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    Property profile & analytics

    515 School House Rd Kennett Square, PA 19348-1741

    • Flex space
    • 9,600 SF
    • 3.70 lot acres
    OFF-MARKET
    Value Estimations
    $895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-5527016
    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.

    Current Use by Public Records

    • Flex space

    Property Details for 515 School House Rd

    Year built
    1972
    Lot size
    3.70 lot acres
    Property size
    9,600 SF
    Zone code
    RB
    Property type
    Flex space
    APN
    6106 00730100
    APU
    610600730100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,175,000
      6.5%
      $1,085,000
      7%
      $1,005,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,220,000
      Current use
      OFFICE BUILDING
      $1,450,000
      Change: +19% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,285,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennett Square
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.6926
    Latitude
    39.8592
    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
    2024
    $15,544
    $134,000
    $259,900
    $393,900
    -
    $134,000
    $304,490
    $438,490

    Comparable in this City

    • Value Estimation
      $735,000
      11,528 SF

      201 Cedar St

      LIGHT INDUSTRIAL • 11,528 SF
      201 Cedar St, Kennett Square, PA 19348-3271
      View Details
    • Value Estimation
      $6,605,000
      75,172 SF

      740 Cypress St

      LIGHT INDUSTRIAL • 75,172 SF
      740 Cypress St, Kennett Square, PA 19348-2235
      View Details
    • Value Estimation
      $4,045,000
      42,608 SF

      816 Baltimore Pike

      LIGHT INDUSTRIAL • 42,608 SF
      816 Baltimore Pike, Kennett Square, PA 19348-1842
      View Details
    • Value Estimation
      $1,865,000
      20,400 SF

      505 School House Rd

      LIGHT INDUSTRIAL • 20,400 SF
      505 School House Rd, Kennett Square, PA 19348-1741
      View Details
    • Value Estimation
      $4,125,000
      39,250 SF

      124 Old Kennett Rd

      LIGHT INDUSTRIAL • 39,250 SF
      124 Old Kennett Rd, Kennett Square, PA 19348-2632
      View Details
    • Value Estimation by Request
      4,180 SF

      216 Birch St

      LIGHT INDUSTRIAL • 4,180 SF
      216 Birch St, Kennett Square, PA 19348-3606
      View Details

    Similar Nearby for Sale

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      Income Producing Buildings For Sale

      Four income-producing buildings on 0.51 acres near downtown.
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    • New
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      Mixed-Use Investment in Kennett Square

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      Kennett Square Borough Hall Complex

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    • $679,000
      7.02 Acres

      Land in Unionville Chadds Ford

      7.02 acres to build your dream home.
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      7,000 SF

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      Three-story commercial building with restaurant, office, and possible apartment.
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    Similar Nearby for Lease

    • Contact for pricing
      9,800 SF

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in-doors.
      210 Gale Ln, Kennett Square, PA 19348
      View Details
    • $25 SF/Yr
      13,705 SF

      Mixed-Use Development Retail Space

      Retail and office spaces available in new mixed-use development.
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      View Details
    • Contact for pricing
      20,000 SF

      Retail/Office/Medical Build-to-Suit Opportunity

      Up to 20,000 SF available for retail, office, or medical.
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      View Details
    • Contact for pricing

      Kennett Square Commercial Land Opportunity

      2.82 Acres, Multi-Use Zoning
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      View Details
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      600 SF

      Downtown Kennett Square Office Space

      600 SF office space in Kennett Square Borough.
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    • $22 SF/Yr
      22,500 SF

      404 Mcfarlan Rd

      Medical Office Space • 22,500 SF
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      View Details
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    515 School House Rd
    Kennett Square, PA 19348-1741
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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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