Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1183 Mechanic Bethlehem, PA 18015

    View on Map
    Claim this Listing
    Pending
    $125,000

    UnimprovedLand - Bethlehem City, PA

    Lot size:
    0.12 Acres
    Added:
    Jul 29, 2025
    Days on Market:
    273
    Last Refresh:
    Apr 27 at 5:06 am

    Property Features for 1183 Mechanic

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Lot size
    0.12 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Peter Adams

    Listing agent Peter Adams

    Listing office BHHS Fox & Roach Macungie 3261 Route100, PA

    Listing date Jul 29, 2025

    MLS# 761987 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Approved Multifamily Construction Site

    This approved building lot is located at 1183 Mechanic Street in the Southside area of Bethlehem, Pennsylvania. The property is situated three blocks from the Wind Creek Casino and less than 2 miles from Lehigh University. This historic area has experienced significant development over the past 7 years, including numerous retail, hospitality, restaurant, multifamily, and renovation projects. According to the provided information, demand and supporting metrics remain strong for residential and commercial rents and property values in the area. The seller acquired the site in 2023 and developed construction plans for a four-unit apartment building. These plans have been successfully taken through the municipal zoning approval process. The approved project allows for improved lot coverage and setbacks. The property is 0.118 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethlehem
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.359855
    Latitude
    40.611891

    Nearby Similar for Sale

    • $399,900
      2,696 SF

      Bethlehem City Commercial Office Opportunity

      Professional office space in Bethlehem City, ideal for various businesses.
      115 E Broad Street, Bethlehem City, PA 18018
      View Details
    • $399,900
      2,696 SF

      Bethlehem Professional Office Opportunity

      Well-maintained office space suitable for various professional uses.
      115 E Broad Street, Bethlehem, PA 18018
      View Details
    • $999,500

      Turnkey Restaurant with Liquor License

      High-traffic restaurant with equipment, inventory, and liquor license included.
      1769 E National Pike, North Bethlehem, PA 15360
      View Details
    • $2,000
      5,276 SF

      Prime Corner Storefront with Charm

      Turn-key storefront with historic charm in Bethlehem City, PA.
      836 E 5th Street, Bethlehem City, PA 18015
      View Details
    • $1,500,000
      5,296 SF

      Versatile Commercial Property on 1.7 Acres

      Commercial property in high-traffic location with expansion potential.
      3839 Easton Avenue, Bethlehem Twp, PA 18020
      View Details
    • $350,000
      1,931 SF

      Former Church with Redevelopment Potential

      Unique property in South Bethlehem with endless possibilities.
      1521 E 6th Street, Bethlehem City, PA 18015
      View Details
    • $1,375,000
      2,589 SF

      Bethlehem Land Development Opportunity

      Land for sale with commercial zoning in Bethlehem, PA.
      968 Hellertown Road, Bethlehem City, PA 18015
      View Details
    • $350,000
      1,931 SF

      Former Church with Redevelopment Potential

      Unique property in South Bethlehem with endless possibilities.
      1521 E 6th Street, Bethlehem City, PA 18015
      View Details
    • $599,900
      4,082 SF

      Mixed-Use Property in Bethlehem City

      Unique mixed-use property with commercial space and residential units.
      431 W Union Boulevard, Bethlehem City, PA 18018
      View Details
    • $1,400
      2,008 SF

      Versatile Commercial Space in Bethlehem

      Move-in-ready commercial space suitable for various professional uses.
      630 W Broad Street, Bethlehem City, PA 18018
      View Details
    • $599,900
      4,082 SF

      Bethlehem City Commercial Property

      Unique mixed-use property with development potential in North Bethlehem.
      431 W Union Boulevard, Bethlehem City, PA 18018
      View Details
    • $425,000

      Bethlehem Commercial Land For Sale

      Prime commercial land in thriving Bethlehem Township.
      4006 Easton Avenue, Bethlehem, PA 18020
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Approved building lot in Bethlehem's Southside, near Wind Creek Casino.
    Where is this residential land & home lot located?
    The property is located at 1183 Mechanic Bethlehem, PA.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: Approved multifamily construction site for a four‑unit apartment building.; Located in the highly sought‑after Southside of Bethlehem, Pennsylvania.; Zoning approval process for improved lot coverage and setbacks is already completed.
    (484) 357-6924
    We can help!
    Listing Contact
    Peter Adams
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!