End-Unit Industrial Condo with
For Sale
$2,600,000
4-50 Hulmeville Avenue, Penndel, PA 19047
End-unit warehouse condo with 18’ clear height and four drive-in doors, backed by roof warranty.
Property Size24,000 SF
Price / SF$108.33
Days on Market72
Property Features for 4-50 Hulmeville Avenue
General Information
Standard status
Active
Size
24,000 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
4
Listing Agency:
Keller Williams Real Estate Tri-County
(267) 784-9975
Listed By:
Anushervon Odilov · License #RS378130
(267) 784-9975
Source:
Exprealty
Added: Jun 1
Changed: Jul 10
Last Checked: Aug 10 at 8:53AM
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 Keller Williams Real Estate Tri-County
Investment Insights
Based on property information with market context.
This end-unit industrial condominium is offered as a highly functional warehouse/distribution space totaling approximately 24,000 square feet. The unit provides 18’ clear ceiling heights and is served by four (4) drive-in overhead doors for efficient receiving and loading operations. As part of planned capital work, the property will receive a brand-new roof that is to be completed prior to closing and delivered fully warrantied. Additional exterior upgrades are also underway, including planned façade enhancements, and the front parking lot is slated for resurfacing after closing.
Located at 4-50 Hulmeville Avenue in Pennsdel, the property is positioned within Bucks County. The site includes ample on-site parking to support staff and operational needs. The building also features marquee signage along Hulmeville Road, providing on-site branding and visibility.
This configuration can work well for owner-users and industrial tenants that need straightforward warehouse access with multiple drive-in doors and meaningful vertical clearance. The end-unit setup is designed to support daily operational flow through increased accessibility and natural light, while the concurrent roof and exterior improvements provide near-term maintenance relief for the next owner or operator.
Located at 4-50 Hulmeville Avenue in Pennsdel, the property is positioned within Bucks County. The site includes ample on-site parking to support staff and operational needs. The building also features marquee signage along Hulmeville Road, providing on-site branding and visibility.
This configuration can work well for owner-users and industrial tenants that need straightforward warehouse access with multiple drive-in doors and meaningful vertical clearance. The end-unit setup is designed to support daily operational flow through increased accessibility and natural light, while the concurrent roof and exterior improvements provide near-term maintenance relief for the next owner or operator.
Key Highlights
- ±24,000 SF industrial condominium (end unit) in Lower Bucks County
- 18’ clear ceiling height for efficient warehouse and distribution operations
- Four (4) drive‑in overhead doors for loading and operational flow
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
$176,198
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
6.78%
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%
$3,523,960
$3.5M
Cap Rate 7%
$2,517,114
$2.5M
Cap Rate 9%
$1,957,756
$2.0M
Market Conditions
NOI Build-Up for 24,000 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
$273.6K $11.40/SF
− Vacancy
−$21.9K −$0.91/SF
EGI
$251.7K $10.49/SF
− OpEx
−$75.5K −$3.15/SF
NOI
$176.2K $7.34/SF
Area
Bucks County, PA
Vacancy
8.00%
Lease Rate
$11.40 /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%
$3,523,960
Cap Rate 7%
$2,517,114
Cap Rate 9%
$1,957,756
Alternative Uses
Best Use
Warehouse
$3.51M
$3.07M – $4.09M
NOI $245,485 @ 7.0% cap · market cap 9.44%
Second Best
Industrial
$2.52M
$2.20M – $2.94M
NOI $176,198 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$7.28M
$6.37M – $8.49M
NOI $509,359 @ 7.0% cap · market cap 19.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19047, PA
35,452
Population
13,150
Households
2.7
Avg Household Size
45
Median Age
45%
College-Educated
97%
High-School Grad
17.2 sq mi
ZIP Area
2,061
Density / Sq Mi
$110,395
Median Household Income
$55,992
Median Earnings
$1,770
Median Rent
$441,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ace Moving & Storage Corporation — Langhorne, PA 19047
Frequently Asked Questions
What type of property is this?
Warehouse - End-unit warehouse condo with 18’ clear height and four drive-in doors, backed by roof warranty.
Where is this warehouse located?
The property is located at 4-50 Hulmeville Avenue Penndel, PA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: ±24,000 SF industrial condominium (end unit) in Lower Bucks County; 18’ clear ceiling height for efficient warehouse and distribution operations; Four (4) drive‑in overhead doors for loading and operational flow
