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    Commercial Site with Redevelopment Potential Title is generated by Realmo AI

    1502 Haines Rd, Levittown, PA 19055

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    2.03-acre commercial site with income-generating buildings and redevelopment opportunities.

    Type:Retail
    Lot size:
    2.03 Acres
    Added:
    May 13, 2024
    Days on Market:
    750
    Last Refresh:
    May 12 at 10:55 pm

    Property Features for 1502 Haines Rd

    General Information

    Standard status
    Active
    Lot size
    2.03 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Yvonne Hu

    Listing agent Yvonne Hu License #PA RB066711

    Listing office Anchor Commercial Development

    Listing date May 13, 2024

    Source Crexi

    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 Anchor Commercial Development

    HighLights

    • Zoning approval in place for 107 new self‑storage units and retention of 4 retail buildings.
    • Existing income‑generating property with 4 retail buildings, a 3‑bedroom apartment, 2 offices, 41 storage units, and 10 outdoor storage yards.
    • Includes architectural and engineering plans for the approved self‑storage redevelopment.
    • 2.03‑acre commercial site located on the Bristol Pike of PA, near I‑95 Turnpike Exit 6.
    • Potential for redevelopment into a community retail strip center, QSR pad site, or car wash business.
    • Projected rental income of $16,238.00 from the proposed 107 storage units.

    Overview

    This 2.03-acre commercial site is located on the Bristol Pike in Pennsylvania, near I-95 Turnpike Exit 6. The property currently features four commercial buildings occupied by four retail tenants, one office space occupied by the property management, and a three-bedroom apartment. Additionally, there are 41 container storage units and 10 fenced outdoor storage yards operating on month-to-month leases, generating income. The property has zoning approval for the redevelopment of 107 new modern self-storage units, while retaining the four retail buildings. The sale price includes zoning approval for the site to build a new storage facility, architect plans for building and storages, and engineer plans. The proposed 107 storage units range in size from 3'x6' to 8'x30', with a projected rental income of $16,238.00. Alternatively, investors may consider redeveloping the site into a community retail strip center, QSR pad site, or car wash business. The existing income-producing buildings include four retail buildings (1502-1510), a 3BR apartment (1510A), and two offices (1510B, 1510C), along with 41 storage unit containers (P1-P40, P48) and 10 outdoor fenced storage yards.
    Location Intelligence

    Current Use by Public Records

    Ponticelli Pizzeria & Restaurant Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Levittown
    County
    Bucks
    State
    Pennsylvania
    Longitude
    -74.830852
    Latitude
    40.134385

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    FAQs

    What type of property is this?
    Retail space - 2.03-acre commercial site with income-generating buildings and redevelopment opportunities.
    Where is this retail space located?
    The property is located at 1502 Haines Rd Levittown, PA.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Zoning approval in place for **107 new self‑storage units** and retention of 4 retail buildings.; Existing income‑generating property with 4 retail buildings, a 3‑bedroom apartment, 2 offices, 41 storage units, and 10 outdoor storage yards.; Includes architectural and engineering plans for the approved self‑storage redevelopment.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Yvonne Hu
    Real Estate License ID: PA RB066711
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1502 Haines Rd, Levittown, PA 19055
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