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    515 Pennsylvania Ave Fort Washington, PA 19034-3314

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    515 Pennsylvania Ave Fort Washington, PA 19034-3314

    View on Map
    • Office buildings
    • 83,998 SF
    • 4.42 lot acres
    Off-Market
    Property ID
    US73-1277166
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $8,980,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Christine M. Jones, MD / Physician / Medical Clinic
    • Temple Health Ft. Washington / Medical Clinic
    • Amtech Automation / Production Facility
    • Yi Zhang, MD, PhD / Ophthalmologist
    • Dr. Robin Rothstein / Physician

    Property Details for 515 Pennsylvania Ave

    Year built
    1958
    Lot size
    4.42 lot acres
    Property size
    83,998 SF
    Zone code
    LIM
    Property type
    Office buildings
    APN
    54-00-04363-00-2
    APU
    540004363002

    Description

    Fort Washington Plaza offers exceptional Class A office space in Montgomery County, PA. This single, two-story building totaling 82,000 square feet provides a variety of suite sizes, perfect for businesses seeking flexible options. Currently, there are multiple spaces available, ranging from a minimum of 5,650 square feet to a maximum contiguous space of 22,215 square feet, with a total of 40,637 square feet currently vacant. The building underwent renovations in 2019, ensuring modern amenities and a comfortable work environment. Its convenient location near the PA Turnpike Fort Washington Interchange and PA Route 309 offers easy access for employees and clients. The property is also within walking distance of the SEPTA Regional Rail Fort Washington Train Station and benefits from convenient curbside SEPTA bus service. Ample on-site parking is available for tenants and visitors. The building features elevators for easy access to both floors. The property is zoned for commercial use and boasts excellent tenant signage opportunities on the highly visible Pennsylvania Avenue. Professional ownership and responsive property management ensure a seamless and positive tenant experience. This is an ideal location for businesses seeking a prestigious and easily accessible office space in the thriving Fort Washington submarket. The building is suitable for traditional office, medical office, and daycare uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,067,000
      Market price range: $7.93M - $21.2M
      AI Estimate
      $7,895,000
      Market price range: $3.90M - $17.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $13,745,000
      Current use
      MEDICAL BUILDING
      $13,240,000
      Change: -4% Conversion: Easy
      RESTAURANT
      $11,790,000
      Change: -14% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $11,675,000
      Change: -15% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Washington
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.2056
    Latitude
    40.1347
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $203,286
    $0.00
    $0.00
    $4,168,550
    -
    $0.00
    $0.00
    $4,168,550

    Comparable in this City

    • Value Estimation
      $11,090,000
      102,752 SF

      550 Pinetown Rd

      OFFICE BUILDING • 102,752 SF
      550 Pinetown Rd, Fort Washington, PA 19034-2605
      View Details
    • Value Estimation
      $15,155,000
      75,370 SF

      335 Commerce Dr

      OFFICE BUILDING • 75,370 SF
      335 Commerce Dr, Fort Washington, PA 19034-2701
      View Details
    • Value Estimation
      $14,530,000
      79,746 SF

      420 Delaware Dr

      OFFICE BUILDING • 79,746 SF
      420 Delaware Dr, Fort Washington, PA 19034-2711
      View Details
    • Value Estimation
      $4,220,000
      51,158 SF

      455 Maryland Dr

      OFFICE BUILDING • 51,158 SF
      455 Maryland Dr, Fort Washington, PA 19034-2501
      View Details
    • Value Estimation
      $6,110,000
      48,253 SF

      580 Virginia Dr

      OFFICE BUILDING • 48,253 SF
      580 Virginia Dr, Fort Washington, PA 19034-2715
      View Details
    • Value Estimation
      $5,580,000
      52,608 SF

      275 Commerce Dr

      OFFICE BUILDING • 52,608 SF
      275 Commerce Dr, Fort Washington, PA 19034-2407
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fort Washington Flex/Office Building

      24,032 SF flex/office building on 2.68 acres.
      260 New York Dr, Fort Washington, PA 19034
      View Details
    • Contact for pricing
      46,657 SF

      Fort Washington Office Space Available

      Office space for rent with private balcony and easy access.
      220 Commerce Dr, Fort Washington, PA 19034
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Buildings in Fort Washington

      Two standalone office buildings with easy access to major routes.
      1035 Camp Hill Rd, Fort Washington, PA 19034
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building with easy access to major routes.
      455 Pennsylvania Ave, Fort Washington, PA 19034
      View Details
    • Contact for pricing
      54,000 SF

      Visible Office Space on Route 309

      Office space for lease with high visibility and ample parking.
      7111 Valley Green Rd, Fort Washington, PA 19034
      View Details
    • Contact for pricing
      123,651 SF

      Fort Washington Office Building

      Office building for lease in Fort Washington, Pennsylvania.
      600 Office Center Dr, Fort Washington, PA 19034
      View Details
    • Contact for pricing
      65,000 SF

      Premier Fort Washington Office Property

      680,000 SF Class A office near PA Turnpike.
      1100-1140 Virginia Dr, Fort Washington, PA 19034
      View Details
    • $19 SF/Yr
      3,017 SF

      Fort Washington Office Space Available

      Office space with excellent access from PA Turnpike.
      580 Virginia Dr, Fort Washington, PA 19034
      View Details
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    Fort Washington, PA 19034-3314
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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