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    2471 W Cheltenham Ave Wyncote, PA 19095
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    2471 W Cheltenham Ave, Wyncote, PA 19095

    View on Map
    • Outlet malls
    • 217,236 SF
    • 7.17 lot acres
    For Sale
    $22,695,000
    View Listing →
    Retail Space in Dense Market For Sale
    $22,695,000

    Retail Space in Dense Market

    Prime retail location with high traffic and desirable cotenants.

    2471 W Cheltenham Ave, Wyncote, PA 19095
    View Listing
    Property ID
    US73-4398982
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • PNC Mortgage / Loan Service / Bank
    • Hair Buzz / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • WUYM / Charitable Organization / Social Service Agency
    • Amazon Hub Locker - Doaa / Postal Service / Courier Service

    Property Details for 2471 W Cheltenham Ave

    Year built
    1959
    Lot size
    7.17 lot acres
    Zone code
    C2
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    31-00-05701-04-5
    APU
    310005701045

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 30, 2022 — Cheltenham Re LLC Cheltenham Re LLC Re-recorded Document · related —
    Aug 3, 2021 — Cheltenham Re LP — Deed · related $19.4M · Valley National Bank
    Feb 1, 2016 $17,812,185 Cheltenham Re LP Zs Cheltenham Investor LLC Trustees Deed · related $20.2M · Oritani Fin

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wyncote
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.1575
    Latitude
    40.0758
    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
    $532,497
    $0.00
    $0.00
    $7,973,000
    -
    $0.00
    $0.00
    $7,973,000

    Comparable in this City

    • Value Estimation
      $7,710,000
      50,965 SF

      Cheltenham Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      Cheltenham Ave, Wyncote, PA 19095
      View Details
    • Value Estimation
      $6,215,000
      14,356 SF

      2727 Cheltenham Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      2727 Cheltenham Ave, Wyncote, PA 19095-2930
      View Details
    • Value Estimation
      $4,680,000
      70,660 SF

      8145 Ogontz Ave, Unit 8200

      SHOPPING CENTER, STRIP CENTER
      8145 Ogontz Ave, Wyncote, PA 19095-2908
      View Details
    • Value Estimation
      $32,715,000
      615,217 SF

      1000 Easton Rd

      MINI-MALL
      1000 Easton Rd, Wyncote, PA 19095-2942
      View Details
    • Value Estimation by Request
      0.52 Acres

      Grn Ln

      PARKING LOT
      Grn Ln, Wyncote, PA 19095
      View Details
    • Value Estimation by Request
      3,976 SF

      5 Nn Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      5 Nn Ave, Wyncote, PA 19095-1222
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space in Dense Market

      Prime retail location with high traffic and desirable cotenants.
      2471 W Cheltenham Ave, Wyncote, PA 19095
      View Details
    • Contact for pricing
      4,596 SF

      Retail Space for Sale

      Retail space available in Wyncote, PA.
      2421 W Cheltenham Ave, Wyncote, PA 19095
      View Details
    • Contact for pricing

      Cheltenham Avenue Retail Opportunity

      Freestanding retail space with high household density in Wyncote, PA.
      2727 W Cheltenham Ave, Wyncote, PA 19095
      View Details
    • Contact for pricing
      0.64 Acres

      Wyncote Office Building, 0.64 Acres

      Prime Wyncote office space, ideal location.
      147 Greenwood Ave, Wyncote, PA 19095
      View Details
    • Contact for pricing
      93,423 SF

      Wyncote Commons Industrial Property

      93,423 SF industrial property on 6.65 acres.
      827 Glenside Ave, Wyncote, PA 19095
      View Details
    • Contact for pricing
      0.64 Acres

      Wyncote Office Space: Flexible Lease Terms

      Modern Loft Office, Flexible Options, All-Inclusive
      147 Greenwood Ave, Wyncote, PA 19095
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,499 SF

      Retail Space in Regional Center

      Retail space available in successful regional power center.
      1000 Easton Rd, Wyncote, PA 19095
      View Details
    • New
      Contact for pricing
      25,000 SF

      Retail Space in Neighborhood Shopping Center

      Retail space available in a high-traffic shopping center anchored by ShopRite at a major Rt 309 intersection.
      2471 W Cheltenham Ave, Lamott, PA 19095
      View Details
    • 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 19095
      View Details
    • Contact for pricing
      6,400 SF

      Retail Space Near Cheltenham Mall

      Retail space available across from Greenleaf Cheltenham Mall.
      8148 Ogontz Ave, Wyncote, PA 19095
      View Details
    • Contact for pricing
      14,490 SF

      Cheltenham Avenue Freestanding Retail Opportunity

      Freestanding retail opportunity with high household density and easy access.
      2727 Cheltenham Ave, Elkins Park, PA 19095
      View Details
    • $1.00 SF/Yr

      Wyncote Retail Opportunity

      High-end first floor retail space available for rent.
      8440 Limekiln Pike, Wyncote, PA 19095
      View Details
    View Listing
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    Wyncote, PA 19095
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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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