685 Kromer AveBerwyn, PA 19312

  • Office properties
  • 2,772 SF
For Sale

Property Details for 685 Kromer Ave

Year built
1940
Property size (Sq ft)
2,772 SF
Zone code
R2
Property type
Office properties
Property subtype
Other office properties
APN
4310G01130200
APU
4310G01130200

Description

This freestanding office building at 685 Kromer Avenue in Berwyn, PA, offers a unique opportunity for businesses seeking a convenient and well-equipped workspace. Situated in downtown Berwyn, this property enjoys exceptional accessibility, being just minutes away from Lancaster Avenue and the Berwyn Train Station, providing easy commutes for employees. The building itself comprises 2,910 square feet spread across two floors, offering ample space for a variety of business needs. The layout includes five large, private offices, ideal for individual executives or teams, and a spacious conference room that can also serve as an additional office. The second floor features a large, open area, providing flexibility for configuring a workspace to suit specific requirements. This area could easily accommodate numerous desks and cubicles, a comfortable lounge, or a dedicated meeting area. Three half-bathrooms are conveniently located throughout the building (two on the first floor and one on the second). Utility and storage closets are also provided for efficient organization. The property sits on a 0.07-acre lot. Currently, the building is furnished with desks, chairs, and other office equipment, which is available for tenant use at no extra cost during the lease term, or can be removed as needed. This turnkey solution presents a compelling opportunity to establish a thriving business in a highly desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $764,892
    6.5%
    $706,054
    7%
    $655,622
  • Comparable approach

    Method
    Valuation
    Relative Method
    $380,292
    Geo Method
    $362,190
  • Alternative Use

    Use
    Valuation
    Residential
    $875,507
    Hospitality
    $801,960
    Educational
    $667,221
    Medical
    $690,168
    Retail
    $1,037,900
685 Kromer Ave, Berwyn, Pennsylvania

Location Insight

City
Berwyn
County
Chester
State
Pennsylvania
Latitude
40.0496
Longitude
-75.4427
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
$6,651
-
$188,810
$188,810
-
-
$191,920
$191,920

FAQs

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