Two-Unit Office
For Sale
$750,000
154 N State St, Newtown, PA 18940
Renovated commercial building with an operating salon and a second-floor dental buildout in a walkable borough setting.
Property Size1,584 SF
Price / SF$473.48
Days on Market193
Property Features for 154 N State St
General Information
Standard status
Active
Size
1,584 SF
Class
B
Property subtype
Multi Tenant Office
Zoning
V-1
Additional Details
Highway Access
Yes
Amenities
on-site parking
prominent signage
Building Details
Building Size
1,584 SF
Year Built
1900
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
SVN | Ahia Commercial
(215) 757-2500
Listed By:
Monika Polakevic · License #RS293807
(215) 757-2500
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 12:05AM
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 SVN | Ahia Commercial
Investment Insights
Based on property information with market context.
This two-unit office property contains 1,584 SF across two levels and was built in 1900 before being renovated for contemporary business use. The 754 SF first floor is occupied by a hair salon, while the 830 SF upper level is configured for dental or medical operations and may accommodate other professional uses. The building is designated V-1 (Village Conservation), with multiple permitted uses by right.
The property is located at 154 N State St near North State Street and Jefferson Street in Newtown Borough, Bucks County. Its setting places it near the borough’s commercial center, restaurants, boutique shops, shopping centers, and national retailers. On-site parking, prominent signage, and visibility support day-to-day customer and tenant access. The Newtown Bypass is less than a mile away, with connections to PA 413, PA 532, and I-95.
The property is located at 154 N State St near North State Street and Jefferson Street in Newtown Borough, Bucks County. Its setting places it near the borough’s commercial center, restaurants, boutique shops, shopping centers, and national retailers. On-site parking, prominent signage, and visibility support day-to-day customer and tenant access. The Newtown Bypass is less than a mile away, with connections to PA 413, PA 532, and I-95.
Key Highlights
- 1,584 SF two‑unit office building with 754 SF on the first floor and 830 SF upstairs
- First‑floor hair salon is currently leased
- Second floor configured for dental, medical, or professional use
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
$24,903
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
3.32%
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%
$498,060
$498.1K
Cap Rate 7%
$355,757
$355.8K
Cap Rate 9%
$276,700
$276.7K
Market Conditions
NOI Build-Up for 1,584 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
$41.2K $26.04/SF
− Vacancy
−$8.0K −$5.08/SF
EGI
$33.2K $20.96/SF
− OpEx
−$8.3K −$5.24/SF
NOI
$24.9K $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%
$498,060
Cap Rate 7%
$355,757
Cap Rate 9%
$276,700
Alternative Uses
Best Use
Office B
$355.8K
$311.3K – $415.1K
NOI $24,903 @ 7.0% cap · market cap 3.32%
Second Best
Retail
$328.4K
$287.3K – $383.1K
NOI $22,986 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$480.3K
$420.2K – $560.3K
NOI $33,618 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,309
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 - Renovated commercial building with an operating salon and a second-floor dental buildout in a walkable borough setting.
Where is this office units located?
The property is located at 154 N State St Newtown, PA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,584 SF two‑unit office building with 754 SF on the first floor and 830 SF upstairs; First‑floor hair salon is currently leased; Second floor configured for dental, medical, or professional use
