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    2924 Swede Rd East Norriton, PA 19401-1336
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    Property profile & analytics

    2924 Swede Rd, East Norriton, PA 19401-1336

    View on Map
    • Office buildings
    • 5,334 SF
    • 0.34 lot acres
    Off-Market
    Property ID
    US73-1997092
    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
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Joseph L. Grisafi, MD / Physician / Hospital
    • Artery and Vein Institute / Physician / Hospital
    • Westley Mark Smith / Physician / Hospital
    • Mr. Westley Smith / Physician / Hospital

    Property Details for 2924 Swede Rd

    Year built
    1945
    Lot size
    0.34 lot acres
    Zone code
    C
    Property type
    Office buildings
    APN
    33-00-09055-00-2
    APU
    330009055002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 22, 2015 $400,000 Leo Group Properties LLC Korkus Michael J & Jane A Grant Deed $432k · Citizens Bk/pa
    Nov 21, 2008 — Michael J Korkus — Trustees Deed · related $130k · Harleysville Savings Bank
    Dec 22, 1998 $151,079 Michael J Korkus Korkus,george A Grant Deed · related $304k · Madison Bank
    — — Michael J Korkus — Deed Of Trust · related $652k · Harleysville Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $585,000
      Market price range: $583k - $1.42M
      AI Estimate
      $491,000
      Market price range: $287k - $1.51M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $840,000
      APARTMENT HOUSE (5+ UNITS)
      $770,000
      RESTAURANT
      $750,000

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

    Location Insight

    • Map
    • Local Demand
    City
    East Norriton
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3165
    Latitude
    40.1467
    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
    $12,576
    $0.00
    $0.00
    $266,950
    -
    $0.00
    $0.00
    $266,950

    Comparable in this City

    • Value Estimation
      $1,485,000
      15,260 SF

      1961 New Hope St

      OFFICE BUILDING
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    • Value Estimation by Request

      425 Swede St

      OFFICE BUILDING
      425 Swede St, Norristown, PA 19401
      View Details
    • Value Estimation
      $7,755,000
      70,173 SF

      1945 New Hope St

      OFFICE BUILDING
      1945 New Hope St, Norristown, PA 19401
      View Details
    • Value Estimation
      $2,890,000
      23,373 SF

      400 Cherry St, Unit 408

      OFFICE BUILDING
      400 Cherry St, Norristown, PA 19401-4735
      View Details
    • Value Estimation
      $825,000
      10,134 SF

      2941 Felton Rd

      PROFESSIONAL BUILDING
      2941 Felton Rd, Norristown, PA 19401-1345
      View Details
    • Value Estimation by Request
      4,208 SF

      410 Johnson Hwy

      PROFESSIONAL BUILDING
      410 Johnson Hwy, Norristown, PA 19401-3122
      View Details

    Similar Nearby for Sale

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      6,000 sqft office building available for purchase.
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    • $474,900
      0.09 Acres

      Updated Office Building in Norristown

      Move-in ready office building with separate utilities and off-street parking.
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      View Details
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      For-Sale Office Building

      Well-suited as a private office asset, offered for sale at 529 Swede St in Norristown.
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      View Details
    • Contact for pricing
      2,888 SF

      Mixed-Use Building in Norristown

      Three-story, 2,888 SF mixed-use building on 9,000 SF lot.
      317 W Johnson Hwy, Norristown, PA 19401
      View Details
    • Contact for pricing
      8,000 SF

      Renovated Flex/Studio Space For Sale

      Recently renovated 8,000 SF flex/studio space near transportation.
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    • Contact for pricing

      Office-Warehouse Building on Beech Street

      7,795 SF office-warehouse building with frontage on Beech Street.
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    Similar Nearby for Lease

    • $10 SF/Yr
      2,252 SF

      Norristown Office Building For Lease

      Office building for lease, ideal for professional businesses.
      541-543 Swede St, Norristown, PA 19401
      View Details
    • Contact for pricing
      57,000 SF

      East Norriton Office Space Available

      57,000 SF office space for rent in East Norriton.
      301 East Germantown Pike, East Norriton, PA 19401
      View Details
    • Contact for pricing
      3,514 SF

      Norristown Office Space For Lease

      Office suites available for lease with build-to-suit options.
      320 E Johnson Hwy, Norristown, PA 19401
      View Details
    • Contact for pricing
      2,400 SF

      Norristown Office Space Available

      Recently renovated office space with modern amenities for rent.
      20 W Main St, Norristown, PA 19401
      View Details
    • $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
      4,734 SF

      Class A Medical Office Space

      Medical and office space for lease with abundant parking.
      160 W Germantown Pike, Norristown, PA 19401
      View Details
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    East Norriton, PA 19401-1336
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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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