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Property profile & analytics
OFF-MARKET
Estimated value
$41,175,000
Office buildings
466 Devon Park Dr Wayne, PA 19087-1816
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-2196201
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
153,470 SF
Lot
10 ac (435,600 SF)
Zoning code
LI
APN
4306K00660000
UPID
US73-2196201
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
-
Charles River Laboratory International, Inc Medical Laboratory
-
PPD Inc Drug Testing Service Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$39.60M
Comparable Approach
Comparable
$28.98M
Blend (final)
Blend
$41.18M
Owner & transaction history
Huspp Devon LLC · 3 yrs held
Huspp Devon LLC
since 2022
Last sale
$57.0M
7 recorded transactions
Zoning & alternative use
LI · Wayne, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$33.2M
+2.8%
Auto repair, garage
$32.8M
+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
$54,155,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$42,895,000
6.5%
$39,595,000
7%
$36,765,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$32,295,000
Current use
RESTAURANT
$33,200,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$32,790,000
Change: +2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$29,135,000
Change: -10% · Conversion: Easy
COMMERCIAL (GENERAL)
$27,485,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$41.18M
Range $37.06M – $45.29M · ±10% · vs last sale $57.00M (Jul 28 2022)
Last sale anchor
$57.00M
Jul 28 2022
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
$268 / 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
$196,288
Tax year 2024
Assessed value
$5,572,640
Assessed 2024
Previous assessed
$5,572,640
+0.0% YoY
Effective rate
3.52%
On assessed value
Assessed land
$975,000
Assessed improvement
$4,597,640
Land market value
$975,000
Improvement market value
$4,695,640
Total market value
$5,670,640
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
Off-Market
Year built
1975
Heating
HOT WATER
Cooling
CENTRAL
Total area
153,470 SF
Lot
10 ac (435,600 SF)
Zoning code
LI
APN
4306K00660000
UPID
US73-2196201
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
$32.3M
RESTAURANT
Est. value
$33.2M
AUTO REPAIR, GARAGE
Est. value
$32.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$29.1M
COMMERCIAL (GENERAL)
Est. value
$27.5M
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
HOT WATER
Cooling
Yes
Lot
10 ac
Current owner
From public records · entity-resolved
Huspp Devon LLC
Entity
Mailing address
555 13TH ST NW STE 400W, WASHINGTON, DC 20004-1132
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2022
$57,000,000
Huspp Devon LLC
Mh Devon Park LLC
Special Warranty Deed
—
Oct 29, 2020
—
Mh Devon Park LLC
—
Deed
related
$28,770,000 · Tristate Capital Bank
Mar 30, 2018
—
Mh Devon Park LLC
—
Grant Deed
related
$10,185,000 · Tristate Cap Bk
Aug 2, 2016
$7,900,000
Mh Devon Park LLC
Merck Sharp & Dohme Corp
Grant Deed
—
Dec 26, 2013
$8,651,000
Merck Sharp & Dohme Corp
Ppd Vaccines & Biologics LLC
Grant Deed
—
May 8, 2013
—
Ppd Vaccines & Biologics LLC
—
Loan Modification
related
$1,630,000,000 · Credit Suisse Ag
Mar 9, 2012
—
Ppd Vaccines & Biologics LLC
—
Deed Of Trust
related
$1,625,000 · Credit Suisse Ag
Jan 5, 2009
$10,080,100
Ppd Vaccines & Biologics LLC
Merck & Co INC
Grant Deed
—
Apr 20, 2001
$15,736,000
Merck & Co INC
Nycomed INC
Grant Deed
—
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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