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Fully Occupied Investment Property

1563 Old Route 22 Lenhartsville, PA 19534

1563 Old Route 22, Lenhartsville, PA, 19534

$1,300,000

For Sale

$1,300,000

COMMERCIAL - Greenwich Twp, PA

Property Size13,801 SF

Lot Size9.86 Acres

Price / SF$94.20

AddedFeb 29, 2024

Days on Market867

Last RefreshJul 15 at 2:06 am

Property Features for 1563 Old Route 22

General Information

Property type: Commercial Sale
Property subtype: Other
Zoning: Village/Rural
Parking: 40
Parking features: Garage, Driveway, Off Street, On Street
Standard status: Active
APN: 45541512865831
Size: 13,801 SF
Lot size: 9.86 Acres

Taxes and HOA fees

Tax Annual Amount: 9606

Utilities

Sewer type: Septic Tank
Heating system: Electric (Heating)
Cooling system: Window Unit(s)
Water source: Well

Building Details

Year built: 1935
Number of units: 21
Building materials: Frame

Listing agent Shane R. Keyser

Listing office CENTURY 21 Keim Realtors 90 N Cedar Crest Blvd, Allentown, PA

Listing date Feb 29, 2024

MLS# 733730

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 fully occupied 21-unit property presents a unique investment opportunity. Situated on just shy of 10 acres, the property consists of two parcels. The unit mix includes 2 three-bedroom units, 2 two-bedroom units, and 12 one-bedroom/efficiency units. Additionally, there are 3 storage spaces, a workshop with a garage, and a commercial garage. The property offers value-add and upside potential through rent increases and the possibility of adding more units, subject to zoning and local municipality approval. All units are fully occupied with one-year leases and security deposits in place. The owner is responsible for water, sewer, trash, and common electric. Tenants are responsible for heat (electric), electric, and cable. New roofs and windows have been recently installed on all the main buildings and the commercial garage. The property is located a short 20-minute commute to the Lehigh Valley. The property size is 13801 square feet.

Key Highlights

Fully occupied 21‑unit property on just shy of 10 acres across two parcels, with 1‑year leases and security deposits in place.
Unit mix includes 2–3BR units, 2–2BR units, and 12 1BR/efficiency units.
Recent improvements: new roofs and windows installed on all main buildings and the commercial garage.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$225.2k	$16.32
− Vacancy	−$9.0k	−$0.65
EGI	$216.2k	$15.67
− OpEx	−$97.3k	−$7.05
NOI	$118.9k	$8.62

13,801 SF · lease $16.32/SF/yr · vacancy 4.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.70M

$1.49M – $1.98M (±1% cap)

NOI $118,923 @ 7.0% cap · market cap 9.15%

Second Best

—

no second resolved use

Theoretical Best

Office A

$2.27M

$1.98M – $2.64M (±1% cap)

NOI $158,590 @ 7.0% cap · market cap 12.20%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

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For sale
Apartment buildings
PA
Lenhartsville
19534
1563 Old Route 22

What type of property is this?

Apartment building - 21-unit property on 9.86 acres with value-add potential.

Where is this apartment building located?

The property is located at 1563 Old Route 22 Lenhartsville, PA.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Fully occupied 21‑unit property on just shy of 10 acres across two parcels, with 1‑year leases and security deposits in place.; Unit mix includes 2–3BR units, 2–2BR units, and 12 1BR/efficiency units.; Recent improvements: new roofs and windows installed on all main buildings and the commercial garage.