norristown, PA 19401
      View Details
    • $26 SF/Yr
      4,734 SF

      Class A Medical Office Space

      Medical and office space for lease with abundant parking.
      160 W Germantown Pike, Norristown, PA 19401
      View Details

    Property Visit Statistics

    • Visits by month
      10.8k
    • Visitors by month
      7.2k
    • Avg Time on site
      14 min
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    Norristown, PA 19401
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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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