Retail Flex Warehouse with
For Sale
$2,150,000
222 E Bridge Street, Morrisville, PA 19067
Renovated retail storefront plus adaptable drive-in warehouse space, with two active tenants in place.
Property Size16,675 SF
Price / SF$128.94
Days on Market482
Property Features for 222 E Bridge Street
General Information
Standard status
Active
Size
16,675 SF
Property subtype
Commercial
Lease Term
[]
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Year Built
1921
Tenancy
Multi
Listing Agency:
EXP Realty,LLC
(215) 431-7653
Listed By:
Raymond W. Jones · License #201714
Source:
Deepcreeklake
Added: Apr 15, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty,LLC
Investment Insights
Based on property information with market context.
This 16,675± SF retail/flex warehouse building features a renovated retail storefront and an adaptable drive-in flex/warehouse area designed for mixed-use operations. The property currently has two active tenants: a dental lab (~2,500 SF) and an auto mechanic (~1,500 SF). The remaining portion of the building, approximately 13,000± SF, is available for occupancy or lease-up.
The asset is located on East Bridge Street in Lower Bucks County and is described as being on a waterfront stretch of Bridge Street. Access is highlighted for regional connectivity to NJ and to major routes including I-276, Route 1, and I-95.
For an owner-user, this configuration can support a commercial retail component alongside drive-in warehouse or service space. For developers or value-add investors, the presence of two in-place tenants provides near-term stability while the balance of the building can be positioned for additional occupancy. This property is also being offered for redevelopment consideration given its mix of retail frontage and flexible drive-in space.
The asset is located on East Bridge Street in Lower Bucks County and is described as being on a waterfront stretch of Bridge Street. Access is highlighted for regional connectivity to NJ and to major routes including I-276, Route 1, and I-95.
For an owner-user, this configuration can support a commercial retail component alongside drive-in warehouse or service space. For developers or value-add investors, the presence of two in-place tenants provides near-term stability while the balance of the building can be positioned for additional occupancy. This property is also being offered for redevelopment consideration given its mix of retail frontage and flexible drive-in space.
Key Highlights
- 16,675± SF retail/flex warehouse building built in 1921
- Renovated retail storefront plus adaptable drive‑in flex/warehouse space
- Two active tenants: dental lab (≈2,500 SF) and auto mechanic (≈1,500 SF)
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
$170,561
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
7.93%
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%
$3,411,220
$3.4M
Cap Rate 7%
$2,436,586
$2.4M
Cap Rate 9%
$1,895,122
$1.9M
Market Conditions
NOI Build-Up for 16,675 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
$218.1K $13.08/SF
− Vacancy
−$17.4K −$1.05/SF
EGI
$200.7K $12.03/SF
− OpEx
−$30.1K −$1.81/SF
NOI
$170.6K $10.23/SF
Area
Bucks County, PA
Vacancy
8.00%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
15.00%
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%
$3,411,220
Cap Rate 7%
$2,436,586
Cap Rate 9%
$1,895,122
Alternative Uses
Best Use
Retail
$3.46M
$3.02M – $4.03M
NOI $241,974 @ 7.0% cap · market cap 11.25%
Second Best
Warehouse
$2.44M
$2.13M – $2.84M
NOI $170,561 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$5.06M
$4.42M – $5.90M
NOI $353,898 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19067, PA
53,153
Population
21,792
Households
2.4
Avg Household Size
44
Median Age
56%
College-Educated
97%
High-School Grad
31.5 sq mi
ZIP Area
1,687
Density / Sq Mi
$131,604
Median Household Income
$63,454
Median Earnings
$1,599
Median Rent
$483,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated retail storefront plus adaptable drive-in warehouse space, with two active tenants in place.
Where is this flex space located?
The property is located at 222 E Bridge Street Morrisville, PA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 16,675± SF retail/flex warehouse building built in 1921; Renovated retail storefront plus adaptable drive‑in flex/warehouse space; Two active tenants: dental lab (≈2,500 SF) and auto mechanic (≈1,500 SF)
