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    638 Montgomery Ave Narberth, PA 19072-2031
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    Property profile & analytics

    638 Montgomery Ave, Narberth, PA 19072-2031

    View on Map
    • Office buildings
    • 12,032 SF
    • 0.42 lot acres
    Off-Market
    Last Sale Jun 21, 2023
    $2,261,710
    Property ID
    US73-0129578
    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
    $2,370,000
    Show details
    Cap Rate Potential
    8.2%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 638 Montgomery Ave

    Year built
    1979
    Lot size
    0.42 lot acres
    Zone code
    C
    Property type
    Office buildings
    APN
    12-00-02539-00-5
    APU
    120002539005

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 21, 2023 $2,261,710 Pom 632 LLC Hms Associates Of Narberth LP Deed $2.5M · Wilmington Savings Fund Society Fsb
    Dec 26, 2019 — Hms Associates Of Narberth LP — Deed · related $1.7M · Republic Bk
    Nov 5, 2014 $1,765,000 Hms Associates Of Narberth LP Wp 632 Associates LP Special Warranty Deed $1.1M · American Bank
    Jul 27, 2006 $2,475,000 Wp 632 Associates Montgomery Avenue Investors Grant Deed —
    — — Hms Associates Of Narberth LP — Deed Of Trust · related $1.7M · Republic Bk
    — — Hms Associates Of Narberth LP — Deed Of Trust · related $1.1M · American Bk/bradenton
    — — Wp 632 Associates — Deed Of Trust · related $1.6M · Leesport Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,455,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,365,000
      6.5%
      $3,105,000
      7%
      $2,880,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,493,000
      Market price range: $1.14M - $3.03M
      AI Estimate
      $1,956,000
      Market price range: $558k - $2.55M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,970,000
      Current use
      AUTO REPAIR, GARAGE
      $3,555,000
      Change: +81% Conversion: Difficult
      RETAIL STORES
      $3,240,000
      Change: +65% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,725,000
      Change: +38% Conversion: Easy
      MEDICAL BUILDING
      $1,895,000
      Change: -4% Conversion: Easy
      RESTAURANT
      $1,690,000
      Change: -14% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,670,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Narberth
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.2543
    Latitude
    40.0089
    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
    $48,987
    $0.00
    $0.00
    $1,032,680
    -
    $0.00
    $0.00
    $1,032,680

    Comparable in this City

    • Value Estimation
      $1,295,000
      9,810 SF

      724 Montgomery Ave

      OFFICE BUILDING (MULTI-STORY)
      724 Montgomery Ave, Narberth, PA 19072-2044
      View Details
    • Value Estimation
      $6,295,000
      51,190 SF

      201 Sabine Ave

      OFFICE BUILDING (MULTI-STORY)
      201 Sabine Ave, Narberth, PA 19072-1600
      View Details
    • Value Estimation
      $3,950,000
      24,344 SF

      915 Montgomery Ave

      OFFICE BUILDING
      915 Montgomery Ave, Penn Valley, PA 19072-1548
      View Details
    • Value Estimation
      $830,000
      3,396 SF

      531 Gordon Ave

      OFFICE BUILDING
      531 Gordon Ave, Penn Valley, PA 19072-1530
      View Details
    • Value Estimation
      $1,460,000
      9,648 SF

      450 Narberth Ave

      OFFICE BUILDING (MULTI-STORY)
      450 Narberth Ave, Narberth, PA 19072-1822
      View Details
    • Value Estimation by Request
      4,180 SF

      814 Montgomery Ave

      OFFICE BUILDING
      814 Montgomery Ave, Narberth, PA 19072-1928
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.03 Acres

      234 Woodbine Ave, Narberth, PA 19072

      Office Spaces
      234 Woodbine Ave, Narberth, PA 19072
      View Details
    • Contact for pricing
      0.06 Acres

      Narberth Office Space - Available Now

      Prime Narberth location, flexible office space.
      840 Montgomery Ave, Narberth, PA 19072
      View Details
    • Contact for pricing
      0.04 Acres

      Narberth Restaurant Space - Turnkey Opportunity

      Prime Narberth location, 1200 sq ft, outdoor seating.
      232 Woodbine Ave, Narberth, PA 19072
      View Details
    • Contact for pricing
      0.03 Acres

      236 Woodbine Ave, Narberth, PA 19072

      Commercial real estate
      236 Woodbine Ave, Narberth, PA 19072
      View Details
    • $845,000

      Land for Sale

      Land available in Penn Valley.
      41 Fairview Rd, Penn Valley, PA 19072
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space For Lease

      First floor office space available in elevator building.
      915 Montgomery Ave, Narberth, PA 19072
      View Details
    • $6,500 /Mo
      7,248 SF

      Narberth Office Space For Lease

      2,000+/- sf office space with parking in Narberth, PA.
      145 N Narberth Ave, Narberth, PA 19072
      View Details
    • Contact for pricing

      Unique Office Spaces in Narberth

      Historic building converted into distinctive office spaces in Narberth.
      105 Forrest Ave, Narberth, PA 19072
      View Details
    • Contact for pricing

      Prime Office and Retail Space

      Modern office and retail space in desirable Pennsylvania corridor.
      632 Montgomery Ave, Narberth, PA 19072
      View Details
    • Contact for pricing
      986 SF

      Main Line Mixed-Use Building

      7,400 SF building with office, retail, and medical space.
      727-731 Montgomery Ave, Penn Valley, PA 19072
      View Details
    • Contact for pricing

      Retail Space in Downtown Narberth

      Prime retail space in a vibrant, walkable downtown location.
      228-246 Haverford Ave, Narberth, PA 19072
      View Details
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    Narberth, PA 19072-2031
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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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