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Property profile & analytics
OFF-MARKET
Estimated value
$4,625,000
Industrial properties
9 Forrest Ave West Norriton, PA 19403-6016
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-0336104
Property summary
AI-generated overview
Exceptional opportunity to lease in the Forrest Business Center, a recently renovated (2024) industrial property featuring two available suites. Suite #300 offers 6,212 square feet of versatile space, ideally suited for a variety of uses. This single-story unit boasts 1,596 square feet of office space and 4,616 square feet of warehouse space, complete with 480v three-phase electric power, air conditioning, and two drive-in doors (25'H x 13' & 9'H x 8'). Also available is Suite #100, a two-story unit encompassing 29,620 square feet. Currently configured with 11,536 square feet of office space and 17,021 square feet of warehouse space, the owner plans to reduce the office area to 3,245 square feet, expanding the warehouse to 25,312 square feet. Both suites benefit from a secure, fenced property, updated LED lighting, fresh paint, new flooring, and renovated bathrooms. The property is zoned LC&I (Limited Commercial & Industrial), offering flexibility for various commercial and light industrial businesses. Conveniently located with easy access to Routes 202 and 363 via Main Street (Ridge Pike). Monthly rent includes CAM charges of $3.00 per square foot. Utilities are separate. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Industrial properties
Use group
MULTI-TENANT INDUSTRIAL BUILDING
Year built
1950
Total area
49,117 SF
Lot
3.47 ac (151,153 SF)
Zoning code
LCI
APN
63-00-02473-00-2
UPID
US73-0336104
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
LCR Embedded Systems, Inc. Factory Production Facility
-
911 Safety Equipment LLC Building Supply General Contractor
-
911 Rental Gear (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.81M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.63M
Owner & transaction history
Five III Pa1 LLC · 4 yrs held
Five III Pa1 LLC
since 2022
Last sale
$4.5M
7 recorded transactions
Zoning & alternative use
LCI · West Norriton, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs West Norriton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Norriton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,670,000
ML approach
$4,810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,835,000
Change: 0% · Conversion: Difficult
RESTAURANT
$4,645,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$4,360,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,300,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,105,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$3,585,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$4.63M
Range $4.16M – $5.09M · ±10% · vs last sale $4.51M (Jun 30 2022)
Last sale anchor
$4.51M
Jun 30 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$94 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$54,083
Tax year 2023
Assessed value
$1,106,960
Assessed 2024
Previous assessed
$1,106,960
+0.0% YoY
Effective rate
4.89%
On assessed value
Assessed land
$134,230
Assessed improvement
$972,730
Land market value
$134,230
Improvement market value
$972,730
Total market value
$1,106,960
Applied tax rate
63.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
MULTI-TENANT INDUSTRIAL BUILDING
Status
Off-Market
Year built
1950
Heating
OTHER
Cooling
NONE
Total area
49,117 SF
Lot
3.47 ac (151,153 SF)
Zoning code
LCI
APN
63-00-02473-00-2
UPID
US73-0336104
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
LCI · West Norriton, PAZoning LCI · permitted uses
LCI · West Norriton, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$4.8M
RESTAURANT
Est. value
$4.6M
OFFICE BUILDING
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.6M
RETAIL STORES
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Heating
OTHER
Cooling
Yes
Lot
3.47 ac
Current owner
From public records · entity-resolved
Five III Pa1 LLC
Entity
Mailing address
3001 IRWIN RD STE D, MOUNT LAUREL, NJ 08054-4636
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$4,510,000
Five III Pa1 LLC
Forest Business Center LLC
Special Warranty Deed
—
Mar 18, 2014
$645,820
Forest Business Center LLC
Montgomery Cnty Indl Dev Co
Grant Deed
—
Dec 7, 2010
—
Forest Business Center LLC
—
Deed Of Trust
related
$1,210,000 · Pnc Bank
Sep 7, 2000
—
Montgomery County Industrial
9 South Forest Associates
Grant Deed
$200,000 · Montgomery County Development
—
—
Forest Business Center LLC
—
Deed Of Trust
related
$585,000 · National Penn Bank
—
—
9 South Forest Associates
—
Deed Of Trust
related
$1,588,000 · Wilmington Trust Of Pennsylvia
—
—
Forest Business Center LLC
—
Deed Of Trust
related
$450,000 · National Penn Bank
—
—
Forest Business Center LLC
—
Deed Of Trust
related
$975,500 · Mellon Bank
—
—
Forest Business Center LLC
—
Deed Of Trust
related
$100,000 · Forest Business Center LLC
—
—
Dev Auth Montgomery Industrial
—
Deed Of Trust
related
$645,820 · Industrial Dev Authority Pa
—
—
Forest Business Center LLC
—
Deed Of Trust
related
$50,000 · Montgomery Country Industrial
—
—
9 South Forest Associates
—
Deed Of Trust
related
$262,000 · Wilmington Trust Of Pennsylvia
—
—
Forest Business Center LLC
—
Deed Of Trust
related
$645,820 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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