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Property profile & analytics
OFF-MARKET
Estimated value
$23,015,000
Garden apartment buildings
3855 Blair Ml Rd Horsham, PA 19044-2998
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2962613
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Total area
182,364 SF
Lot
21.06 ac (917,374 SF)
Zoning code
M
APN
59-00-12742-00-6
UPID
US73-2962613
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
-
Catherine A. Leone, PTA Physician
-
Blair Mill Village East Apartment Homes Apartment Complex
-
Nwani Advanced Care LLC Home Health Care Service
-
Handy Harry’s Hardware & Home Improvement General Contractor
-
Blair mill office building 249 Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.02M
Owner & transaction history
Blair Mill Village East Pa Owner Ll · 2 yrs held
Blair Mill Village East Pa Owner Ll
since 2024
4 recorded transactions
Zoning & alternative use
M · Horsham, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$29.8M
+17.7%
Medical building
$28.7M
+13.4%
Restaurant
$25.6M
+1.0%
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 Horsham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Horsham 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
APARTMENT HOUSE (5+ UNITS)
$25,345,000
Current use
OFFICE BUILDING
$29,840,000
Change: +18% · Conversion: Moderate
MEDICAL BUILDING
$28,745,000
Change: +13% · Conversion: Moderate
RESTAURANT
$25,595,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$23,770,000
Change: -6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$20,395,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$23.02M
Range $20.71M – $25.32M · ±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
$126 / 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
$399,775
Tax year 2023
Assessed value
$8,410,640
Assessed 2024
Previous assessed
$8,410,640
+0.0% YoY
Effective rate
4.75%
On assessed value
Total market value
$8,410,640
Applied tax rate
59.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
144
Total area
182,364 SF
Lot
21.06 ac (917,374 SF)
Zoning code
M
APN
59-00-12742-00-6
UPID
US73-2962613
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
M · Horsham, PAZoning M · permitted uses
M · Horsham, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$25.3M
OFFICE BUILDING
Est. value
$29.8M
MEDICAL BUILDING
Est. value
$28.7M
RESTAURANT
Est. value
$25.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$23.8M
INDUSTRIAL (GENERAL)
Est. value
$20.4M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1972
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
144
Lot
21.06 ac
Current owner
From public records · entity-resolved
Blair Mill Village East Pa Owner Ll
Individual
Mailing address
409 STENTON AVE, FLOURTOWN, PA 19031-1327
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2024
—
Blair Mill Village East Pa Owner Ll
Blair Mill Associaties
Intrafamily Transfer
related
$92,892,000 · Newpoint Real Estate Capital LLC
Jul 2, 2008
—
Blair Mill Assocs
Blair Mill Assocs
Quit Claim Deed
related
—
Jan 9, 1998
—
Blair Mill Associates
—
Deed Of Trust
related
$33,200,000 · Legg Mason Real Estate Svcs
—
—
Blair Mill Associates
—
Deed Of Trust
related
$78,800,000 · Northmarq Cap
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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