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

    304 Old Lancaster Rd Merion Station, PA 19066-1555

    • Apartment buildings
    • 13,467 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2023
    $3,400,000
    Value Estimations
    $3,175,000
    Show details
    Cap Rate Potential
    4.9%
    Apartment buildings
    Location Intelligence
    Property ID
    US73-5808658
    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

    • Floor Coverings International Mainline / Tile Store / Wood Floor Installation Service
    • Sycamore Court Apartments / Apartment Building
    • PaleoWest / Association / Organization

    Property Details for 304 Old Lancaster Rd

    Year built
    1950
    Lot size
    0.46 lot acres
    Property size
    13,467 SF
    Zone code
    R7
    Property type
    Apartment buildings
    APN
    40-00-44140-00-1
    APU
    400044140001

    Description

    This exceptional 17,000 square foot, three-story Class B commercial building, located at 304 Old Lancaster Road, Bala Cynwyd, offers a unique leasing opportunity. Built in 1970 and extensively renovated in 2021, the property boasts 20 suites, with one immediately available space of 900 square feet. The minimum divisible space is 900 square feet, and the maximum contiguous space available is also 900 square feet. The building is ideally situated at the corner of Old Lancaster Road and Montgomery Avenue, providing excellent visibility and accessibility. Its convenient location offers easy access to local restaurants and a SEPTA bus stop directly at the corner. Ample onsite parking is available (12+ spaces). The property is zoned commercial and falls within the Merion submarket cluster. The building is suitable for a variety of uses, including retail and office space, making it an attractive option for businesses seeking a well-maintained and conveniently located space. The building does not have elevators. This is a multi-tenant building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,030,000
      6.5%
      $2,800,000
      7%
      $2,600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,580,000
      Market price range: $1.07M - $2.58M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,980,000
      RETAIL STORES
      $3,625,000
      OFFICE BUILDING
      $2,205,000
      MEDICAL BUILDING
      $2,125,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Merion Station
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.2428
    Latitude
    40.0047
    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
    $39,368
    $0.00
    $0.00
    $942,650
    -
    $0.00
    $0.00
    $942,650

    Comparable in this City

    • Value Estimation
      $1,510,000
      10,489 SF

      31 Wynnewood Rd

      SHOPPING CENTER, STRIP CENTER • 10,489 SF
      31 Wynnewood Rd, Merion Station, PA 19066-1625
      View Details
    • Value Estimation by Request
      2,484 SF

      356 Montgomery Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,484 SF
      356 Montgomery Ave, Merion Station, PA 19066-1202
      View Details
    • Value Estimation
      $795,000
      5,600 SF

      362 Montgomery Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,600 SF
      362 Montgomery Ave, Merion Station, PA 19066-1202
      View Details
    • Value Estimation
      $2,765,000
      140,020 SF

      701 City Ave

      COLLEGE, UNIVERSITY, VOC SCHOOL • 140,020 SF
      701 City Ave, Merion Station, PA 19066-1637
      View Details
    • Value Estimation
      $2,185,000
      26,941 SF

      625 Hazelhurst Ave

      CHARITABLE ORGANIZATION • 26,941 SF
      625 Hazelhurst Ave, Merion Station, PA 19066-1439
      View Details
    • Value Estimation
      $545,000
      3,800 SF

      350 Montgomery Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,800 SF
      350 Montgomery Ave, Merion Station, PA 19066-1202
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,564 SF

      Retail Space in Wynnewood

      Retail space available in April 2026 in Merion Station, PA.
      31 E Wynnewood Rd, Merion Station, PA 19066
      View Details
    • $3,800 /Mo
      2,614 SF

      Prime Commercial Space on Montgomery

      Highly visible commercial space in the heart of Merion Station.
      350 Montgomery Ave, Merion Station, PA 19066
      View Details
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    304 Old Lancaster Rd
    Merion Station, PA 19066-1555
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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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