Mixed-Use Property with Three Retail
For Sale
$1,460,000
83 83-85 S Main St, New Hope, PA 18938
Mixed-use building offering three retail spaces plus two newly renovated studio apartments, each including parking spots.
Property Size3,453 SF
Price / SF$422.82
Days on Market48
Property Features for 83 83-85 S Main St
General Information
Standard status
Active
Size
3,453 SF
Additional Details
Multifamily Units
2
Building Details
Year Built
1939
Tenancy
Multi
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Revi M Haviv · License #2183567
(845) 492-1315
Source:
Kandorre
Added: Jul 21
Changed: Aug 15
Last Checked: Sep 5 at 11:36AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
83-85 S Main St is a multi-unit mixed-use property featuring three retail spaces and two newly renovated studio apartments. The configuration supports a combined income stream with retail units alongside renovated residential studio apartments, and the apartments include parking spots.
The property is positioned in the heart of New Hope’s downtown commercial district, with frontage along S Main St. With approximately 3,453 square feet total, the building offers a straightforward, retail-and-residential setup in an established downtown environment.
For buyers looking for an income-producing mix of storefront space and renovated studio units, this offering provides immediate, in-place tenancy opportunity within a central downtown setting.
The property is positioned in the heart of New Hope’s downtown commercial district, with frontage along S Main St. With approximately 3,453 square feet total, the building offers a straightforward, retail-and-residential setup in an established downtown environment.
For buyers looking for an income-producing mix of storefront space and renovated studio units, this offering provides immediate, in-place tenancy opportunity within a central downtown setting.
Key Highlights
- Mixed‑use building built in 1939 featuring three retail spaces and two studio apartments
- Two newly renovated studio apartments, each inclusive of parking spots
- Total of five units: 3 retail spaces plus 2 studio apartments
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
$50,107
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
3.43%
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%
$1,002,140
$1.0M
Cap Rate 7%
$715,814
$715.8K
Cap Rate 9%
$556,744
$556.7K
Market Conditions
NOI Build-Up for 3,453 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
$75.8K $21.96/SF
− Vacancy
−$4.2K −$1.23/SF
EGI
$71.6K $20.73/SF
− OpEx
−$21.5K −$6.22/SF
NOI
$50.1K $14.51/SF
Area
Bucks County, PA
Vacancy
5.60%
Lease Rate
$21.96 /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%
$1,002,140
Cap Rate 7%
$715,814
Cap Rate 9%
$556,744
Alternative Uses
Best Use
Retail
$715.8K
$626.3K – $835.1K
NOI $50,107 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$610.8K
$534.4K – $712.6K
NOI $42,753 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.05M
$916.1K – $1.22M
NOI $73,284 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,258
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18938, PA
14,301
Population
6,369
Households
2.2
Avg Household Size
54
Median Age
67%
College-Educated
97%
High-School Grad
40.9 sq mi
ZIP Area
350
Density / Sq Mi
$161,146
Median Household Income
$93,397
Median Earnings
$2,005
Median Rent
$701,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use building offering three retail spaces plus two newly renovated studio apartments, each including parking spots.
Where is this storefront property located?
The property is located at 83 83-85 S Main St New Hope, PA.
What is the asking price?
The asking price for this property is $1,460,000.
What are key features of this property?
This property features: Mixed‑use building built in 1939 featuring three retail spaces and two studio apartments; Two newly renovated studio apartments, each inclusive of parking spots; Total of five units: 3 retail spaces plus 2 studio apartments
