Property Details for 0 Am Dr

Year built

1983

Lot size

6.38 lot acres

Property size

46,000 SF

Property type

Office properties & Spaces

Property subtype

Medical space

Description

This exceptional Class A office building, situated on 6.38 acres in Quakertown, Pennsylvania, presents a compelling value-add investment opportunity. The 46,000 square foot, two-story building, constructed in 1983 and significantly renovated in 2008 and 2013-2015, boasts an elegant second-floor atrium, a two-stop elevator, and rear loading capabilities. Currently 76% occupied across nine units with a modified lease structure averaging 5-year terms, the property offers a strong existing net operating income (NOI) of $328,314, yielding a 7.06% cap rate. Significant capital improvements exceeding $500,000 were completed in 2013, including a new parking lot and interior refitting of over 83% of the building. Over 16,000 square feet were leased in the past year. The remaining 24% (approximately 11,114 square feet) on the second floor is available for lease or owner-occupancy, with rental rates at $18.50 per square foot, net of utilities and janitorial services. The property is zoned for commercial use and benefits from its prime location adjacent to the Quakertown Interchange of the Pennsylvania Turnpike. The asking price is $7,200,000, representing a price per square foot of $108.70 and a 7.83% projected cap rate based on potential NOI. This presents a rare chance to acquire a well-maintained, high-quality office building with substantial upside potential in a desirable location.

Location Insight

City

Quakertown

County

Bucks

State

Pennsylvania

Longitude

-75.42

Latitude

40.439