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

    2509 Main St West Norriton, PA 19403-3020

    • Bars
    • 8,194 SF
    • 0.63 lot acres
    OFF-MARKET
    Last Sale
    Jan 26, 2023
    $1,950,000
    Value Estimations
    $2,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1263254
    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

    • Chap's Taproom / Bar / Restaurant

    Property Details for 2509 Main St

    Year built
    1940
    Lot size
    0.63 lot acres
    Property size
    8,194 SF
    Zone code
    C
    Property type
    Bars
    Property subtype
    Pubs
    APN
    63-00-06940-00-8
    APU
    630006940008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,115,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,420,000
      RETAIL STORES
      $2,205,000
      OFFICE BUILDING
      $1,425,000
      MEDICAL BUILDING
      $1,290,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Norriton
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3873
    Latitude
    40.141
    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
    $22,173
    $0.00
    $0.00
    $453,820
    -
    $0.00
    $0.00
    $453,820

    Comparable in this City

    • Value Estimation by Request
      6,105 SF

      3223 Germantown Pike

      BAR, TAVERN • 6,105 SF
      3223 Germantown Pike, Norristown, PA 19403-1028
      View Details
    • Value Estimation by Request
      3,757 SF

      1991 Main St

      BAR, TAVERN • 3,757 SF
      1991 Main St, West Norriton, PA 19403-3149
      View Details
    • Value Estimation
      $1,315,000
      10,646 SF

      3300 Rdg Pike

      RESTAURANT • 10,646 SF
      3300 Rdg Pike, Eagleville, PA 19403-1412
      View Details
    • Value Estimation by Request
      2,908 SF

      2610 Egypt Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,908 SF
      2610 Egypt Rd, Norristown, PA 19403-2302
      View Details
    • Value Estimation by Request
      2,648 SF

      2838 Rdg Pike

      RESTAURANT • 2,648 SF
      2838 Rdg Pike, Norristown, PA 19403-1535
      View Details
    • Value Estimation by Request
      4,762 SF

      2908 Rdg Pike

      RESTAURANT • 4,762 SF
      2908 Rdg Pike, Trooper, PA 19403-1537
      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
      0.20 Acres

      Norristown Commercial Revitalization District Property

      Commercial property in Norristown's Revitalization District with high traffic.
      1445 W Main St, Norristown, PA 19403
      View Details
    • $40,000

      Residential Lot in Established Neighborhood

      5,625 SF lot for new home construction.
      12 Wilson Rd, Eagleville, PA 19403
      View Details
    • Contact for pricing
      1.76 Acres

      Prime Norristown Office Building

      Trooper Road Office Space - High Visibility
      536 Trooper Rd, Norristown, PA 19403
      View Details
    • Contact for pricing
      6,325 SF

      Industrial Building on Fenced Lot

      6,325 SF building on 1.29 acre fenced lot.
      915 S Trooper 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
      950 SF

      Norristown Restaurant with Drive-Thru

      Freestanding 950 SF restaurant with drive-thru in Norristown, PA.
      2601 Egypt Rd, Norristown, PA 19403
      View Details
    • Contact for pricing
      3,200 SF

      Retail Building Near Medical Center

      Freestanding retail building with ample parking and great visibility.
      2905 Whitehall Rd, Norristown, PA 19403
      View Details
    • 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
    • $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
    • Contact for pricing
      5,100 SF

      Freestanding Retail Building on Eagle Road

      5,100 SF retail building with high visibility and parking.
      2609 Egypt Rd, Norristown, PA 19403
      View Details
    • $2,575 /Mo
      139,828 SF

      Modern Office Building For Lease

      Modern office building in excellent shape, perfect for small businesses.
      3238 W Germantown Pike, Norristown, PA 19403
      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.
    2509 Main St
    West Norriton, PA 19403-3020
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.