10K SF CLASS A COMMERCIAL SPACE - $1,260,000 (ON MARKET)
Address: 1921 Union Blvd., Allentown City, PA 18109
List Price: $1,260,000
Property Type: Commercial
Year Built: 1960
Year Renovated: 2004
Building Size: 10,270 SF
Price Per Square Foot: N/A
Lot Square Footage: 16,814 SF
Occupancy: Vacant
Frontage: 160 FT
Units: 3
Cap Rate: 7.94%
Remarks:
Renovated in 2004, this 10,270 SF building sits on a .38 AC lot & is located on a heavily traveled street within the City of Allentown. Commercially zoned as B-3-Highway Business allowing versatile uses, the Property was previously the location of Lehigh Valley's premiere beauty institute producing the best in the business. The building had a new roof replacement in 2013. The building is broken down into 3 units that could be leased including a 1,200+ SF end unit & two units that are approx. 4,500 SF each (separate utilities for each). The going lease rate is $10/sf (NNN) "as is" condition totaling over $100K in income equalling an 8% cap rate at asking. The building has multiple offices with an open floor plan as well as Stunning curb appeal with a modern design & the 140 feet of frontage is highlighted with large glass panels. With a traffic count of over 15K per day & located at a busy traffic light, this property's location to the airport & RT 22 makes it perfect for any use.
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