End-Unit Industrial
For Sale
$2,600,000
50 Hulmeville Ave #4, Penndel, PA 19047
Functional industrial condo with 18’ clear ceiling height and four drive-in overhead doors for efficient distribution and loading.
Property Size24,000 SF
Price / SF$108.33
Days on Market86
Property Features for 50 Hulmeville Ave #4
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
4
Taxes and HOA fees
Annual Taxes
$44,039
Building Details
Year Built
1916
Listing Agency:
KELLER WILLIAMS REAL ESTATE TRI-COUNTY
(215) 464-8800
Listed By:
ANUSHERVON ODILOV · License #AB069251
Source:
Corcoran
Added: May 31
Changed: Aug 23
Last Checked: Aug 22 at 5:35PM
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 offers a highly functional warehouse layout designed to support a range of industrial, warehousing, and distribution uses. The space includes 18’ clear ceiling heights and four (4) drive-in overhead doors, supporting practical loading and operational flow. Significant exterior capital improvements are underway, including a brand-new roof to be completed prior to closing and delivered fully warrantied, along with planned facade enhancements to modernize the appearance. A front parking lot resurfacing is also scheduled post-closing.
Located at 50 Hulmeville Road in Penndel, Pennsylvania, the property is positioned for visibility along Hulmeville Road, with marquee signage mentioned in the offering. The site provides ample on-site parking for staff and operations, supporting both day-to-day activity and customer or contractor access.
With its end-unit configuration, the building is presented as offering increased accessibility, natural light, and operational flexibility compared with interior units. The combination of ceiling height, multiple drive-in doors, and the planned roof, facade, and parking updates makes the condo well-suited for owner-users, investors, or expanding businesses looking to acquire an upgraded industrial asset in Lower Bucks County.
Located at 50 Hulmeville Road in Penndel, Pennsylvania, the property is positioned for visibility along Hulmeville Road, with marquee signage mentioned in the offering. The site provides ample on-site parking for staff and operations, supporting both day-to-day activity and customer or contractor access.
With its end-unit configuration, the building is presented as offering increased accessibility, natural light, and operational flexibility compared with interior units. The combination of ceiling height, multiple drive-in doors, and the planned roof, facade, and parking updates makes the condo well-suited for owner-users, investors, or expanding businesses looking to acquire an upgraded industrial asset in Lower Bucks County.
Key Highlights
- 24,000 SF end‑unit industrial condominium in Penndel, PA, on Hulmeville Road
- 18' clear ceiling heights for industrial/warehouse use and loading operations
- Four (4) drive‑in overhead doors for efficient distribution and access
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
447
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 - Functional industrial condo with 18’ clear ceiling height and four drive-in overhead doors for efficient distribution and loading.
Where is this warehouse located?
The property is located at 50 Hulmeville Ave #4 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 end‑unit industrial condominium in Penndel, PA, on Hulmeville Road; 18' clear ceiling heights for industrial/warehouse use and loading operations; Four (4) drive‑in overhead doors for efficient distribution and access
