Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2622 Swede Rd East Norriton, PA 19401-1772
    Back to Search
    Property profile & analytics

    2622 Swede Rd, East Norriton, PA 19401-1772

    View on Map
    • Garden apartment buildings
    • 175,788 SF
    • 25.02 lot acres
    Off-Market
    Last Sale Mar 28, 2022
    Property ID
    US73-2011490
    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
    $14,415,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rolling Green Apartments / Apartment Building / Apartment Complex
    • In Home Drum, Guitar, Piano, Violin, and Voice Lessons. Eastern Pa / Tutoring Service
    • Clean Pro Carpet Steam Cleaning.....Norristown / Carpet Cleaning Service / Upholstery Cleaning Service
    • Just Cafe / Cafe & Coffee Shop

    Property Details for 2622 Swede Rd

    Year built
    1963
    Lot size
    25.02 lot acres
    Zone code
    GA
    Property type
    Garden apartment buildings
    APN
    33-00-09103-00-8
    APU
    330009103008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 28, 2022 — Rolling Green Owner LLC Rg Propco LLC Special Warranty Deed $20.7M · Bds IV Mortgage Capital B LLC
    Aug 27, 2019 $8,769,600 Rg-propco LLC Rolling Green Partners Trustees Deed $61.7M · Cred Reit Holdco LLC
    Dec 31, 2012 — Rolling Green Partners — Deed Of Trust · related $7.5M · Private Lender
    — — Rolling Green Partners — Deed Of Trust · related $623k · Sunamerica Life Insurance Co
    — — Rolling Green Partners — Deed Of Trust · related $6.5M · Private Lender

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $22,910,000

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

    Location Insight

    • Map
    • Local Demand
    City
    East Norriton
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3228
    Latitude
    40.1409
    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
    $203,511
    $0.00
    $0.00
    $4,320,000
    -
    $0.00
    $0.00
    $4,320,000

    Comparable in this City

    • Value Estimation
      $3,500,000
      31,740 SF

      841 Smith St

      GARDEN APT, COURT APT (5+ UNITS)
      841 Smith St, Norristown, PA 19401-4048
      View Details
    • Value Estimation
      $27,420,000
      311,784 SF

      901 Forrest Ave, Unit 1

      GARDEN APT, COURT APT (5+ UNITS)
      901 Forrest Ave, Norristown, PA 19401
      View Details
    • Value Estimation
      $30,960,000
      334,104 SF

      450 Forrest Ave

      GARDEN APT, COURT APT (5+ UNITS)
      450 Forrest Ave, Norristown, PA 19401-5600
      View Details
    • Value Estimation
      $3,050,000
      37,072 SF

      1420 Arch St, Unit 1432

      GARDEN APT, COURT APT (5+ UNITS)
      1420 Arch St, Norristown, PA 19401-3574
      View Details
    • Value Estimation
      $42,170,000
      320,804 SF

      1000 Regatta Cir

      GARDEN APT, COURT APT (5+ UNITS)
      1000 Regatta Cir, Norristown, PA 19401-6202
      View Details
    • Value Estimation
      $22,760,000
      183,264 SF

      2920 Hannah Ave

      GARDEN APT, COURT APT (5+ UNITS)
      2920 Hannah Ave, Norristown, PA 19401-1576
      View Details

    Similar Nearby for Sale

    • $334,900
      3,346 SF

      Norristown Mixed-Use Investment Opportunity

      Mixed-use property with restaurant and apartment in revitalizing downtown.
      254 E Main St, Norristown, PA 19401
      View Details
    • $400,000
      3,352 SF

      Norristown Triplex Renovation Opportunity

      Triplex in Norristown, PA needing total renovation or redevelopment.
      1009 Dekalb St, Norristown, PA 19401
      View Details
    • $240,000
      2,430 SF

      Norristown Duplex: Investment Opportunity

      Three-story duplex in Norristown, Pennsylvania, with detached garage.
      1424 Powell St, Norristown, PA 19401
      View Details
    • $250,000
      2,448 SF

      Norristown Triplex with Off-Street Parking

      Turnkey triplex in Norristown with off-street parking and long-term tenants.
      151 West Airy St, Norristown, PA 19401
      View Details
    • $249,900
      1,368 SF

      Norristown Duplex Investment Opportunity

      Duplex with separate utilities near transportation, shopping, and entertainment.
      332 Green St, Norristown, PA 19401
      View Details
    • $265,000
      1,794 SF

      Norristown Duplex: Investment Opportunity

      Well-maintained duplex in Norristown, PA, near transportation and amenities.
      525 Kohn St, Norristown, PA 19401
      View Details

    Similar Nearby for Lease

    • $350 /Mo

      Norristown Office Suites For Lease

      Professional office suites in a centrally located Norristown building.
      20 W Main St W, Norristown, PA 19401
      View Details
    • Contact for pricing

      Downtown Retail/Mixed-Use Land Opportunity

      0.75-acre land for retail or mixed-use development in Norristown.
      82 E Main St, Norristown, PA 19401
      View Details
    • Contact for pricing
      19,500 SF

      Retail End Cap for Sublease

      19,448 SF end cap in busy shopping center.
      2832-2888 Dekalb Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      2,480 SF

      Norristown Retail Space for Lease

      Retail space in Keystone Enterprise Zone, Main Street Economic Initiative.
      133 W Main St, Norristown, PA 19401
      View Details
    • Contact for pricing

      Industrial Space in Norristown

      Industrial space available for lease in Norristown, Pennsylvania.
      1210 Stanbridge St, Norristown, PA 19401
      View Details
    • Contact for pricing

      Norristown Retail Space Available

      Retail spaces available, ranging from 8,453 to 11,138 SqFt.
      2811 Dekalb Pike, Norristown, PA 19401
      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.
    2622 Swede Rd
    East Norriton, PA 19401-1772
    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

    Thank You for Inquiry
    2622 Swede Rd, East Norriton, PA, 19401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!