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

    331 Hanover St Pottstown, PA 19464-5363

    • Garden apartment buildings
    • 71,362 SF
    • 3.81 lot acres
    OFF-MARKET
    Value Estimations
    $9,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1099360
    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

    • Hanover Manor / Real Estate Agency

    Property Details for 331 Hanover St

    Year built
    1965
    Lot size
    3.81 lot acres
    Property size
    71,362 SF
    Zone code
    RMHD
    Property type
    Garden apartment buildings
    APN
    16-00-12540-00-8
    APU
    160012540008

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,469,000
      Market price range: $5.68M - $13.7M
      AI Estimate
      $6,722,000
      Market price range: $2.07M - $8.15M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $9,920,000
      Current use
      OFFICE BUILDING
      $11,675,000
      Change: +18% Conversion: Moderate
      MEDICAL BUILDING
      $11,250,000
      Change: +13% Conversion: Moderate
      RESTAURANT
      $10,015,000
      Change: +1% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $9,300,000
      Change: -6% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $7,980,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pottstown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.6477
    Latitude
    40.2523
    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
    $141,859
    $0.00
    $0.00
    $2,311,400
    -
    $0.00
    $0.00
    $2,311,400

    Comparable in this City

    • Value Estimation
      $3,160,000
      44,928 SF

      941 Warren St

      GARDEN APT, COURT APT (5+ UNITS) • 44,928 SF
      941 Warren St, Pottstown, PA 19464-4111
      View Details
    • Value Estimation
      $5,425,000
      31,680 SF

      201 Jay St

      GARDEN APT, COURT APT (5+ UNITS) • 31,680 SF
      201 Jay St, Stowe, PA 19464-3766
      View Details
    • Value Estimation
      $2,720,000
      11,820 SF

      926 Warren St

      GARDEN APT, COURT APT (5+ UNITS) • 11,820 SF
      926 Warren St, Pottstown, PA 19464-4152
      View Details
    • Value Estimation
      $9,940,000
      67,850 SF

      422 Upland St

      GARDEN APT, COURT APT (5+ UNITS) • 67,850 SF
      422 Upland St, Pottstown, PA 19464-5160
      View Details
    • Value Estimation
      $5,785,000
      65,220 SF

      456 Elm St

      GARDEN APT, COURT APT (5+ UNITS) • 65,220 SF
      456 Elm St, Pottstown, PA 19464-6293
      View Details
    • Value Estimation
      $1,580,000
      4,620 SF

      321 Lemon St

      GARDEN APT, COURT APT (5+ UNITS) • 4,620 SF
      321 Lemon St, Stowe, PA 19464-6559
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,804 SF

      Pottstown Investment Opportunity: Pub & Apartments

      Turn-key bar/restaurant with apartments and commercial space for sale.
      978 E High St, Pottstown, PA 19464
      View Details
    • $1,475,000
      10,400 SF

      Mixed-Use Commercial Property For Sale

      High-visibility property with retail, residential, and potential income sources.
      2933 E High St, Pottstown, PA 19464
      View Details
    • $325,000
      2,232 SF

      Fully Leased Mixed-Use Investment Property

      Three-unit mixed-use property with diversified revenue and strong cash flow.
      36 E 3Rd St, Pottstown, PA 19464
      View Details
    • New
      $350,000
      2,351 SF

      Pottstown Income Producing Duplex

      Fully rented duplex near downtown Pottstown, great investment opportunity.
      1240 E High St, Pottstown, PA 19464
      View Details
    • $269,900
      1,813 SF

      Pottstown Investment Property For Sale

      Three-unit multifamily property in Pottstown, PA with income potential.
      33 Beech St, Pottstown, PA 19464
      View Details
    • $895,000
      19,136 SF

      Pottstown Office Complex - Great ROI

      17-Unit Brick Office Building, High Occupancy
      100 Porter Rd, Pottstown, PA 19464
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo

      Updated Apartment Near Pottstown School

      Charming 2-bedroom apartment with backyard access, convenient location.
      524 N Franklin St St, Pottstown, PA 19464
      View Details
    • $546 /Mo
      90,169 SF

      Pottstown Office Suite For Lease

      Bright, updated office suite in professional building, move-in ready.
      1200 E High St, Pottstown, PA 19464
      View Details
    • Contact for pricing
      46,153 SF

      Pottstown Industrial Space with Cranes

      46,153 SF industrial space featuring cranes and multiple loading.
      449 Old Reading Pike, Pottstown, PA 19464
      View Details
    • Contact for pricing
      1,860 SF

      Retail Space in Downtown Pottstown

      Retail space for lease in downtown Pottstown with drive-in door.
      133 E High St, Pottstown, PA 19464
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Community Center

      Retail space available within a community shopping center.
      1300 N Charlotte St, Pottstown, PA 19464
      View Details
    • Contact for pricing
      2,584 SF

      Pottstown Retail Space For Lease

      Prime Pottstown storefront, 2,584 sq ft.
      207 High St, Pottstown, PA 19464
      View Details
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    Pottstown, PA 19464-5363
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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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