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

    347 Conestoga Rd Wayne, PA 19087-2547

    • Office buildings
    • 6,808 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2022
    $1,630,575
    Value Estimations
    $1,640,000
    Show details
    Cap Rate Potential
    7.4%
    Office buildings
    Location Intelligence
    Property ID
    US73-1533553
    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

    • Vaughan & Sautter Builders - Awards / Contractor
    • Crimson Review / Tutoring Service
    • Vaughan Building Company / Construction Company
    • Heckendorn Shiles Architects / Interior Designer / Architect
    • Vaughan Realty Corporation / Real Estate Agency

    Property Details for 347 Conestoga Rd

    Year built
    1984
    Lot size
    0.29 lot acres
    Property size
    6,808 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    4311F01720000
    APU
    4311F01720000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,550,000
      ML approach
      $1,645,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,905,000
      6.5%
      $1,755,000
      7%
      $1,630,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,285,000
      Market price range: $1.29M - $1.56M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,435,000
      Current use
      RESTAURANT
      $1,475,000
      Change: +3% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,455,000
      Change: +2% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,290,000
      Change: -10% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,220,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.408
    Latitude
    40.0481
    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
    2024
    $19,181
    $64,640
    $479,914
    $544,554
    -
    $64,640
    $487,264
    $551,904

    Comparable in this City

    • Value Estimation
      $12,490,000
      87,930 SF

      595 Swedesford Rd, Unit 100

      OFFICE BUILDING • 87,930 SF
      595 Swedesford Rd, Wayne, PA 19087-1615
      View Details
    • Value Estimation
      $19,315,000
      129,200 SF

      1041 Vly Rd

      OFFICE BUILDING • 129,200 SF
      1041 Vly Rd, Wayne, PA 19087-1819
      View Details
    • Value Estimation
      $10,185,000
      69,672 SF

      575 Swedesford Rd Ste, Unit 208

      OFFICE BUILDING • 69,672 SF
      575 Swedesford Rd Ste, Wayne, PA 19087-1613
      View Details
    • Value Estimation
      $8,210,000
      65,664 SF

      1275 Drummers Ln Ste, Unit 210

      OFFICE BUILDING • 65,664 SF
      1275 Drummers Ln Ste, Wayne, PA 19087-1571
      View Details
    • Value Estimation
      $1,770,000
      11,232 SF

      305 Lancaster Ave

      PROFESSIONAL BUILDING • 11,232 SF
      305 Lancaster Ave, Wayne, PA 19087
      View Details
    • Value Estimation
      $4,360,000
      34,740 SF

      601 Lee Rd

      OFFICE BUILDING • 34,740 SF
      601 Lee Rd, Chesterbrook, PA 19087-5605
      View Details

    Similar Nearby for Sale

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      7,600 SF

      Wayne Office Building For Sale

      Two-story office building in Wayne with Route 30 exposure.
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      Single-User Office Building in Wayne

      5,775 SF office building with modern finishes and exposed brick.
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      Chesterbrook Corporate Center Office Building

      Meticulously maintained office building in Chesterbrook Corporate Center.
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      1,400 SF

      Office Condo For Sale

      Office condo with direct entry and highway access.
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      View Details
    • $700,000
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      Wayne Mixed-Use Commercial Property

      Live & Work in Prime Wayne Location
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      this property beckons visionary buyers ready to restore and rejuvenate. The seller is motivated\u00e2\u0080\u0094seize this opportunity and present your offer today!""""}"""

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    Similar Nearby for Lease

    • Contact for pricing
      233,120 SF

      Chesterbrook Premier HQ Office Sublease

      Sublease opportunity in Chesterbrook, Wayne, PA, offering premier office space.
      1500-1550 Liberty Ridge Dr, Wayne, PA 19087
      View Details
    • $5,279 /Mo

      Main Line Office Opportunity

      Freestanding office building with frontage on Lancaster Avenue.
      528 E Lancaster Ave, Wayne, PA 19087
      View Details
    • Contact for pricing
      1,850 SF

      Modern Office Space with Amenities

      Office space with coworking, fitness center, and outdoor amenities.
      150 N Radnor Chester Rd, Wayne, PA 19087
      View Details
    • Contact for pricing
      25,416 SF

      Chesterbrook Office Space Available

      Office space for lease in Chesterbrook, Wayne, Pennsylvania.
      640 Lee Rd, Chesterbrook, PA 19087
      View Details
    • Contact for pricing
      20,007 SF

      Office Space in Chesterbrook

      Office space available for lease in Wayne, Pennsylvania.
      600 Lee Rd, Wayne, PA 19087
      View Details
    • $22 SF/Yr
      2,200 SF

      Wayne Office/Medical Space Available

      Two-story office/medical building with space for rent near Route 30.
      351 E Conestoga Rd, Wayne, PA 19087
      View Details
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    347 Conestoga Rd
    Wayne, PA 19087-2547
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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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