For Sale
$7,200,000

Am Dr Quakertown, PA 18951

Class A Office, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
135
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.

Highlights

  • Prime location.
  • Significant nearby development activity.
  • 83% of interior recently renovated.
  • Over $500,000 in capital improvements completed in 2013.
  • 24% of building available for owner-occupancy.
  • New parking lot constructed in 2013.

Property Details for 0 Am Dr

Property type
Office properties, Medical space
Square Feet
46,000 SF
Class
A
Year Built
1983
Buildings
1
Stories
2
Lot Size (sq. ft)
277,913 SF
Units
9

Location Insight

City
Quakertown
County
Bucks
State
Pennsylvania
Latitude
40.43897099
Longitude
-75.42000872

FAQs

What type of property is this?
Office property - Class A Office, Value-Add Opportunity
Where is the office property located?
The property is located at Am Dr Quakertown, PA.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: Prime location.; Significant nearby development activity.; 83% of interior recently renovated.
How can I contact the broker?
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0 Am Dr
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