It’s old and obsolete, but the eyes of real estate magnates from across the entire country are on the 7.45-acre office complex that sits in the backyard of the soon-to-be transformed Paoli Train Station.

“It’s on the Main Line and everyone is looking at it,” HFF Senior Managing Director Mark Thomson said of the $9 million property in a Philadelphia Business Journal report. “I’ve gotten calls from national builders who want to get into the Philadelphia market.”

With its prime location and the $36 million being pumped into the adjacent train station — as well as the fact that the Amtrak and Southeastern Pennsylvania Transportation Authority rail project will take away an acre through eminent domain — the 40-year-old Palmer Group Properties site is ripe for demolition and redevelopment as a commuter-friendly apartment complex or more.

The only question is whether the developer of the at least 135 potential new apartments comes from Chester County or well beyond.

Read more about the hottest new location to hit the real estate market in the Philadelphia Business Journal here.