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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2512 Main St West Norriton, PA 19403-3080

    • Investment properties
    • 7,204 SF
    • 1.34 lot acres
    OFF-MARKET
    Last Sale
    Jun 13, 2023
    $1,100,000
    Value Estimations
    $1,120,000
    Show details
    Cap Rate Potential
    6.6%
    Investment properties
    Location Intelligence
    Property ID
    US73-0206431
    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

    • Taqwa Market & Halal Meat | International Foods & Spices | / Grocery & Convenience Store / Food Market
    • Griswold / Home Health Care Service
    • Glam Nails and Spa / Nail Salon

    Property Details for 2512 Main St

    Year built
    1950
    Lot size
    1.34 lot acres
    Property size
    7,204 SF
    Zone code
    LC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    63-00-07198-00-2
    APU
    630007198002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,125,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,245,000
      6.5%
      $1,145,000
      7%
      $1,065,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $723,000
      Market price range: $601k - $1.18M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $865,000
      Current use
      OFFICE BUILDING
      $1,255,000
      Change: +45% Conversion: Easy
      MEDICAL BUILDING
      $1,135,000
      Change: +31% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,040,000
      Change: +20% Conversion: Moderate
      RESTAURANT
      $1,010,000
      Change: +17% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $940,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    West Norriton
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3887
    Latitude
    40.1399
    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
    $13,704
    $0.00
    $0.00
    $280,500
    -
    $0.00
    $0.00
    $280,500

    Comparable in this City

    • Value Estimation
      $550,000
      6,074 SF

      2864 Rdg Pike

      OFFICE/RESIDENTIAL (MIXED USE) • 6,074 SF
      2864 Rdg Pike, Trooper, PA 19403-1535
      View Details
    • Value Estimation by Request
      2,132 SF

      100 Sunnyside Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,132 SF
      100 Sunnyside Ave, Norristown, PA 19403-1569
      View Details
    • Value Estimation by Request
      2,808 SF

      2793 Egypt Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,808 SF
      2793 Egypt Rd, Eagleville, PA 19403-2254
      View Details
    • Value Estimation
      $640,000
      7,499 SF

      900 Park Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,499 SF
      900 Park Ave, Norristown, PA 19403-1077
      View Details
    • Value Estimation by Request
      3,743 SF

      3000 Rdg Pike

      OFFICE/RESIDENTIAL (MIXED USE) • 3,743 SF
      3000 Rdg Pike, Norristown, PA 19403-1539
      View Details
    • Value Estimation
      $635,000
      10,965 SF

      2874 Rdg Pike

      OFFICE/RESIDENTIAL (MIXED USE) • 10,965 SF
      2874 Rdg Pike, Trooper, PA 19403-1590
      View Details

    Similar Nearby for Sale

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      0.59 Acres

      Mixed-Use Property, Norristown, PA

      Prime Norristown location, high visibility, ample parking.
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      Second-floor office, 500 sq ft, great location.
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      Prime Norristown Office Building

      Trooper Road Office Space - High Visibility
      536 Trooper Rd, Norristown, PA 19403
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      6,325 SF

      Industrial Building on Fenced Lot

      6,325 SF building on 1.29 acre fenced lot.
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    • $500,000
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      Norristown Commercial Revitalization District Property

      Commercial property in Norristown's Revitalization District with high traffic.
      1445 W Main St, Norristown, PA 19403
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    Similar Nearby for Lease

    • $11 SF/Yr
      8,782 SF

      Norristown Industrial Flex Space

      8,782 SF Flex Space Available Now
      529 Foundry Rd, Norristown, PA 19403
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    • $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
    • Contact for pricing
      5,730 SF

      Office Space in Norristown

      5,730 square feet of office space available for rent.
      2460 General Armistead Ave, Norristown, 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
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    • Contact for pricing
      20,000 SF

      Norristown Warehouse Space Available

      20,000 sqft warehouse space for rent in Norristown.
      2564 Boulevard Of The Generals, Norristown, PA 19403
      View Details
    • $15 SF/Yr
      2,226 SF

      Norristown Office and Storage Space

      Office, apartment, and storage space available for lease.
      1217 S Trooper Rd, Norristown, PA 19403
      View Details
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    2512 Main St
    West Norriton, PA 19403-3080
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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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