Two-Story Office Condominium
For Sale
$739,900
600 Louis Dr #201, Warminster, PA 18974
Turnkey two-story office condo with reception, conference room, private offices, and ample storage within an atrium campus setting.
Property Size4,185 SF
Price / SF$176.80
Days on Market48
Property Features for 600 Louis Dr #201
General Information
Standard status
Active
Size
4,185 SF
Class
B
Property subtype
Multi Tenant Office
Additional Details
Highway Access
Yes
Amenities
central atrium
outdoor seating areas
professionally landscaped grounds
Building Details
Building Size
4,185 SF
Year Built
1985
Stories
2
Properties For Sale
at 600 Louis Dr #201 Contact us- Size
- 4,185 SF
- Lease Type
- Modified Gross
600 Louis Drive,#201
Listing Agency:
SVN | Ahia Commercial
Listed By:
CHICHI AHIA
(215) 757-2500
Source:
Thebrokerlist
Added: Jul 22
Changed: Sep 6
Last Checked: Sep 7 at 4:30AM
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 SVN | Ahia Commercial
Investment Insights
Based on property information with market context.
Professional office condominium available for sale or lease at the Warminster Atrium Business Park in Warminster Township. The turnkey space features a functional two-story layout totaling approximately 4,185 SF. The main level includes a reception area, conference room, open bullpen/workspace, and three private offices, with abundant natural light. The lower level adds seven private offices plus ample storage space.
The unit is a corner location within a central atrium office park campus. The setting includes outdoor seating areas and professionally landscaped grounds. Access is described as excellent, with the property located just off Street Road (PA-132) and providing convenient access to York Road (PA-263), Route 611, County Line Road, and the Pennsylvania Turnpike (I-276). The surrounding area includes retail amenities and business services.
This offering provides a mix of collaborative open workspace and multiple private offices across two levels, supported by an on-site storage component for day-to-day operations.
The unit is a corner location within a central atrium office park campus. The setting includes outdoor seating areas and professionally landscaped grounds. Access is described as excellent, with the property located just off Street Road (PA-132) and providing convenient access to York Road (PA-263), Route 611, County Line Road, and the Pennsylvania Turnpike (I-276). The surrounding area includes retail amenities and business services.
This offering provides a mix of collaborative open workspace and multiple private offices across two levels, supported by an on-site storage component for day-to-day operations.
Key Highlights
- Approximately 4,185 SF turnkey professional office condominium with a functional two‑story layout
- Main level features a reception area, conference room, open bullpen/workspace, and three private offices
- Lower level includes seven additional private offices plus ample storage space
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
$65,795
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
8.89%
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%
$1,315,900
$1.3M
Cap Rate 7%
$939,929
$939.9K
Cap Rate 9%
$731,056
$731.1K
Market Conditions
NOI Build-Up for 4,185 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
$109.0K $26.04/SF
− Vacancy
−$21.3K −$5.08/SF
EGI
$87.7K $20.96/SF
− OpEx
−$21.9K −$5.24/SF
NOI
$65.8K $15.72/SF
Area
Bucks County, PA
Vacancy
19.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,315,900
Cap Rate 7%
$939,929
Cap Rate 9%
$731,056
Alternative Uses
Best Use
Office B
$939.9K
$822.4K – $1.10M
NOI $65,795 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,819 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 18974, PA
42,507
Population
17,970
Households
2.4
Avg Household Size
47
Median Age
39%
College-Educated
95%
High-School Grad
19.7 sq mi
ZIP Area
2,158
Density / Sq Mi
$99,724
Median Household Income
$57,726
Median Earnings
$1,634
Median Rent
$407,300
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.
Frequently Asked Questions
What type of property is this?
Office units - Turnkey two-story office condo with reception, conference room, private offices, and ample storage within an atrium campus setting.
Where is this office units located?
The property is located at 600 Louis Dr #201 Warminster, PA.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Approximately 4,185 SF turnkey professional office condominium with a functional two‑story layout; Main level features a reception area, conference room, open bullpen/workspace, and three private offices; Lower level includes seven additional private offices plus ample storage space
