Absolute NNN Medical Office
For Sale
Contact for pricing
866 W Bristol Rd, Warminster, PA 18974
Two freestanding medical office buildings with absolute NNN structure and immediate income from a long-term tenant.
Property Size7,665 SF
Lot Size3.50 Acres
Price / SF$267.45
Days on Market535
Property Features for 866 W Bristol Rd
General Information
Standard status
Active
Size
7,665 SF
Lot size
3.50 Acres
Property subtype
OFFICE
Additional Details
Cap Rate
7%
Listing Agency:
SVN | Ahia
(215) 757-2500
Listed By:
Chichi E. Ahia, SIOR · License ##RM423727
(267) 981-9110
Source:
Moodyscre
Added: Mar 26, 2025
Changed: Aug 16
Last Checked: Sep 11 at 11:25AM
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
Investment Insights
Based on property information with market context.
This offering includes two freestanding medical office buildings under an absolute NNN lease structure. The combined building area is approximately 7,665 square feet (±), situated on about 3.5 acres of land (±). The property is presented as an income-producing investment with immediate income from an existing long-term tenant, and the lease structure is described as requiring no landlord responsibilities throughout the term.
Located at 866 W Bristol Rd in Warminster, Pennsylvania, the property is positioned near populated residential neighborhoods. Access to major connecting routes is described as convenient, with York Rd, Street Rd, and Jacksonville Rd minutes away.
The offering is presented for sale with a target 7% CAP rate, supported by the existing long-term tenancy and the stated absolute NNN structure.
Located at 866 W Bristol Rd in Warminster, Pennsylvania, the property is positioned near populated residential neighborhoods. Access to major connecting routes is described as convenient, with York Rd, Street Rd, and Jacksonville Rd minutes away.
The offering is presented for sale with a target 7% CAP rate, supported by the existing long-term tenancy and the stated absolute NNN structure.
Key Highlights
- Medical office investment with absolute NNN lease structure
- Immediate income from an existing long‑term tenant
- Two freestanding medical office buildings with a combined 7,665 SF ± building area
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
$120,506
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
5.88%
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%
$2,410,120
$2.4M
Cap Rate 7%
$1,721,514
$1.7M
Cap Rate 9%
$1,338,956
$1.3M
Market Conditions
NOI Build-Up for 7,665 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
$199.6K $26.04/SF
− Vacancy
−$38.9K −$5.08/SF
EGI
$160.7K $20.96/SF
− OpEx
−$40.2K −$5.24/SF
NOI
$120.5K $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%
$2,410,120
Cap Rate 7%
$1,721,514
Cap Rate 9%
$1,338,956
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,506 @ 7.0% cap · market cap 5.88%
Second Best
Healthcare Medical
$1.51M
$1.33M – $1.77M
NOI $106,044 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,677 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two freestanding medical office buildings with absolute NNN structure and immediate income from a long-term tenant.
Where is this medical office space located?
The property is located at 866 W Bristol Rd Warminster, PA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Medical office investment with absolute NNN lease structure; Immediate income from an existing long‑term tenant; Two freestanding medical office buildings with a combined 7,665 SF ± building area
