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    Property profile & analytics

    2431 Main St West Norriton, PA 19403-3019

    • Strip malls
    • 10,052 SF
    • 3.10 lot acres
    OFF-MARKET
    Value Estimations
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2892813
    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

    • Akshay Indian Grocery (Going out of Business SALE) / Grocery & Convenience Store / Food Market
    • Main Street Produce / Grocery & Convenience Store / Food Market

    Property Details for 2431 Main St

    Year built
    1959
    Lot size
    3.10 lot acres
    Property size
    10,052 SF
    Zone code
    C
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    63-00-06925-05-9
    APU
    630006925059

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $880,000
      Market price range: $287k - $881k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,310,000
      Current use
      OFFICE BUILDING
      $1,750,000
      Change: +34% Conversion: Moderate
      MEDICAL BUILDING
      $1,585,000
      Change: +21% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,450,000
      Change: +11% Conversion: Difficult
      RESTAURANT
      $1,410,000
      Change: +8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,210,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    West Norriton
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3846
    Latitude
    40.1397
    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
    $45,318
    $758,370
    $169,200
    $927,570
    -
    $758,370
    $169,200
    $927,570

    Comparable in this City

    • Value Estimation
      $1,635,000
      22,256 SF

      2121 Main St

      SHOPPING CENTER, STRIP CENTER • 22,256 SF
      2121 Main St, West Norriton, PA 19403-7000
      View Details
    • Value Estimation
      $3,950,000
      51,281 SF

      1936 Main St

      SHOPPING CENTER, STRIP CENTER • 51,281 SF
      1936 Main St, West Norriton, PA 19403-3108
      View Details
    • Value Estimation
      $1,550,000
      21,788 SF

      2115 Main St

      SHOPPING CENTER, STRIP CENTER • 21,788 SF
      2115 Main St, Norristown, PA 19403
      View Details
    • Value Estimation
      $1,225,000
      11,102 SF

      2401 Main St

      SHOPPING CENTER, STRIP CENTER • 11,102 SF
      2401 Main St, West Norriton, PA 19403-3184
      View Details
    • Value Estimation
      $970,000
      13,887 SF

      3140 Rdg Pike

      SHOPPING CENTER, STRIP CENTER • 13,887 SF
      3140 Rdg Pike, Eagleville, PA 19403-1428
      View Details
    • Value Estimation
      $12,890,000
      126,833 SF

      2828 Egypt Rd

      SHOPPING CENTER, STRIP CENTER • 126,833 SF
      2828 Egypt Rd, Norristown, PA 19403-2110
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Corner Retail Development Opportunity

      Retail development opportunity in high-density market.
      2570 Boulevard Of The Generals, Norristown, PA 19403
      View Details
    • $500,000
      Pending

      Norristown Commercial Revitalization District Property

      Property in Norristown Commercial Revitalization District with high traffic count.
      1445 W Main St, Norristown, PA 19403
      View Details
    • $675,000

      Mixed-Use Property with High Traffic

      Mixed-use commercial property with daycare, apartments, and parking.
      1955 W Main St, Eagleville, PA 19403
      View Details
    • $3,500,000
      44.00 Acres

      Prime Montgomery County Farm

      44-Acre Horse Farm, Exceptional Amenities
      1600 Potshop Rd, Norristown, PA 19403
      View Details
    • $599,999
      0.59 Acres

      Mixed-Use Property, Norristown, PA

      Prime Norristown location, high visibility, ample parking.
      104 Egypt Rd, Norristown, PA 19403
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      63,045 SF

      Ridge Pike Plaza Retail Space

      Eagleville, PA Retail Center - Lease Opportunity
      3200 Ridge Pike, Eagleville, PA 19403
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Eagleville, PA

      Retail spaces available for lease or sale in Eagleville, PA.
      3200 Ridge Pike, Eagleville, PA 19403
      View Details
    • Contact for pricing
      3,400 SF

      Retail Space with Ample Parking

      Retail space in a densely populated area with great visibility.
      2101-2115 W Main St, Norristown, PA 19403
      View Details
    • $20 SF/Yr
      1,500 SF

      Retail Space on Ridge Pike

      Retail space with high visibility and excellent accessibility.
      3140 Ridge Pike, Norristown, PA 19403
      View Details
    • $2,900 /Mo
      139,828 SF

      Modern Office Building For Lease

      Modern, two-story office building in excellent condition, suitable for various businesses.
      3238 W Germantown Pike, Norristown, PA 19403
      View Details
    • $25 SF/Yr
      1,200 SF

      Renovated Retail Space on Main

      Newly renovated retail space with parking and pylon signage.
      2448 W Main St, Norristown, PA 19403
      View Details
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    West Norriton, PA 19403-3019
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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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