Brick Church Facility with Open
For Sale
$350,000
1521 E 6th Street, Bethlehem, PA 18015
ResidentialIncome, Bethlehem City, PA
Property Size1,931 SF
Lot Size0.39 Acres
Price / SF$181.25
Days on Market251
Property Features for 1521 E 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Rm-Residential
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Parking
1
Subdivision
Not in Development
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
Turn right onto Williams St. and Turn left onto E 5th St.
Standard status
Active
APN
P7SW1B 4 4 0204
Size
1,931 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Annual Amount
3510
Utilities
Sewer type
Public Sewer
Heating system
Steam
Water source
Public
Building Details
Year built
1916
Number of units
1
Building materials
Brick
Listing Agency:
Century 21 Ramos Realty · Century 21 Real Estate
(610) 866-4423
Listed By:
Anthony Ramos · License #AB068035
(484) 695-4887
Added: Jan 2
Changed: Sep 2
Last Checked: Sep 10 at 10:06AM
MLS# 769858
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 1916 brick church facility contains 1,931 square feet on a 0.386-acre lot. The building was converted to residential use and includes large open areas, high ceilings, oversized windows, and a lower-level basement. Steam heat serves the property, with public water and public sewer. The interior includes one bedroom and one bathroom.
The property is located at 1521 E 6th Street in Bethlehem City, Pennsylvania 18015, with the City of Bethlehem Greenway directly behind the building. Rm-Residential zoning is identified for the site. The existing configuration has been considered for residential, studio, gallery, and mixed-use concepts, subject to applicable approvals.
The property is located at 1521 E 6th Street in Bethlehem City, Pennsylvania 18015, with the City of Bethlehem Greenway directly behind the building. Rm-Residential zoning is identified for the site. The existing configuration has been considered for residential, studio, gallery, and mixed-use concepts, subject to applicable approvals.
Key Highlights
- 1,931‑square‑foot former church converted to residential use
- 0.386‑acre lot at 1521 E 6th Street, Bethlehem City, PA 18015
- Brick construction dating to 1916
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
$19,877
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
5.68%
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%
$397,540
$397.5K
Cap Rate 7%
$283,957
$284.0K
Cap Rate 9%
$220,856
$220.9K
Market Conditions
NOI Build-Up for 1,931 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
$34.8K $18.00/SF
− Vacancy
−$3.0K −$1.53/SF
EGI
$31.8K $16.47/SF
− OpEx
−$11.9K −$6.18/SF
NOI
$19.9K $10.29/SF
Area
Lehigh County, PA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$397,540
Cap Rate 7%
$283,957
Cap Rate 9%
$220,856
Alternative Uses
Best Use
Mixed Use
$284.0K
$248.5K – $331.3K
NOI $19,877 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$161.2K
$141.0K – $188.0K
NOI $11,281 @ 7.0% cap · market cap 3.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Former church converted to residential use with high ceilings, oversized windows, and a lower-level basement.
Where is this church & religious facility located?
The property is located at 1521 E 6th Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,931‑square‑foot former church converted to residential use; 0.386‑acre lot at 1521 E 6th Street, Bethlehem City, PA 18015; Brick construction dating to 1916
