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    Property profile & analytics

    970 Rittenhouse Rd Norristown, PA 19403-2265

    • Warehouses
    • 62,534 SF
    • 5.59 lot acres
    OFF-MARKET
    Value Estimations
    $5,615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-2371115
    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

    • BioScrip Infusion Services / Pharmacy
    • NX Utilities / Corporate Office
    • Bald Birds Brewing Company / Event Venue / Brewery

    Property Details for 970 Rittenhouse Rd

    Year built
    1974
    Lot size
    5.59 lot acres
    Property size
    62,534 SF
    Zone code
    IP
    Property type
    Warehouses
    APN
    43-00-12253-00-7
    APU
    430012253007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,369,000
      Market price range: $4.82M - $6.37M
      AI Estimate
      $4,857,000
      Market price range: $1.78M - $5.33M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $5,575,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $9,020,000
      Change: +62% Conversion: Difficult
      RESTAURANT
      $8,775,000
      Change: +57% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $8,150,000
      Change: +46% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Norristown
    County
    Montgomery
    State
    Pennsylvania
    Longitude
    -75.4163
    Latitude
    40.1264
    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
    $118,621
    $0.00
    $0.00
    $2,908,350
    -
    $0.00
    $0.00
    $2,908,350

    Comparable in this City

    • Value Estimation
      $7,185,000
      109,766 SF

      2455 Blvd Of The Generals

      WAREHOUSE, STORAGE • 109,766 SF
      2455 Blvd Of The Generals, West Norriton, PA 19403-3661
      View Details
    • Value Estimation
      $4,045,000
      51,600 SF

      2675 Eisenhower Ave

      WAREHOUSE, STORAGE • 51,600 SF
      2675 Eisenhower Ave, Norristown, PA 19403-2316
      View Details
    • Value Estimation
      $665,000
      9,232 SF

      2575 Industry Ln

      WAREHOUSE, STORAGE • 9,232 SF
      2575 Industry Ln, West Norriton, PA 19403-3907
      View Details
    • Value Estimation
      $780,000
      9,300 SF

      3229 Rdg Pike

      WAREHOUSE, STORAGE • 9,300 SF
      3229 Rdg Pike, Eagleville, PA 19403-1409
      View Details
    • Value Estimation
      $6,095,000
      115,628 SF

      950 Rittenhouse Rd

      WAREHOUSE, STORAGE • 115,628 SF
      950 Rittenhouse Rd, Norristown, PA 19403-2232
      View Details
    • Value Estimation
      $10,110,000
      133,156 SF

      2560 General Armistead Ave

      WAREHOUSE, STORAGE • 133,156 SF
      2560 General Armistead Ave, West Norriton, PA 19403-5214
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14.00 Acres

      Eagleville Industrial Property

      147,000 SF Warehouse, Vacant, 14 Acres
      950 Rittenhouse Rd, Eagleville, PA 19403
      View Details
    • $500,000
      0.20 Acres

      Norristown Commercial Revitalization District Property

      Commercial property in Norristown's Revitalization District with high traffic.
      1445 W Main St, Norristown, PA 19403
      View Details
    • $1,200,000
      8,919 SF

      Norristown Warehouse with Drive-In Doors

      Commercial-zoned warehouse featuring roll-up drive-in doors.
      1435 W Main St, Norristown, PA 19403
      View Details
    • Contact for pricing
      147,000 SF

      Valley Forge Industrial Facility

      147,000± SF industrial facility on 14 acres.
      950 Rittenhouse Rd, Norristown, PA 19403
      View Details
    • Contact for pricing
      6,325 SF

      Industrial Building on Fenced Lot

      6,325 SF building on 1.29 acre fenced lot.
      915 S Trooper Rd, Norristown, PA 19403
      View Details
    • $40,000

      Residential Lot in Established Neighborhood

      5,625 SF lot for new home construction.
      12 Wilson Rd, Eagleville, PA 19403
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      8,782 SF

      Norristown Industrial Flex Space

      8,782 SF Flex Space Available Now
      529 Foundry Rd, Norristown, PA 19403
      View Details
    • Contact for pricing
      6,669 SF

      Norristown Industrial Building For Rent

      Single-story industrial building suitable for warehouse, manufacturing, or office use.
      2495 Boulevard Of The Generals, Norristown, PA 19403
      View Details
    • Contact for pricing
      20,000 SF

      Norristown Warehouse Space Available

      20,000 sqft warehouse space for rent in Norristown.
      2564 Boulevard Of The Generals, Norristown, PA 19403
      View Details
    • $15 SF/Yr
      2,226 SF

      Norristown Office and Storage Space

      Office, apartment, and storage space available for lease.
      1217 S Trooper Rd, Norristown, PA 19403
      View Details
    • Contact for pricing
      17,879 SF

      Norristown Flex Space Available

      Flex space suitable for light industrial, distribution, or showroom.
      1012 W Germantown Pike, Norristown, PA 19403
      View Details
    • $22 SF/Yr

      Renovated Office Space For Rent

      Newly renovated office space with flexible layout and ample parking.
      29 S Trooper Rd, Eagleville, PA 19403
      View Details
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    Norristown, PA 19403-2265
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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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