Two-Story Office
For Sale
Contact for pricing
662 Penn Street, Newtown, PA 18940
Class A office property with a finished lower level and medical office use permitted by right.
Property Size88,746 SF
Lot Size7.10 Acres
Price / SF$202.26
Days on Market85
Property Features for 662 Penn Street
General Information
Standard status
Active
Size
88,746 SF
Class
A
Total Parking Spaces
366
Lot size
7.10 Acres
Property subtype
Office
Zoning
Light Industrial
Investment Type
Institutional
Building Details
Year Built
2004
Buildings
1
Stories
2
Units
366
Building Size
88,746 SF
Listing Agency:
Bracket Real Estate
Listed By:
Brandon Colombo · License #738514
Source:
Crexi
Added: Jun 9
Changed: Aug 31
Last Checked: Aug 31 at 2:13AM
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 Bracket Real Estate
Investment Insights
Based on property information with market context.
Constructed in 2004, this Class A office property contains 88,746 square feet across two stories and a finished lower level. The building sits on a 7.1-acre site and provides 366 parking spaces, including 54 covered spaces.
Located at 662 Penn Street in Newtown, Pennsylvania, the property is zoned LI (light industrial). Medical office use is allowed by right under the current zoning designation.
Located at 662 Penn Street in Newtown, Pennsylvania, the property is zoned LI (light industrial). Medical office use is allowed by right under the current zoning designation.
Key Highlights
- 88,746 square feet in a two‑story office building with a finished lower level
- Situated on a 7.1‑acre site at 662 Penn Street, Newtown, Pennsylvania
- 366 on‑site parking spaces, including 54 covered spaces
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
$1,395,234
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
7.77%
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%
$27,904,680
$27.9M
Cap Rate 7%
$19,931,914
$19.9M
Cap Rate 9%
$15,502,600
$15.5M
Market Conditions
NOI Build-Up for 88,746 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
$2.31M $26.04/SF
− Vacancy
−$450.6K −$5.08/SF
EGI
$1.86M $20.96/SF
− OpEx
−$465.1K −$5.24/SF
NOI
$1.40M $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%
$27,904,680
Cap Rate 7%
$19,931,914
Cap Rate 9%
$15,502,600
Alternative Uses
Best Use
Office B
$19.93M
$17.44M – $23.25M
NOI $1,395,234 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$26.91M
$23.54M – $31.39M
NOI $1,883,483 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 18940, PA
30,280
Population
11,763
Households
2.6
Avg Household Size
47
Median Age
67%
College-Educated
97%
High-School Grad
34.6 sq mi
ZIP Area
875
Density / Sq Mi
$157,591
Median Household Income
$85,895
Median Earnings
$2,227
Median Rent
$623,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Class A office property with a finished lower level and medical office use permitted by right.
Where is this office building located?
The property is located at 662 Penn Street Newtown, PA.
What is the asking price?
The asking price for this property is $17,950,000.
What are key features of this property?
This property features: 88,746 square feet in a two‑story office building with a finished lower level; Situated on a 7.1‑acre site at 662 Penn Street, Newtown, Pennsylvania; 366 on‑site parking spaces, including 54 covered spaces
