Equipped Conventional
For Sale
$429,000
11 Pennsylvania Avenue, Pen Argyl, PA 18072
ResidentialIncome, Pen Argyl Boro, PA
Property Size2,523 SF
Lot Size0.09 Acres
Price / SF$170.04
Days on Market19
Property Features for 11 Pennsylvania Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
25GB
Bathrooms
4
Half bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2
Parking
4
Parking features
Parking Lot, Off Street, On Street
Subdivision
Not in Development
Elementary school district
Pen Argyl
Middle school district
Pen Argyl
High school district
Pen Argyl
Directions
Rt 33 Exit Wind Gap to PA avenue West number 11
Standard status
Active
APN
E8NE2A 34 2 0625
Size
2,523 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4415
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1950
Number of units
1
Building materials
Brick
Listing Agency:
Howard Hanna TheFrederickGroup
(610) 398-0411
Listed By:
Marina Gabunia · License #PA347078
(484) 201-9878
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 28 at 8:06PM
MLS# 782450
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This conventional restaurant property includes the real estate and operating business, with commercial infrastructure already installed for food service. The building features a 16-foot exhaust hood, pizza oven, dough mixer, walk-in cooler and freezer, three-compartment sink, commercial cooking equipment, and four restrooms. Dining accommodations include a main room for approximately 60 guests and a separate 30-seat private party room. The additional room can support events, catering, dining, office, or retail use. A second-floor living area has been renovated, along with flooring and dining areas. Central air conditioning, ceiling fans, electric and natural-gas heating, public water, and public sewer serve the property. Parking is available in a lot, off street, and on street. The property is located in Pen Argyl Borough, Pennsylvania, near established businesses including a bank and the United States Postal Service. The building was constructed in 1950 on a 0.092-acre lot and is zoned 25GB.
Key Highlights
- Operating restaurant business and real estate included
- 16‑foot exhaust hood, pizza oven, dough mixer, and walk‑in cooler and freezer
- Main dining room seats approximately 60 guests
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
$26,170
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
6.10%
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%
$523,400
$523.4K
Cap Rate 7%
$373,857
$373.9K
Cap Rate 9%
$290,778
$290.8K
Market Conditions
NOI Build-Up for 2,523 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
$37.8K $15.00/SF
− Vacancy
−$3.0K −$1.17/SF
EGI
$34.9K $13.83/SF
− OpEx
−$8.7K −$3.46/SF
NOI
$26.2K $10.37/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$15.00 /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%
$523,400
Cap Rate 7%
$373,857
Cap Rate 9%
$290,778
Alternative Uses
Best Use
Specialty Retail
$373.9K
$327.1K – $436.2K
NOI $26,170 @ 7.0% cap · market cap 6.10%
Second Best
Industrial
$268.0K
$234.5K – $312.7K
NOI $18,759 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$478.5K
$418.7K – $558.3K
NOI $33,497 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Beauty & Spa 9%
Turkey Hill Minit Market
Shops & Services
6,863 visits/mo
0.4 miles
Holiday Hair
Beauty & Spa
673 visits/mo
0.4 miles
Demographics for 18072, PA
6,734
Population
2,779
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
452
Density / Sq Mi
$79,067
Median Household Income
$41,056
Median Earnings
$1,525
Median Rent
$244,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with installed commercial kitchen systems, dining areas, private event space, and included operating business.
Where is this conventional restaurant located?
The property is located at 11 Pennsylvania Avenue Pen Argyl, PA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Operating restaurant business and real estate included; 16‑foot exhaust hood, pizza oven, dough mixer, and walk‑in cooler and freezer; Main dining room seats approximately 60 guests
