Mixed-Use Building with
For Sale
$617,000
42 N 3rd Street, Easton, PA 18042
ResidentialIncome, Easton, PA
Property Size4,189 SF
Lot Size0.05 Acres
Price / SF$147.29
Days on Market45
Property Features for 42 N 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
DD Downtown District
Parking
8
Parking features
Parking Lot, Off Street
Subdivision
Not in Development
Elementary school district
Easton
Middle school district
Easton
High school district
Easton
Directions
From Centre Sq to N 3rd St.
Standard status
Active
APN
L9NE3D 17 10A 0310
Size
4,189 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6924
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
central air conditioning
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Building materials
Brick, Frame
Listing Agency:
BHHS Paul Ford Easton · Prudential Real Estate
(610) 253-6123
Listed By:
Clay R. Mitman · License #RM046330A
(610) 390-6752
Added: Jul 30
Changed: Sep 12
Last Checked: Sep 12 at 7:06PM
MLS# 781823
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 4,189-square-foot mixed-use building contains three units across a brick and frame structure built in 1920. The first floor is configured as a professional medical office with reception and waiting areas, a nurse’s station, private physician’s office, four examination/operatories, a half bath, and central air conditioning. Two residential apartments occupy the upper floors: a two-bedroom unit with one full bath and a one-bedroom unit with one full bath. Both provide living areas, including a bay window in the second-floor residence.
The property is located at 42 N 3rd Street in Easton’s DD Downtown District. A separate parcel at 64 North Bank Street contributes seven off-street parking spaces, while an additional space sits beside the main building, creating eight spaces in total. The building has public water and public sewer service, natural-gas hot-water heat, and window-unit cooling.
The property is located at 42 N 3rd Street in Easton’s DD Downtown District. A separate parcel at 64 North Bank Street contributes seven off-street parking spaces, while an additional space sits beside the main building, creating eight spaces in total. The building has public water and public sewer service, natural-gas hot-water heat, and window-unit cooling.
Key Highlights
- 4,189‑square‑foot mixed‑use building with three units
- First‑floor medical office includes four examination/operatories and a private physician’s office
- Two‑bedroom and one‑bedroom apartments occupy the second and third floors
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
$43,450
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
7.04%
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%
$869,000
$869.0K
Cap Rate 7%
$620,714
$620.7K
Cap Rate 9%
$482,778
$482.8K
Market Conditions
NOI Build-Up for 4,189 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
$62.8K $15.00/SF
− Vacancy
−$4.9K −$1.17/SF
EGI
$57.9K $13.83/SF
− OpEx
−$14.5K −$3.46/SF
NOI
$43.5K $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%
$869,000
Cap Rate 7%
$620,714
Cap Rate 9%
$482,778
Alternative Uses
Best Use
Office B
$620.7K
$543.1K – $724.2K
NOI $43,450 @ 7.0% cap · market cap 7.04%
Second Best
Mixed Use
$605.9K
$530.2K – $706.9K
NOI $42,414 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$794.5K
$695.2K – $927.0K
NOI $55,617 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
2
Residential units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 18042, PA
44,026
Population
17,932
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
1,992
Density / Sq Mi
$75,806
Median Household Income
$40,015
Median Earnings
$1,245
Median Rent
$205,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit property combines a medical office with two residential apartments and off-street parking.
Where is this mixed-use property located?
The property is located at 42 N 3rd Street Easton, PA.
What is the asking price?
The asking price for this property is $617,000.
What are key features of this property?
This property features: 4,189‑square‑foot mixed‑use building with three units; First‑floor medical office includes four examination/operatories and a private physician’s office; Two‑bedroom and one‑bedroom apartments occupy the second and third floors
