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    8118 Old York Rd Elkins Park, PA 19027
    Property profile & analytics

    8118 Old York Rd Elkins Park, PA 19027

    View on Map
    • Medical Office Space
    • 13,342 SF
    • 0.88 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Elkins Park Office Space Available For Lease
    $18 SF/Yr
    3,034 SF

    Elkins Park Office Space Available

    Professional office building with on-site parking for lease.

    8118 OLD YORK Road, Elkins Park, PA 19027
    View Listing
    Property ID
    US73-3394797
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Kimberly A. Hogan, MD / Pediatrician / Physician
    • Primary Homecare / Home Health Care Service / Nurse Practitioner
    • Pyramid Dental Lab / Dental Office
    • US Yong Kum Kwan Kendo Dojo / Training Center / Sports School
    • Bernard Dishler / Dental Office

    Property Details for 8118 Old York Rd

    Year built
    1983
    Lot size
    0.88 lot acres
    Property size
    13,342 SF
    Zone code
    C3
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    31-00-30073-51-4
    APU
    310030073514

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $957,000
      Market price range: $957k - $2.67M
      AI Estimate
      $638,000
      Market price range: $639k - $1.84M

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkins Park
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.1288
    Latitude
    40.0776
    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
    $19,185
    $0.00
    $0.00
    $287,260
    -
    $0.00
    $0.00
    $287,260

    Comparable in this City

    • Value Estimation
      $580,000
      6,031 SF

      7453 Old York Rd

      MEDICAL BUILDING • 6,031 SF
      7453 Old York Rd, Elkins Park, PA 19027-3006
      View Details
    • Value Estimation by Request
      4,204 SF

      7301 Mtn Ave

      MEDICAL BUILDING • 4,204 SF
      7301 Mtn Ave, Elkins Park, PA 19027
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    • Value Estimation by Request
      2,748 SF

      375 Township Line Rd

      MEDICAL BUILDING • 2,748 SF
      375 Township Line Rd, Elkins Park, PA 19027-2239
      View Details
    • Value Estimation
      $1,085,000
      16,134 SF

      7447 Old York Rd

      MEDICAL BUILDING • 16,134 SF
      7447 Old York Rd, Elkins Park, PA 19027-3006
      View Details
    • Value Estimation
      $10,830,000
      48,170 SF

      265 Township Line Rd

      HOMES (RETIRED, NURSING) • 48,170 SF
      265 Township Line Rd, Elkins Park, PA 19027-2221
      View Details
    • Value Estimation
      $2,125,000
      35,504 SF

      50 Township Line Rd

      HOSPITAL - PRIVATE • 35,504 SF
      50 Township Line Rd, Elkins Park, PA 19027-2249
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,182 SF

      Briar House Office Space

      First floor office space in Elkins Park condominium.
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      2,346 SF

      Elkins Park Mixed-Use Opportunity

      Mixed-use property with commercial space and residential unit in Elkins Park.
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      4,355 SF

      Elkins Park Triplex with Garages

      Triplex in Elkins Park with tenant income and garages.
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      View Details
    • Contact for pricing

      Vacant Lot For Sale

      Approximately 0.40 AC vacant lot available for sale.
      8000 Old York Rd, Elkins Park, PA 19027
      View Details
    • Contact for pricing

      0.40 Acre Development Opportunity

      Development opportunity on heavily trafficked Old York Road.
      8000 Old York Rd, Elkins Park, PA 19027
      View Details
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      Cheltenham Avenue Restaurant Opportunity

      Restaurant property for sale on Cheltenham Avenue, Elkins Park.
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    Similar Nearby for Lease

    • Contact for pricing

      Briar House First Floor Office

      First floor office space available for rent in Briar House.
      8302 Old York Rd, Elkins Park, PA 19027
      View Details
    • $2,100 /Mo
      45,738 SF

      Furnished Office Space Available

      Prime office space in Elkins Park, PA for lease.
      7301 Old York Rd, Elkins Park, PA 19027
      View Details
    • $18 SF/Yr
      38,333 SF

      Elkins Park Office Space Available

      Professional office building with on-site parking for lease.
      8118 Old York Rd, Elkins Park, PA 19027
      View Details
    • Contact for pricing
      7,000 SF

      Retail Space in Elkins Park

      7,000 SF retail space available in busy shopping center.
      2385-2401 W Cheltenham Ave, Elkins Park, PA 19027
      View Details
    • $300 /Mo
      10,890 SF

      one car garage - ELKINS PARK, PA

      One-car garage for rent with power in Elkins Park.
      316 Gerard Ave, Elkins Park, PA 19027
      View Details
    • $500 /Mo
      10,890 SF

      LAND - ELKINS PARK, PA

      Two-car garage for rent in Elkins Park with power.
      316 Gerard Ave, Elkins Park, PA 19027
      View Details
    View Listing
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    Elkins Park, PA 19027
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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.

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