Two-Story End-Unit Flex
For Sale
$2,999,000
50 HULMEVILLE Avenue, Penndel, PA 19047
Commercial Sale, PENNDEL, PA
Property Size48,000 SF
Lot Size6.15 Acres
Price / SF$62.48
Days on Market94
Property Features for 50 HULMEVILLE Avenue
General Information
Property type
Other
Property subtype
Retail
Parking
115
Parking features
Parking Lot
Elementary school district
NESHAMINY
Middle school district
NESHAMINY
High school district
NESHAMINY
Standard status
Active
Lot size
6.15 Acres
Taxes and HOA fees
Tax Annual Amount
44039
Building Details
Year built
1916
Listing Agency:
Keller Williams Real Estate Tri-County · Keller Williams Realty
(215) 464-8800
Listed By:
Anushervon Odilov · License #RS378130
(267) 784-9975
Added: Jun 1
Changed: Aug 19
Last Checked: Sep 2 at 7:06PM
MLS# PABU2122788
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story end-unit flex space comprises approximately 48,000 square feet, with about 24,000 square feet on each level. The layout supports warehouse, distribution, light industrial, and retail or showroom functions, while the upper floor adds multiple offices and meeting areas for combined operational and administrative use. A roof installed two years ago will convey with a one-year transferable warranty. Exterior facade work is underway, and the front parking area is scheduled for resurfacing after closing.
The property is located at 50 Hulmeville Avenue in Penndel, Bucks County, Pennsylvania. The site encompasses 6.15 acres and includes a parking lot. Built in 1916, the condominium offers substantial floor area within an end-unit configuration suited to businesses requiring flexible space and integrated office infrastructure.
The property is located at 50 Hulmeville Avenue in Penndel, Bucks County, Pennsylvania. The site encompasses 6.15 acres and includes a parking lot. Built in 1916, the condominium offers substantial floor area within an end-unit configuration suited to businesses requiring flexible space and integrated office infrastructure.
Key Highlights
- Approximately 48,000 SF across two floors, with approximately 24,000 SF per floor
- Two‑story end‑unit configuration at 50 HULMEVILLE Avenue, PENNDEL, PA 19047
- Upper level includes multiple offices and meeting areas
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
$246,355
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
8.21%
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%
$4,927,100
$4.9M
Cap Rate 7%
$3,519,357
$3.5M
Cap Rate 9%
$2,737,278
$2.7M
Market Conditions
NOI Build-Up for 48,000 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
$403.2K $8.40/SF
− Vacancy
−$24.2K −$0.50/SF
EGI
$379.0K $7.90/SF
− OpEx
−$132.7K −$2.76/SF
NOI
$246.4K $5.13/SF
Area
Bucks County, PA
Vacancy
6.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$4,927,100
Cap Rate 7%
$3,519,357
Cap Rate 9%
$2,737,278
Alternative Uses
Best Use
Warehouse
$7.01M
$6.14M – $8.18M
NOI $490,971 @ 7.0% cap · market cap 16.37%
Second Best
Industrial
$5.03M
$4.40M – $5.87M
NOI $352,397 @ 7.0% cap · market cap 11.75%
Theoretical Best
Office A
$14.55M
$12.73M – $16.98M
NOI $1,018,718 @ 7.0% cap · market cap 33.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Flex space - Flexible industrial condominium with warehouse, office, meeting, and showroom-use areas.
Where is this flex space located?
The property is located at 50 HULMEVILLE Avenue Penndel, PA.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Approximately 48,000 SF across two floors, with approximately 24,000 SF per floor; Two‑story end‑unit configuration at 50 HULMEVILLE Avenue, PENNDEL, PA 19047; Upper level includes multiple offices and meeting areas
