Mixed-Use Multi-Unit
For Sale
Contact for pricing
205 Mill Street, Bristol, PA 19007
Three-story building with storefront and five residential units, all currently occupied and tenants paying utilities.
Property Size4,521 SF
Price / SF$199.07
Days on Market137
Property Features for 205 Mill Street
General Information
Standard status
Active
Size
4,521 SF
Property subtype
Multifamily, Office
Zoning
CC
Occupancy
100%
Net Operating Income
$67,066
Additional Details
Multifamily Units
4
Amenities
backyard
Building Details
Stories
3
Tenancy
Multi
Listing Agency:
Messina Real Estate
Listed By:
Janine Allan · License #PA RM424999
(215) 788-0456
Source:
Crexi
Added: Apr 23
Changed: Aug 23
Last Checked: Sep 5 at 1:47PM
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 Messina Real Estate
Investment Insights
Based on property information with market context.
This three-story mixed-use building includes a storefront on the first floor and five residential units above. The residential mix consists of two 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units. All units are currently occupied, and tenants pay all utilities.
The building also offers a backyard for tenant use. The first-floor closet space is described as suitable for adding coin-operated washer and dryer service for additional income.
The property is being offered as part of a bundle of four multi-unit buildings.
The building also offers a backyard for tenant use. The first-floor closet space is described as suitable for adding coin-operated washer and dryer service for additional income.
The property is being offered as part of a bundle of four multi-unit buildings.
Key Highlights
- Three‑story building with a storefront and five residential units
- All five residential units are currently occupied
- Tenants pay all utilities
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
$55,977
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
6.22%
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%
$1,119,540
$1.1M
Cap Rate 7%
$799,671
$799.7K
Cap Rate 9%
$621,967
$622.0K
Market Conditions
NOI Build-Up for 4,521 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
$105.2K $23.28/SF
− Vacancy
−$3.5K −$0.77/SF
EGI
$101.8K $22.51/SF
− OpEx
−$45.8K −$10.13/SF
NOI
$56.0K $12.38/SF
Area
Bucks County, PA
Vacancy
3.30%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,119,540
Cap Rate 7%
$799,671
Cap Rate 9%
$621,967
Alternative Uses
Best Use
Apartment 5plus
$799.7K
$699.7K – $933.0K
NOI $55,977 @ 7.0% cap · market cap 6.22%
Second Best
Multifamily LT 5
$766.3K
$670.5K – $894.0K
NOI $53,642 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,951 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 19007, PA
21,849
Population
9,675
Households
2.3
Avg Household Size
40
Median Age
24%
College-Educated
89%
High-School Grad
7.5 sq mi
ZIP Area
2,913
Density / Sq Mi
$66,811
Median Household Income
$43,642
Median Earnings
$1,029
Median Rent
$264,800
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?
Quadplex - Three-story building with storefront and five residential units, all currently occupied and tenants paying utilities.
Where is this quadplex located?
The property is located at 205 Mill Street Bristol, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Three‑story building with a storefront and five residential units; All five residential units are currently occupied; Tenants pay all utilities
