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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Office Spaces
490 Norristown Rd 2 Blue Bell, PA 19422-2350
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-6000299
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1990
Total area
8,492 SF
Lot
0.19 ac (8,492 SF)
Zoning code
C1
APN
66-00-04723-30-5
UPID
US73-6000299
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
-
Walton Point Executive Center Real Estate Agency
-
HopDial Phone Systems Telecommunications Service
-
Segal Financial Bank Credit Union
-
Jennifer Lee - State Farm Insurance Agent Insurance Agency
-
Gary Itzenson Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.18M
Owner & transaction history
Matrix Venture Cap Mgmt Ltd · 9 yrs held
Matrix Venture Cap Mgmt Ltd
since 2017
7 recorded transactions
Zoning & alternative use
C1 · Blue Bell, 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 Blue Bell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Blue Bell 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
$1,390,000
Current use
MEDICAL BUILDING
$1,340,000
Change: -4% · Conversion: Easy
RESTAURANT
$1,190,000
Change: -14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,180,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$138 / 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
$19,280
Tax year 2023
Assessed value
$610,780
Assessed 2024
Previous assessed
$610,780
+0.0% YoY
Effective rate
3.16%
On assessed value
Assessed land
$201,690
Assessed improvement
$409,090
Land market value
$201,690
Improvement market value
$409,090
Total market value
$610,780
Applied tax rate
66.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1990
Heating
HEAT PUMP
Cooling
CENTRAL
Total area
8,492 SF
Lot
0.19 ac (8,492 SF)
Zoning code
C1
APN
66-00-04723-30-5
UPID
US73-6000299
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Blue Bell, PA
Zoning C1 · permitted uses
C1 · Blue Bell, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Blue Bell. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
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
1990
Heating
HEAT PUMP
Cooling
Yes
Lot
0.19 ac
Current owner
From public records · entity-resolved
Matrix Venture Cap Mgmt Ltd
Entity
Mailing address
490 NORRISTOWN RD STE #150, BLUE BELL, PA 19422-2350
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2017
$2,685,000
Matrix Venture Cap Mgmt Ltd
Walton Point Sms LP
Grant Deed
—
Sep 18, 2015
$3,500,000
Walton Point Sms LP
Series C Clarendon Real Estate LLC
Deed
—
Feb 4, 2015
—
Series C-clarendon R & E LLC
Office Court At Walton Pt Ptrs
Deed In Lieu Of Foreclosure
related
—
Sep 12, 2007
—
Office Court At Walton Pt LLC
Office Court Of Walton Pt LLC
Quit Claim Deed
related
—
—
—
Office Court At Walton Pt Ptrs
—
Deed Of Trust
related
$6,200,000 · John Hancock Life Insurance Co
—
—
Office Court At Wings Partners
—
Deed Of Trust
related
$240,000 · Harleysville Nat'l Bank & Trus
—
—
Office Court Walton Point
—
Deed Of Trust
related
$5,500,000 · Boston Capital Mortgage Co LP
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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