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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    629 Lancaster Ave Wayne, PA 19087-2527

    • Turn key restaurants
    • 2,736 SF
    • 1.73 lot acres
    OFF-MARKET
    Value Estimations
    $405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-3580198
    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

    • CVS Photo / Passport Photo Processor / Digital Printer
    • Santander Bank ATM / Atm
    • CVS / Stationery Store / Vitamin & Supplements Store
    • CDReload - Online Bitcoin ATM / Atm / Crypto Atm
    • LibertyX Bitcoin ATM / Atm

    Property Details for 629 Lancaster Ave

    Year built
    1780
    Lot size
    1.73 lot acres
    Property size
    2,736 SF
    Zone code
    C1
    Property type
    Turn key restaurants
    APN
    4311G01810000
    APU
    4311G01810000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $421,000
      Market price range: $148k - $422k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $590,000
      Current use
      AUTO REPAIR, GARAGE
      $585,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $575,000
      Change: -3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $490,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.4052
    Latitude
    40.0465
    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
    $65,484
    $469,470
    $1,389,640
    $1,859,110
    -
    $469,470
    $1,496,580
    $1,966,050

    Comparable in this City

    • Value Estimation
      $515,000
      3,359 SF

      735 Lancaster Ave

      RESTAURANT • 3,359 SF
      735 Lancaster Ave, Strafford, PA 19087-2514
      View Details
    • Value Estimation
      $345,000
      3,138 SF

      932 Fairview Ave

      RESTAURANT • 3,138 SF
      932 Fairview Ave, Wayne, PA 19087
      View Details
    • Value Estimation
      $305,000
      2,799 SF

      757 Lancaster Ave

      RESTAURANT • 2,799 SF
      757 Lancaster Ave, Wayne, PA 19087-2514
      View Details
    • Value Estimation
      $880,000
      2,852 SF

      711 Lancaster Ave

      RESTAURANT • 2,852 SF
      711 Lancaster Ave, Wayne, PA 19087-2514
      View Details
    • Value Estimation
      $350,000
      4,761 SF

      12 Anthony Wayne Dr

      RESTAURANT • 4,761 SF
      12 Anthony Wayne Dr, Wayne, PA 19087-1251
      View Details
    • Value Estimation
      $330,000
      2,592 SF

      755 Lancaster Ave

      RESTAURANT • 2,592 SF
      755 Lancaster Ave, Wayne, PA 19087-2514
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.62 Acres

      Wayne Retail Space - Prime Location

      High-traffic retail/office suites available.
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      Wayne, PA Mixed-Use Property

      Prime Wayne location, 2,097 SF, $700,000
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    • $675,000
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      Mixed-Use Property in Wayne, PA

      Live and work in this versatile Wayne, PA property.
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    • Contact for pricing

      Retail Space in Downtown Wayne

      Prime retail space with storefront and storage in Wayne, PA.
      240 E Lancaster Ave, Wayne, PA 19087
      View Details
    • $700,000
      2,000 SF

      Wayne Mixed-Use Commercial Property

      Live & Work in Prime Wayne Location
      234 Conestoga Rd, Wayne, PA 19087
      View Details
    • $595,000
      9,375 SF

      this property beckons visionary buyers ready to restore and rejuvenate. The seller is motivated\u00e2\u0080\u0094seize this opportunity and present your offer today!""""}"""

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    Similar Nearby for Lease

    • Contact for pricing
      14,673 SF

      Retail Building with Drive Thru

      Retail building with drive-thru available for lease.
      231-245 E Lancaster Ave, Wayne, PA 19087
      View Details
    • Contact for pricing
      14,673 SF

      Wayne PA Medical Office Opportunity

      Prime Medical Office Space - 7,673 SF Available
      237 Lancaster Ave, Wayne, PA 19087
      View Details
    • Contact for pricing
      3,126 SF

      Retail and Restaurant Space Available

      Retail/Restaurant space in mixed-use development near transit and parking.
      150 E Lancaster Ave, Wayne, PA 19087
      View Details
    • Contact for pricing
      63,053 SF

      St. David's Square Retail Center

      Prime Wayne, PA Retail Space Available
      500 Lancaster Ave, Berwyn, PA 19087
      View Details
    • $42 SF/Yr

      Retail Space in Wayne, PA

      Retail space available for lease in Wayne, Pennsylvania.
      968 County Line Rd, Wayne, PA 19087
      View Details
    • Contact for pricing
      1,465 SF

      Premier Retail Space in Wayne

      Open-air retail destination on Lancaster Avenue in affluent Main Line.
      517 Lancaster Ave, Wayne, PA 19087
      View Details
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    629 Lancaster Ave
    Wayne, PA 19087-2527
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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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