Industrial Condominium with Marquee
For Sale
$1,250,000
5-50 Hulmeville Avenue, Penndel, PA 19047
Industrial condominium offers flexible use with certified roof, ongoing facade work, and marquee road signage.
Property Size14,000 SF
Price / SF$89.29
Days on Market70
Property Features for 5-50 Hulmeville Avenue
General Information
Standard status
Active
Size
14,000 SF
Taxes and HOA fees
Annual Taxes
$44,039
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: Aug 8
Last Checked: Aug 8 at 7:38AM
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 sale features a highly functional industrial condominium configured to support a range of industrial, warehouse, or distribution uses. The property is being delivered with a certified roof and includes a one-year transferable warranty for added ownership assurance. Ongoing facade improvements are in progress to enhance the building’s exterior appearance, and the front parking area is scheduled to be resurfaced after closing.
The unit also benefits from marquee signage along Hulmeville Road, providing prominent exposure for business branding. The site includes ample on-site parking to support day-to-day operations and customer or employee parking needs.
For owner-users and investors, the combination of flexible industrial space, road-visible signage, and capital improvements underway may help reduce near-term operational and property maintenance concerns. The certified roof and transferable warranty provide a clear, tangible ownership benefit, while the building’s exterior and parking-area enhancements are intended to improve overall site usability. This is a straightforward fit for industrial tenants or buyers seeking a versatile condominium warehouse/distribution platform.
The unit also benefits from marquee signage along Hulmeville Road, providing prominent exposure for business branding. The site includes ample on-site parking to support day-to-day operations and customer or employee parking needs.
For owner-users and investors, the combination of flexible industrial space, road-visible signage, and capital improvements underway may help reduce near-term operational and property maintenance concerns. The certified roof and transferable warranty provide a clear, tangible ownership benefit, while the building’s exterior and parking-area enhancements are intended to improve overall site usability. This is a straightforward fit for industrial tenants or buyers seeking a versatile condominium warehouse/distribution platform.
Key Highlights
- Approximately 114,000 SF industrial condominium unit in Lower Bucks County corridor
- Certified roof delivered at closing with a one (1) year transferable warranty
- Building undergoing facade improvements, with additional parking lot resurfacing planned post‑closing
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
$102,782
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
8.22%
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%
$2,055,640
$2.1M
Cap Rate 7%
$1,468,314
$1.5M
Cap Rate 9%
$1,142,022
$1.1M
Market Conditions
NOI Build-Up for 14,000 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
$159.6K $11.40/SF
− Vacancy
−$12.8K −$0.91/SF
EGI
$146.8K $10.49/SF
− OpEx
−$44.0K −$3.15/SF
NOI
$102.8K $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%
$2,055,640
Cap Rate 7%
$1,468,314
Cap Rate 9%
$1,142,022
Alternative Uses
Best Use
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,200 @ 7.0% cap · market cap 11.46%
Second Best
Industrial
$1.47M
$1.28M – $1.71M
NOI $102,782 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$4.24M
$3.71M – $4.95M
NOI $297,126 @ 7.0% cap · market cap 23.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condominium offers flexible use with certified roof, ongoing facade work, and marquee road signage.
Where is this warehouse located?
The property is located at 5-50 Hulmeville Avenue Penndel, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 114,000 SF industrial condominium unit in Lower Bucks County corridor; Certified roof delivered at closing with a one (1) year transferable warranty; Building undergoing facade improvements, with additional parking lot resurfacing planned post‑closing
