Renovated Office Building Near
For Sale
Contact for pricing
888 Glenbrook Ave, Bryn Mawr, PA 19010
Recently renovated office building near Bryn Mawr Hospital and train.
Property Size8,100 SF
Price / SF$308.64
Days on Market1242
Property Features for 888 Glenbrook Ave
General Information
Standard status
Active
Size
8,100 SF
Class
B
Property subtype
Office
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1980
Year Renovated
2021
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Prime Realty Group Inc
Listed By:
Stuart Dessner · License #PA RM060781A
(610) 668-1733
Source:
Crexi
Added: Apr 11, 2023
Changed: Aug 24
Last Checked: Sep 2 at 12:26AM
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 Prime Realty Group Inc
Investment Insights
Based on property information with market context.
This is an 8,100 square foot office building that was totally renovated in 2021. The building is located one block from Bryn Mawr Hospital and is within walking distance of the R-100 train station. The building is elevator and ADA compliant. The 2023 real estate taxes are $25,830. The 2022 operating expenses were approximately $57,221.
Key Highlights
- Totally renovated in 2021
- Elevator/ADA compliant
- One block from Bryn Mawr Hospital
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
$132,795
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
5.31%
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%
$2,655,900
$2.7M
Cap Rate 7%
$1,897,071
$1.9M
Cap Rate 9%
$1,475,500
$1.5M
Market Conditions
NOI Build-Up for 8,100 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
$213.8K $26.40/SF
− Vacancy
−$36.8K −$4.54/SF
EGI
$177.1K $21.86/SF
− OpEx
−$44.3K −$5.46/SF
NOI
$132.8K $16.39/SF
Area
Delaware County, PA
Vacancy
17.20%
Lease Rate
$26.40 /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%
$2,655,900
Cap Rate 7%
$1,897,071
Cap Rate 9%
$1,475,500
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.21M
NOI $132,795 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $171,909 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,764
Businesses Nearby
Explore this area
Business Placement
Demographics for 19010, PA
21,270
Population
8,520
Households
2.5
Avg Household Size
38
Median Age
77%
College-Educated
98%
High-School Grad
8.5 sq mi
ZIP Area
2,502
Density / Sq Mi
$143,986
Median Household Income
$61,732
Median Earnings
$1,890
Median Rent
$788,700
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 - Recently renovated office building near Bryn Mawr Hospital and train.
Where is this office building located?
The property is located at 888 Glenbrook Ave Bryn Mawr, PA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Totally renovated in 2021; Elevator/ADA compliant; One block from Bryn Mawr Hospital
