Medical Office Building with Dental
For Sale
$1,700,000
2900 Hamilton Boulevard, Allentown, PA 18103
CommercialSale, Allentown City, PA
Property Size6,900 SF
Lot Size0.49 Acres
Price / SF$246.38
Days on Market355
Property Features for 2900 Hamilton Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R-H
Parking
28
Parking features
Parking Lot
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Route 78 to Hamilton Blvd East exit; property will be on right.
Subdivision
Allentown-West
Standard status
Active
APN
548683974419 001
Size
6,900 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Annual Amount
23961
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Yousef Alhaddad
(610) 435-1800
Added: Sep 9, 2025
Changed: Aug 19
Last Checked: Aug 29 at 3:06AM
MLS# 764425
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.
The 6,900-square-foot medical office building at 2900 Hamilton Boulevard was constructed in 1985 and features brick construction, electric heat, central air, a composition roof, and a dedicated parking lot. The property is currently occupied by a dental operator and a regional engineering firm. A 2,400-square-foot dental practice with six operatories is also available separately for an additional $600,000.
The property occupies a 0.493-acre parcel along Hamilton Boulevard, with shared ingress and egress with Wells Fargo Bank at a signalized intersection. It is located less than one mile from Lehigh Valley Hospital-Cedar Crest and across from Cedar Crest College. Public water and public sewer serve the site, and the property is zoned R-H.
The property occupies a 0.493-acre parcel along Hamilton Boulevard, with shared ingress and egress with Wells Fargo Bank at a signalized intersection. It is located less than one mile from Lehigh Valley Hospital-Cedar Crest and across from Cedar Crest College. Public water and public sewer serve the site, and the property is zoned R-H.
Key Highlights
- 6,900 SF medical office building constructed in 1985
- 2,400 SF dental practice with 6 operatories available separately
- Current occupancy includes a dental operator and regional engineering firm
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
$60,386
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
3.55%
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%
$1,207,720
$1.2M
Cap Rate 7%
$862,657
$862.7K
Cap Rate 9%
$670,956
$671.0K
Market Conditions
NOI Build-Up for 6,900 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
$107.6K $15.60/SF
− Vacancy
−$7.0K −$1.01/SF
EGI
$100.6K $14.59/SF
− OpEx
−$40.3K −$5.83/SF
NOI
$60.4K $8.75/SF
Area
Allentown, PA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,207,720
Cap Rate 7%
$862,657
Cap Rate 9%
$670,956
Alternative Uses
Best Use
Healthcare Medical
$862.7K
$754.8K – $1.01M
NOI $60,386 @ 7.0% cap · market cap 3.55%
Second Best
Office B
$535.1K
$468.2K – $624.3K
NOI $37,459 @ 7.0% cap · market cap 2.20%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $94,889 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18103, PA
48,358
Population
19,769
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
17.2 sq mi
ZIP Area
2,812
Density / Sq Mi
$72,545
Median Household Income
$38,377
Median Earnings
$1,333
Median Rent
$242,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick medical office property with two occupants, shared signalized access, and public water and sewer service.
Where is this medical office space located?
The property is located at 2900 Hamilton Boulevard Allentown, PA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 6,900 SF medical office building constructed in 1985; 2,400 SF dental practice with 6 operatories available separately; Current occupancy includes a dental operator and regional engineering firm
