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Property profile & analytics
OFF-MARKET
Estimated value
$5,675,000
Assisted living facilities
550 Fornance St Norristown, PA 19401-3536
Entity Owned
3-yr Hold
Free & Clear
Property ID
US73-2619879
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1980
Total area
56,457 SF
Lot
5.76 ac (250,906 SF)
Zoning code
GA
APN
13-00-11680-00-7
UPID
US73-2619879
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
-
BENJAMAS DEBORAH RATTANANAI Physician
-
Markley Rehabilitation & Healthcare Center Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.71M
Blend (final)
Blend
$5.68M
Owner & transaction history
Markley Property LLC · 3 yrs held
Markley Property LLC
since 2023
Last sale
$5.7M
4 recorded transactions
Zoning & alternative use
GA · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.9M
+20.4%
Apartment house (5+ units)
$8.1M
+10.2%
Restaurant
$7.9M
+7.3%
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 Norristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norristown 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
$3,580,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$7,390,000
Current use
MEDICAL BUILDING
$8,900,000
Change: +20% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,145,000
Change: +10% · Conversion: Difficult
RESTAURANT
$7,925,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,360,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$5.68M
Range $5.11M – $6.24M · ±10% · vs last sale $5.66M (Mar 22 2021)
Last sale anchor
$5.66M
Mar 22 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
$101 / 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
$287,470
Tax year 2023
Assessed value
$4,683,290
Assessed 2024
Previous assessed
$4,683,290
+0.0% YoY
Effective rate
6.14%
On assessed value
Total market value
$4,683,290
Applied tax rate
13.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1980
Heating
HOT WATER
Cooling
WINDOW A/C
Stories
3
Units
121
Total area
56,457 SF
Lot
5.76 ac (250,906 SF)
Zoning code
GA
APN
13-00-11680-00-7
UPID
US73-2619879
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
GA · Norristown, PA
Zoning GA · permitted uses
GA · Norristown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norristown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$7.4M
MEDICAL BUILDING
Est. value
$8.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.1M
RESTAURANT
Est. value
$7.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.4M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1980
Heating
HOT WATER
Cooling
Yes
Stories
3
Units
121
Lot
5.76 ac
Current owner
From public records · entity-resolved
Markley Property LLC
Entity
Free & Clear · 3 yrs held
Mailing address
550 E FORNANCE ST, NORRISTOWN, PA 19401-3536
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2023
—
Markley Property LLC
Regina Community Nursing Center
Re-recorded Document
related
—
May 10, 2021
—
Markley Property LLC
—
Deed
related
$13,022,096 · Israel Discount Bank New York
Mar 22, 2021
$5,656,750
Markley Property LLC
Regina Community Nursing Center
Deed
$13,022,096 · Israel Discount Bank New York
Oct 30, 2020
—
Regina Community Nursing Cente
Cnty Industrial Dev Montgomery
Grant Deed
related
—
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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