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

    704 Lancaster Ave Wayne, PA 19087-2515

    • Super regional malls
    • 140,806 SF
    • 13.40 lot acres
    OFF-MARKET
    Value Estimations
    $1,045,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0756968
    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

    • Starbucks / Coffee Shop / Cafe
    • Target Grocery / Grocery Store / Supermarket
    • Town & Country Dry Cleaners / Dry Cleaner
    • Target Mobile / Cell Phone Store / Cell Phone Accessory Store
    • Sears Appliance Repair / Appliance Repair Service / Air Conditioning Repair Service

    Property Details for 704 Lancaster Ave

    Year built
    1971
    Lot size
    13.40 lot acres
    Property size
    140,806 SF
    Zone code
    C3
    Property type
    Super regional malls
    APN
    4311K00580000
    APU
    4311K00580000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,045,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.4083
    Latitude
    40.0459
    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
    $277,712
    $2,286,550
    $5,597,730
    $7,884,280
    -
    $2,286,550
    $6,193,720
    $8,480,270

    Comparable in this City

    • Value Estimation
      $1,055,000
      51,552 SF

      821 Lancaster Ave, Unit 5

      REGIONAL SHOPPING CENTER, MALL • 51,552 SF
      821 Lancaster Ave, Wayne, PA 19087-2550
      View Details
    • Value Estimation by Request
      26,447 SF

      500 Chesterbrook Blvd

      REGIONAL SHOPPING CENTER, MALL • 26,447 SF
      500 Chesterbrook Blvd, Chesterbrook, PA 19087-5603
      View Details
    • Value Estimation
      $1,540,000
      105,877 SF

      125 Swedesford Rd, Unit 115

      REGIONAL SHOPPING CENTER, MALL • 105,877 SF
      125 Swedesford Rd, Wayne, PA 19087-1463
      View Details
    • Value Estimation
      $1,085,000
      29,784 SF

      500 Chesterbrook Blvd Ste, Unit 6

      REGIONAL SHOPPING CENTER, MALL • 29,784 SF
      500 Chesterbrook Blvd Ste, Chesterbrook, PA 19087-5611
      View Details
    • Value Estimation
      $1,060,000
      159,248 SF

      550 Lancaster Ave

      MINI-MALL • 159,248 SF
      550 Lancaster Ave, Saint Davids, PA 19087-5044
      View Details
    • Value Estimation
      $230,000
      9,695 SF

      503 Lancaster Ave

      MINI-MALL • 9,695 SF
      503 Lancaster Ave, Wayne, PA 19087-3109
      View Details

    Similar Nearby for Sale

    • $700,000
      2,097 SF

      Wayne, PA Mixed-Use Property

      Prime Wayne location, 2,097 SF, $700,000
      234 Conestoga Rd, Wayne, PA 19087
      View Details
    • $675,000
      0.57 Acres

      Mixed-Use Property in Wayne, PA

      Live and work in this versatile Wayne, PA property.
      234 Conestoga Rd, Wayne, PA 19087
      View Details
    • 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
    • Contact for pricing
      0.62 Acres

      Wayne Retail Space - Prime Location

      High-traffic retail/office suites available.
      1100 Valley Rd, Wayne, PA 19087
      View Details
    • $1,499,000
      0.18 Acres

      Single-User Office Building in Wayne

      5,775 SF office building with modern finishes and exposed brick.
      232 Conestoga Rd, Wayne, PA 19087
      View Details
    • $259,000
      675 SF

      Move-In Ready Condo in Wayne

      Well-maintained 1-bedroom condo in sought-after Radnor School District.
      500 E Lancaster Ave, Wayne, PA 19087
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,100 SF

      Retail Space in Devon Village

      Retail space available in affluent Philadelphia suburban community.
      767 W Lancaster Ave, Wayne, PA 19087
      View Details
    • Contact for pricing
      3,342 SF

      Retail Space in Devon Village

      Retail space available in affluent Philadelphia suburban community.
      841 Lancaster Ave, Strafford, PA 19087
      View Details
    • Contact for pricing
      1,468 SF

      Premier Retail Space in Wayne

      High-end retail space in a sought-after, high-traffic location.
      503 Lancaster Ave, 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
    • 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
    • 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
    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.
    704 Lancaster Ave
    Wayne, PA 19087-2515
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.