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Property profile & analytics
OFF-MARKET
Estimated value
$197,440,000
Office buildings
351 Sumneytown Pike North Wales, PA 19454-2505
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US73-3056957
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Total area
1,310,633 SF
Lot
91.78 ac (3,997,937 SF)
Zoning code
LI
APN
56-00-08257-00-3
UPID
US73-3056957
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Merck & Co. Inc Factory Production Facility
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$192.07M
Blend (final)
Blend
$197.44M
Owner & transaction history
Merck Sharp & Dohme Corp · 7 yrs held
Merck Sharp & Dohme Corp
since 2019
5 recorded transactions
Zoning & alternative use
LI · North Wales, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs North Wales submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Wales submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$214,445,000
Current use
MEDICAL BUILDING
$206,580,000
Change: -4% · Conversion: Easy
RESTAURANT
$183,960,000
Change: -14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$182,165,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$197.44M
Range $177.70M – $217.18M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$151 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,991,862
Tax year 2023
Assessed value
$108,804,170
Assessed 2024
Previous assessed
$108,804,170
+0.0% YoY
Effective rate
3.67%
On assessed value
Total market value
$108,804,170
Applied tax rate
56.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
CENTRAL
Total area
1,310,633 SF
Lot
91.78 ac (3,997,937 SF)
Zoning code
LI
APN
56-00-08257-00-3
UPID
US73-3056957
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
LI · North Wales, PA
Zoning LI · permitted uses
LI · North Wales, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Wales. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$214.4M
MEDICAL BUILDING
Est. value
$206.6M
RESTAURANT
Est. value
$184.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$182.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
FORCED AIR
Cooling
Yes
Lot
91.78 ac
Current owner
From public records · entity-resolved
Merck Sharp & Dohme Corp
Entity
Free & Clear · 7 yrs held
Mailing address
2000 GALLOPING HL RD, KENILWORTH, NJ 07033-1310
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2019
—
Merck Sharp & Dohme Corp
Merck Sharp & Dohme Corp
Correction Deed
related
—
Sep 3, 1997
$17,100,000
Merck & Co INC
North Wales Associates LP
Grant Deed
—
May 6, 1997
—
Nomura Asset Capital Corp
Noarth Wales Associates LP
Trustees Deed
related
—
May 6, 1997
$5,175,000
North Whales Associates LP
Leeds & Northrup Co
Trustees Deed
related
—
—
—
North Wales Associates LP
—
Deed Of Trust
related
$9,227,484 · Nomura Asset Capital Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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