Building Details

Year built 1999

Number of units 2

Building materials Steel Siding

Listing Agency: Keller Williams Realty Group t***@kw.com Show Phone

Listed By: Vickie L Landis · License #AB065442 Show Phone

Added: Jul 30 Changed: Aug 19 Last Checked: Aug 30 at 2:06AM

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MLS# PABU2127524

Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This multifamily property combines two income-producing residential units with a separate private residence and a 10,000-square-foot commercial building. The commercial structure sits behind the rental units and can accommodate contractor storage, equipment staging, flex warehouse functions, workshops, or light business operations. The improvements were built in 1999, with steel siding, forced-air heat, central air, and driveway parking.

The property occupies a visible position along Route 313, identified at 161-165 S Main Street in Dublin, Pennsylvania. The corridor connects with Doylestown, Route 611, Route 309, the Lehigh Valley, and the Greater Philadelphia markets. The rear portion provides a large, private setting that can support owner occupancy, additional rental use, or future repositioning, subject to municipal approvals.

Key Highlights

• Two income‑producing residential rental units
• 10,000‑square‑foot commercial building behind the residences
• Separate private residence on the rear portion of the property

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$123,815

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.05%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,476,300 $2.5M

Cap Rate 7%

$1,768,786 $1.8M

Cap Rate 9%

$1,375,722 $1.4M

Market Conditions

NOI Build-Up for 10,000 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$232.8K $23.28/SF

− Vacancy

−$7.7K −$0.77/SF

EGI

$225.1K $22.51/SF

− OpEx

−$101.3K −$10.13/SF

NOI

$123.8K $12.38/SF

Area

Bucks County, PA

Vacancy

3.30%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,476,300

Cap Rate 7%

$1,768,786

Cap Rate 9%

$1,375,722

Alternative Uses

Best Use

Apartment 5plus

$1.77M

$1.55M – $2.06M (±1% cap)

NOI $123,815 @ 7.0% cap · market cap 5.05%

Second Best

Warehouse

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,286 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$3.03M

$2.65M – $3.54M (±1% cap)

NOI $212,233 @ 7.0% cap · market cap 8.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Auto Repair Shop Skin Care Clinic HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

264

Businesses Nearby

Explore this area Business Placement

Demographics for 18917, PA

2,227

Population

1,059

Households

2.1

Avg Household Size

39

Median Age

34%

College-Educated

91%

High-School Grad

0.7 sq mi

ZIP Area

3,181

Density / Sq Mi

$75,000

Median Household Income

$49,539

Median Earnings

$1,342

Median Rent

$356,100

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Income-producing residences accompany a commercial building, private home, and substantial land area along the Route 313 corridor.

Where is this multifamily property located?

The property is located at 161-165 S MAIN Street Dublin, PA.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: Two income‑producing residential rental units; 10,000‑square‑foot commercial building behind the residences; Separate private residence on the rear portion of the property