Three-Unit Triplex with Dental
For Sale
$645,000
8 RUNNEMEDE Avenue, Lansdowne, PA 19050
Multi-Family, LANSDOWNE, PA
Property Size3,834 SF
Lot Size0.33 Acres
Price / SF$168.23
Days on Market144
Property Features for 8 RUNNEMEDE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room
Parking features
On Street
Interior features
Bathroom - Tub Shower, Ceiling Fan(s), Crown Moldings, Dining Area, Store/Office
Elementary school district
WILLIAM PENN
Middle school district
WILLIAM PENN
High school district
WILLIAM PENN
Standard status
Active
Size
3,834 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Annual Amount
12372
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1920
Number of units
3
Building materials
Asphalt, Concrete, Stone
Listing Agency:
EXP Realty, LLC
(888) 543-4829
Listed By:
Mark Vincent Fansler · License #RSR005656
(302) 241-4935
Added: Apr 22
Changed: Aug 19
Last Checked: Sep 12 at 6:06PM
MLS# PADE2113402
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.
Located at 8 Runnemede Avenue in Lansdowne, this 3,834-square-foot, legally zoned triplex was built in 1920 and includes three distinct units. The first floor has accommodated a dental practice for more than 40 years, while the residential component consists of two 2-bedroom apartments. The practice may be purchased with the real estate as a package.
Recent property improvements include new windows, roof servicing, and refreshed kitchens and bathrooms. The apartments feature updated HVAC, central air, and separate gas and electric utilities paid by the tenants. Forced-air heating, on-street parking, a dining area, and store/office space are also included. The 0.33-acre property fronts Baltimore Pike, which records 14,000+ VPD, and is served by public transportation, including a nearby train station.
Recent property improvements include new windows, roof servicing, and refreshed kitchens and bathrooms. The apartments feature updated HVAC, central air, and separate gas and electric utilities paid by the tenants. Forced-air heating, on-street parking, a dining area, and store/office space are also included. The 0.33-acre property fronts Baltimore Pike, which records 14,000+ VPD, and is served by public transportation, including a nearby train station.
Key Highlights
- Legally zoned triplex with 3,834 square feet
- Two 2‑bedroom apartments plus a first‑floor dental practice
- Dental practice has operated on the first floor for over 40 years
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
$42,023
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
6.52%
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%
$840,460
$840.5K
Cap Rate 7%
$600,329
$600.3K
Cap Rate 9%
$466,922
$466.9K
Market Conditions
NOI Build-Up for 3,834 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
$69.0K $18.00/SF
− Vacancy
−$9.0K −$2.34/SF
EGI
$60.0K $15.66/SF
− OpEx
−$18.0K −$4.70/SF
NOI
$42.0K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$840,460
Cap Rate 7%
$600,329
Cap Rate 9%
$466,922
Alternative Uses
Best Use
Multifamily LT 5
$600.3K
$525.3K – $700.4K
NOI $42,023 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$549.1K
$480.4K – $640.6K
NOI $38,434 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,370 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
14,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 19050, PA
29,176
Population
12,695
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
3.7 sq mi
ZIP Area
7,885
Density / Sq Mi
$62,517
Median Household Income
$44,408
Median Earnings
$1,166
Median Rent
$188,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legally zoned income property with two apartments and a long-established dental practice on the first floor.
Where is this triplex located?
The property is located at 8 RUNNEMEDE Avenue Lansdowne, PA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Legally zoned triplex with 3,834 square feet; Two 2‑bedroom apartments plus a first‑floor dental practice; Dental practice has operated on the first floor for over 40 years
