Two-Story End-Unit Industrial
For Sale
$2,999,000
6-50 Hulmeville Avenue, Penndel, PA 19047
Two-story end-unit industrial condominium with second-floor offices and meeting space, plus recent roof and capital improvements.
Property Size48,000 SF
Price / SF$62.48
Days on Market98
Property Features for 6-50 Hulmeville Avenue
General Information
Standard status
Active
Size
48,000 SF
Taxes and HOA fees
Annual Taxes
$44,039
Building Details
Stories
2
Listing Agency:
Keller Williams Real Estate Tri-County
(215) 464-8800
Listed By:
Anushervon Odilov · License #RS378130
(267) 784-9975
Source:
Exprealty
Added: Jun 1
Changed: Aug 21
Last Checked: Sep 5 at 10:57AM
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.
Two-story, end-unit industrial condominium totaling approximately 48,000 square feet, with about 24,000 square feet on each floor. The second floor includes multiple offices and meeting areas, supporting a layout that can combine warehouse or distribution activity with on-site administrative space. The property is positioned as a flexible industrial option for users seeking operational and office functionality in one building.
Located in Lower Bucks County at 6-50 Hulmeville Avenue (PennDEL, PA 19047), the end-unit configuration is designed to support accessibility and overall functionality. The roof is only two (2) years old, and the condominium will be delivered with a one (1) year transferable warranty.
Exterior work is underway, with ongoing façade renovations planned to modernize the building’s exterior and improve curb appeal. In addition, the front parking area will be fully resurfaced post-closing, following the completion of improvements.
Located in Lower Bucks County at 6-50 Hulmeville Avenue (PennDEL, PA 19047), the end-unit configuration is designed to support accessibility and overall functionality. The roof is only two (2) years old, and the condominium will be delivered with a one (1) year transferable warranty.
Exterior work is underway, with ongoing façade renovations planned to modernize the building’s exterior and improve curb appeal. In addition, the front parking area will be fully resurfaced post-closing, following the completion of improvements.
Key Highlights
- Two‑story end‑unit industrial condominium totaling ~48,000 SF (about 24,000 SF per floor).
- Second floor includes multiple offices and meeting areas for operational and administrative space in one building.
- Roof is only 2 years old and the property will be delivered with a 1‑year transferable warranty.
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
Office B
$10.78M
$9.43M – $12.58M
NOI $754,639 @ 7.0% cap · market cap 25.16%
Second Best
Warehouse
$7.01M
$6.14M – $8.18M
NOI $490,971 @ 7.0% cap · market cap 16.37%
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
Current Use
Location Intelligence
Trade Area within ½ mile
478
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Apron Catering LLC — 420 N Bellevue Ave, Langhorne, PA 19047
Frequently Asked Questions
What type of property is this?
Flex space - Two-story end-unit industrial condominium with second-floor offices and meeting space, plus recent roof and capital improvements.
Where is this flex space located?
The property is located at 6-50 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: Two‑story end‑unit industrial condominium totaling ~48,000 SF (about 24,000 SF per floor).; Second floor includes multiple offices and meeting areas for operational and administrative space in one building.; Roof is only 2 years old and the property will be delivered with a 1‑year transferable warranty.
