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Property profile & analytics
FOR LEASE
Office buildings
400 Devon Park Dr Wayne, PA 19087
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-1815523
For Lease
1 / 3
$19,015,000
400 Devon Park Dr, Wayne, PA 19087
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
131,621 SF
Lot
10 ac (435,600 SF)
Zoning code
LI
APN
4306J00180200
UPID
US73-1815523
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
-
Vanguard Marketing Corporation Financial Advisor
-
Devon Construction Services Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$24.85M
Blend (final)
Blend
$19.02M
Owner & transaction history
Crefiv Mainstreet Devon Park Owner · 5 yrs held
Crefiv Mainstreet Devon Park Owner
since 2021
Last sale
$19.5M
6 recorded transactions
Zoning & alternative use
LI · Wayne, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$28.5M
+2.8%
Auto repair, garage
$28.1M
+1.5%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$20,130,000
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
$27,695,000
Current use
RESTAURANT
$28,475,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$28,120,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$24,985,000
Change: -10% · Conversion: Easy
COMMERCIAL (GENERAL)
$23,570,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$19.02M
Range $17.11M – $20.92M · ±10% · vs last sale $19.50M (Jun 8 2021)
Last sale anchor
$19.50M
Jun 8 2021
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
$144 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$191,892
Tax year 2024
Assessed value
$5,447,840
Assessed 2024
Previous assessed
$5,447,840
+0.0% YoY
Effective rate
3.52%
On assessed value
Assessed land
$975,000
Assessed improvement
$4,472,840
Land market value
$975,000
Improvement market value
$4,516,590
Total market value
$5,491,590
Applied tax rate
43.0000
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
For Lease
Year built
1975
Heating
YES
Cooling
CENTRAL
Total area
131,621 SF
Lot
10 ac (435,600 SF)
Zoning code
LI
APN
4306J00180200
UPID
US73-1815523
Jurisdiction
CHESTER
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
LI · Wayne, PA
Zoning LI · permitted uses
LI · Wayne, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$27.7M
RESTAURANT
Est. value
$28.5M
AUTO REPAIR, GARAGE
Est. value
$28.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$25.0M
COMMERCIAL (GENERAL)
Est. value
$23.6M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
1975
Heating
YES
Cooling
Yes
Lot
10 ac
Current owner
From public records · entity-resolved
Crefiv Mainstreet Devon Park Owner
Individual
Mailing address
2101 W COMMERCIAL BLVD STE #1200, FORT LAUDERDALE, FL 33309-3175
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2021
—
Crefiv Mainstreet Devon Park Owner
—
Deed
related
$22,685,000 · Midcap Financial Trust
Jun 8, 2021
$19,500,000
Crefiv Mainstreet Devon Park Owner
Victor J Maggitti JR
Special Warranty Deed
—
Apr 27, 2011
—
Victor J Maggitti JR.
—
Deed Of Trust
related
$11,000,000 · Union Security Insurance Co
—
—
Victor J Maggitti JR
—
Deed Of Trust
related
$12,400,000 · Miscellaneous Ins Co
—
—
Maggitti LLC
—
Deed Of Trust
related
$15,000,000 · Miscellaneous Ins Co
—
—
Victor J Maggitti
—
Deed Of Trust
related
$9,000,000 · Fortis Benefits Insurance Co
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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