Office and Showroom
For Sale
$4,375,000
201 S State Street Newtown, Newtown, PA 18940
Fully renovated sprinklered building offers six leased office and showroom units with on-site parking.
Property Size15,241 SF
Price / SF$287.05
Days on Market47
Property Features for 201 S State Street Newtown
General Information
Standard status
Active
Size
15,241 SF
Total Parking Spaces
10
Zoning
V-2
Taxes and HOA fees
Annual Taxes
$9,875
Building Details
Building Size
15,241 SF
Year Built
1850
Listing Agency:
(609) 881-2414
Listed By:
Carl SanFilippo
(609) 881-2414
Source:
Mercercountyhomesforsale
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 12 at 3:16AM
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 Carl SanFilippo
Investment Insights
Based on property information with market context.
The Bond Building is a fully renovated, sprinklered commercial property featuring open, flexible spaces and modern office layouts, along with dedicated showroom areas and soaring ceilings. The building is configured into six office and showroom units and is currently fully leased. On-site parking is available, and a new owner would also have the opportunity to occupy one of the spaces if desired.
Located at 201 S State Street in Newtown Borough, the building sits in the center of town directly across from the State Store and the proposed Liberty Square redevelopment.
This is a For Sale offering of a multi-unit office and showroom property totaling approximately 15,241 square feet.
Located at 201 S State Street in Newtown Borough, the building sits in the center of town directly across from the State Store and the proposed Liberty Square redevelopment.
This is a For Sale offering of a multi-unit office and showroom property totaling approximately 15,241 square feet.
Key Highlights
- 1850‑built building with over 15,000 SF of fully renovated, sprinklered commercial space
- Configured into 6 office and showroom units
- Property is fully leased for stable rental income
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
$239,614
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
5.48%
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%
$4,792,280
$4.8M
Cap Rate 7%
$3,423,057
$3.4M
Cap Rate 9%
$2,662,378
$2.7M
Market Conditions
NOI Build-Up for 15,241 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
$396.9K $26.04/SF
− Vacancy
−$77.4K −$5.08/SF
EGI
$319.5K $20.96/SF
− OpEx
−$79.9K −$5.24/SF
NOI
$239.6K $15.72/SF
Area
Bucks County, PA
Vacancy
19.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$4,792,280
Cap Rate 7%
$3,423,057
Cap Rate 9%
$2,662,378
Alternative Uses
Best Use
Office B
$3.42M
$3.00M – $3.99M
NOI $239,614 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$3.16M
$2.76M – $3.69M
NOI $221,165 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,464 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 18940, PA
30,280
Population
11,763
Households
2.6
Avg Household Size
47
Median Age
67%
College-Educated
97%
High-School Grad
34.6 sq mi
ZIP Area
875
Density / Sq Mi
$157,591
Median Household Income
$85,895
Median Earnings
$2,227
Median Rent
$623,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully renovated sprinklered building offers six leased office and showroom units with on-site parking.
Where is this office units located?
The property is located at 201 S State Street Newtown Newtown, PA.
What is the asking price?
The asking price for this property is $4,375,000.
What are key features of this property?
This property features: 1850‑built building with over 15,000 SF of fully renovated, sprinklered commercial space; Configured into 6 office and showroom units; Property is fully leased for stable rental income
