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

    350 Ml Rd Kennett Square, PA 19348

    • Warehouses
    • 8,556 SF
    • 1.40 lot acres
    OFF-MARKET
    Last Sale
    Jan 10, 2022
    $1,200,000
    Value Estimations
    $1,305,000
    Show details
    Cap Rate Potential
    6.5%
    Warehouses
    Location Intelligence
    Property ID
    US73-2311454
    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

    • Warehouses

    Property Details for 350 Ml Rd

    Year built
    1952
    Lot size
    1.40 lot acres
    Property size
    8,556 SF
    Zone code
    R4
    Property type
    Warehouses
    APN
    6203 00600000
    APU
    620300600000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,350,000
      ML approach
      $1,240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,460,000
      6.5%
      $1,345,000
      7%
      $1,250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,078,000
      Market price range: $513k - $2.05M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,145,000
      Current use
      COMMERCIAL (GENERAL)
      $1,950,000
      Change: +71% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,830,000
      Change: +60% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,625,000
      Change: +42% Conversion: Difficult
      OFFICE BUILDING
      $1,290,000
      Change: +13% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,085,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennett Square
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.7228
    Latitude
    39.8495
    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
    $11,060
    $66,040
    $205,170
    $271,210
    -
    $66,040
    $227,580
    $293,620

    Comparable in this City

    • Value Estimation
      $550,000
      11,700 SF

      431 Mcfarlan Rd

      WAREHOUSE, STORAGE • 11,700 SF
      431 Mcfarlan Rd, Kennett Square, PA 19348-2691
      View Details
    • Value Estimation
      $320,000
      6,105 SF

      289 Upland Rd

      WAREHOUSE, STORAGE • 6,105 SF
      289 Upland Rd, Kennett Square, PA 19348
      View Details
    • Value Estimation
      $310,000
      1,680 SF

      515 Broad St, Unit 2

      WAREHOUSE, STORAGE • 1,680 SF
      515 Broad St, Kennett Square, PA 19348-3369
      View Details
    • Value Estimation
      $355,000
      2,520 SF

      461 Birch St

      WAREHOUSE, STORAGE • 2,520 SF
      461 Birch St, Kennett Square, PA 19348
      View Details
    • Value Estimation
      $600,000
      19,659 SF

      301 Cedar St

      WAREHOUSE, STORAGE • 19,659 SF
      301 Cedar St, Kennett Square, PA 19348-3246
      View Details
    • Value Estimation
      $710,000
      31,003 SF

      708 Terminal Way

      WAREHOUSE, STORAGE • 31,003 SF
      708 Terminal Way, Kennett Square, PA 19348-3660
      View Details

    Similar Nearby for Sale

    • $549,900

      Magnolia Place Townhouse in Kennett

      Townhouse with 3 bedrooms, hardwood floors, and outdoor spaces.
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      Income Producing Buildings For Sale

      Four income-producing buildings on 0.51 acres near downtown.
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    • $637,500
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      ADA Accessible Medical/Office Building

      2,500 SF building ideal for medical or office use.
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    • $7,000,000
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      Retail Property in Kennett Square

      Leased retail property with long-term tenants in prime location.
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    Similar Nearby for Lease

    • Contact for pricing
      9,800 SF

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in-doors.
      210 Gale Ln, Kennett Square, PA 19348
      View Details
    • Contact for pricing

      Kennett Square Commercial Land Opportunity

      2.82 Acres, Multi-Use Zoning
      718 Baltimore Ave, Kennett Square, PA 19348
      View Details
    • $975 /Mo
      600 SF

      Downtown Kennett Square Office Space

      600 SF office space in Kennett Square Borough.
      101 E State St, Kennett Square, PA 19348
      View Details
    • Contact for pricing
      20,000 SF

      Retail/Office/Medical Build-to-Suit Opportunity

      Up to 20,000 SF available for retail, office, or medical.
      804 E Baltimore Pike, Kennett Square, PA 19348
      View Details
    • $25 SF/Yr
      13,705 SF

      Mixed-Use Development Retail Space

      Retail and office spaces available in new mixed-use development.
      660 E Cypress St, Kennett Square, PA 19348
      View Details
    • $22 SF/Yr
      22,500 SF

      404 Mcfarlan Rd

      Medical offices • 22,500 SF
      404 Mcfarlan Rd, Kennett Square, PA 19348
      View Details
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    350 Ml Rd
    Kennett Square, PA 19348
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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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