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Property profile & analytics
FOR LEASE
Office buildings
2621 Van Buren Ave Norristown, PA 19403
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US73-1372702
For Lease
1 / 19
$22.50 SF/Yr
2621 Van Buren Ave, Norristown, PA 19403
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Total area
238,161 SF
Lot
12 ac (522,720 SF)
Zoning code
IP
APN
43-00-15403-00-7
UPID
US73-1372702
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Merkle Inc Advertising Agency Marketing & Advertising
-
AVO Training Institute Training Center
-
COMCAST CABLE Telecommunications Service
-
Monitoring Analytics, LLC Advertising Agency
-
CertaPro Painters Corporate Headquarters Painting Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.98M
Owner & transaction history
Ll 2621 Van Buren LLC · 6 yrs held
Ll 2621 Van Buren LLC
since 2019
7 recorded transactions
Zoning & alternative use
IP · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$75 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$248,237
Tax year 2023
Assessed value
$6,086,250
Assessed 2024
Previous assessed
$6,086,250
+0.0% YoY
Effective rate
4.08%
On assessed value
Total market value
$6,086,250
Applied tax rate
43.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1965
Heating
HOT WATER
Cooling
CENTRAL
Total area
238,161 SF
Lot
12 ac (522,720 SF)
Zoning code
IP
APN
43-00-15403-00-7
UPID
US73-1372702
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
IP · Norristown, PA
Zoning IP · permitted uses
IP · Norristown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1965
Heating
HOT WATER
Cooling
Yes
Lot
12 ac
Current owner
From public records · entity-resolved
Ll 2621 Van Buren LLC
Entity
Mailing address
330 EXETER RD, HAVERFORD, PA 19041-1085
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2019
$32,000,000
Ll 2621 Van Buren LLC
Van Buren Associates LLC
Grant Deed
related
$23,850,000 · Morgan Stanley Bk
May 25, 2016
$11,250,000
Van Buren Avenue Assocs LLC
General Electric Credits Equit
Grant Deed
—
Dec 10, 2015
$2,193
General Elec Cr Equities
Sheriff Of Montgomery County|2621 Van Buren LP
Trustees Deed
related
—
Jun 3, 2008
—
Van Buren Assocs
Van Buren Assocs
Quit Claim Deed
related
—
Jun 3, 2008
$25,250,000
2621 Van Buren
Van Buren Associates
Deed Of Trust
$21,725,000 · General Electric Capital Corp
—
—
Van Buren Associates
—
Deed Of Trust
related
$10,700,000 · Washington Mutual Fsb
—
—
Van Buren Associates LP
—
Deed Of Trust
related
$12,500,000 · Dime Cre INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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