Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    620 Airy St Norristown, PA 19401-4537

    • Retail properties
    • 3,538 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2142052
    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

    • Kiley's Auto Repair LLC / Auto Repair Shop

    Property Details for 620 Airy St

    Year built
    1880
    Lot size
    0.17 lot acres
    Property size
    3,538 SF
    Zone code
    R2
    Property type
    Retail properties
    APN
    13-00-00824-00-9
    APU
    130000824009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.3523
    Latitude
    40.119
    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
    $7,009
    $19,330
    $94,830
    $114,160
    -
    $19,330
    $94,830
    $114,160

    Comparable in this City

    • Value Estimation
      $785,000
      10,857 SF

      405 Elm St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 10,857 SF
      405 Elm St, Norristown, PA 19401-3719
      View Details
    • Value Estimation by Request
      4,586 SF

      320 Lafayette St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,586 SF
      320 Lafayette St, Norristown, PA 19401-4610
      View Details
    • Value Estimation by Request
      918 SF

      640 Noble St Rear

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 918 SF
      640 Noble St Rear, Norristown, PA 19401-5531
      View Details
    • Value Estimation
      $535,000
      3,750 SF

      633 Main St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,750 SF
      633 Main St, Norristown, PA 19401-5122
      View Details
    • Value Estimation by Request
      7,350 SF

      821 Willow St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 7,350 SF
      821 Willow St, Norristown, PA 19401-3904
      View Details
    • Value Estimation by Request
      4,577 SF

      311 Penn St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,577 SF
      311 Penn St, Norristown, PA 19401
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fully Leased Retail Property

      Retail property for sale, currently fully leased.
      1717 Markley St, Norristown, PA 19401
      View Details
    • $5,580,000
      13,650 SF

      Freestanding Walgreens in Norristown, PA

      Single tenant Walgreens with absolute NNN lease in Norristown, PA.
      3300 Dekalb Pike, Norristown, PA 19401
      View Details
    • Contact for pricing
      0.38 Acres

      Versatile Commercial Space in Norristown

      Adaptable commercial space with open floor plan and ample parking.
      516 E Marshall St, Norristown, PA 19401
      View Details
    • $368,900
      3,346 SF

      Mixed-Use Commercial Property in Norristown

      Mixed-use property with commercial space and a renovated two-bedroom apartment.
      254 E Main St, Norristown, PA 19401
      View Details
    • Contact for pricing

      Retail Space Available for Sale

      Retail spaces available with strong demographics and traffic counts.
      Germantown Pike & Swede Rd, Norristown, PA 19401
      View Details
    • Contact for pricing

      Retail Space in Logan Center

      Retail space available in redeveloped Logan Commerce Center.
      1700 Markley St, Norristown, PA 19401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,380 SF

      Hillcrest Plaza: Medical Office Space

      Prime East Norriton Medical Office Suites
      126 Germantown Pike, East Norriton, PA 19401
      View Details
    • Contact for pricing
      220,704 SF

      Logan Commerce Center Retail Space

      Norristown Retail Center - Excellent Opportunity
      1700 Markley St, Norristown, PA 19401
      View Details
    • Contact for pricing
      7,100 SF

      Retail Space on Germantown Pike

      Retail opportunity with strong demographics and traffic counts.
      2991 Swede Rd, Norristown, PA 19401
      View Details
    • Contact for pricing
      8,825 SF

      Northtowne Plaza: Retail Space Available

      Prime Retail Space, East Norriton, PA
      2842 Dekalb Pike, East Norriton, PA 19401
      View Details
    • Contact for pricing
      2,790 SF

      Retail Space on Main Street

      Retail space with high visibility and foot traffic available for lease.
      215 W Main St, Norristown, PA 19401
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Germantown Pike

      Retail opportunity with strong demographics and traffic counts.
      113 W Germantown Pike, Norristown, PA 19401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    620 Airy St
    Norristown, PA 19401-4537
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.