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    Property profile & analytics

    893 S Matlack St West Chester, PA 19382

    • Office buildings
    • 39,188 SF
    • 2.80 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Jan 21, 2022
    $1,459,250
    Value Estimations
    $1,500,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-0415155
    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

    • Muscle Gauge Nutrition / Industrial Manufacturer / Production Facility
    • Dan W Welch Inc / Financial Advisor
    • Joint & Spine Physical Therapy / Medical Clinic
    • American Fit Nutrition / Pharmacy / (Bike/Boat/Book/etc) Store
    • Oakes Detail / Car Wash

    Property Details for 893 S Matlack St

    Year built
    1986
    Lot size
    2.80 lot acres
    Property size
    39,188 SF
    Zone code
    I2
    Property type
    Office buildings
    APN
    5205 02180100
    APU
    520502180100

    Description

    This exceptional West Chester, PA office space, located at 893 S Matlack Street, offers 8,000 square feet of immediately available, high-quality office space on the second floor. The building, a Class B property constructed in 1986, boasts a total of 39,188 square feet and is situated on a 2.8-acre lot. The space features high-end finishes, abundant natural light, and direct access from the ample parking lot. Ideal for businesses seeking flexible layouts, the space is divisible down to a minimum of 2,136 square feet, with a maximum contiguous space of 8,000 square feet. Amenities include generously sized offices, multiple conference rooms, a sizable kitchenette, and a large training room. The building also offers convenient access to Route 202, one drive-in door, and one dock-high door. The 18-foot ceiling height adds to the spacious feel. This property is perfect for a variety of businesses seeking a well-located, functional, and attractive office environment in Chester County. The property is classified as both Office and Industrial, with a Flex subtype, and is available for multiple tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,385,000
      ML approach
      $1,690,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Chester
    County
    Chester
    State
    Pennsylvania
    Longitude
    -75.5867
    Latitude
    39.9471
    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
    $46,644
    $336,000
    $1,273,110
    $1,609,110
    -
    $336,000
    $1,317,560
    $1,653,560

    Comparable in this City

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      $6,445,000
      38,040 SF

      992 Bolmar St

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      992 Bolmar St, West Chester, PA 19382-4906
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    • Value Estimation
      $3,645,000
      15,438 SF

      845 Chester Pike

      OFFICE BUILDING • 15,438 SF
      845 Chester Pike, West Chester, PA 19382-4878
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    • Value Estimation
      $585,000
      2,227 SF

      29 Darlington St

      OFFICE BUILDING • 2,227 SF
      29 Darlington St, West Chester, PA 19382-2922
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    • Value Estimation
      $945,000
      5,922 SF

      106 High St

      OFFICE BUILDING • 5,922 SF
      106 High St, West Chester, PA 19382-3263
      View Details
    • Value Estimation by Request
      2,580 SF

      39 High St

      OFFICE BUILDING • 2,580 SF
      39 High St, West Chester, PA 19382-3224
      View Details
    • Value Estimation
      $845,000
      3,402 SF

      2 St Rd

      OFFICE BUILDING • 3,402 SF
      2 St Rd, West Chester, PA 19382-8401
      View Details

    Similar Nearby for Sale

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      Well-maintained townhouse with four levels, garage, and finished basement.
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      Flex office units available, individually or combined, tractor trailer accessible.
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    Similar Nearby for Lease

    • $14 SF/Yr
      3,380 SF

      West Chester Office Space Available

      Flexible office space for rent in West Chester, PA.
      893 S Matlack St, West Chester, PA 19382
      View Details
    • $14 SF/Yr
      2,400 SF

      Flex Space with Warehouse

      Flex space with office and warehouse components available for lease.
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      West Chester Pike Commercial Property

      Prime commercial property with high visibility and ample parking.
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      West Chester Executive Office Space

      Modern Flex Office, 1280 SF Available
      207 Bolmar St, West Chester, PA 19382
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    • $24 SF/Yr
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      Office Suites with Historical Finishes

      Two office suites available in elevator-serviced building with secured entry.
      239 East Market St, West Chester, PA 19382
      View Details
    • Contact for pricing
      9,610 SF

      West Chester Office Space Available

      Flexible office suites in a centrally located, three-story building.
      103 S High St, West Chester, PA 19382
      View Details
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    West Chester, PA 19382
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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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