Updated Medical Office
For Sale
$349,900
449 451 W Linden Street, Allentown, PA 18102
CommercialSale, Allentown City, PA
Property Size3,108 SF
Price / SF$112.58
Days on Market81
Property Features for 449 451 W Linden Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-H high residential
Parking
6
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
4th and Linden, West onto Linden. Property is on the right
Subdivision
Allentown-Central
Standard status
Active
APN
640721046736001
Size
3,108 SF
Taxes and HOA fees
Tax Annual Amount
5795
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Central Air
Water source
Public
Building Details
Year built
1875
Flooring type
Wood
Building materials
Brick, Masonry
Roof type
Flat
Listing Agency:
CENTURY 21 Keim Realtors · Century 21 Real Estate
(610) 395-0393
Listed By:
Loren K. Keim Jr. · License #RB-045762-L
(877) 208-4158
Added: Jun 10
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
MLS# 778372
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 3,108-square-foot medical office property occupies a two-story brick and masonry building constructed in 1875. The interior includes a reception desk, waiting area, conference or treatment room, open work areas, private offices, and restrooms across both levels. Hardwood flooring, fresh paint, central air conditioning, and a flexible arrangement support medical, wellness, and professional office operations. The property is zoned R-H high residential and served by public water and public sewer.
Located at 449 451 W Linden Street in Allentown City, the building is one block from the Lehigh County Courthouse and Lehigh County Jail, with the Baum School of Art directly across the street. A private rear parking lot provides 5-6 dedicated spaces, while on-street parking is also available.
Located at 449 451 W Linden Street in Allentown City, the building is one block from the Lehigh County Courthouse and Lehigh County Jail, with the Baum School of Art directly across the street. A private rear parking lot provides 5-6 dedicated spaces, while on-street parking is also available.
Key Highlights
- 3,108 square feet across two stories
- Five private offices or treatment rooms on the second floor
- Private rear parking lot with 5‑6 dedicated spaces
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
$27,200
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
7.77%
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%
$544,000
$544.0K
Cap Rate 7%
$388,571
$388.6K
Cap Rate 9%
$302,222
$302.2K
Market Conditions
NOI Build-Up for 3,108 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
$48.5K $15.60/SF
− Vacancy
−$3.2K −$1.01/SF
EGI
$45.3K $14.59/SF
− OpEx
−$18.1K −$5.83/SF
NOI
$27.2K $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%
$544,000
Cap Rate 7%
$388,571
Cap Rate 9%
$302,222
Alternative Uses
Best Use
Healthcare Medical
$388.6K
$340.0K – $453.3K
NOI $27,200 @ 7.0% cap · market cap 7.77%
Second Best
Office B
$241.0K
$210.9K – $281.2K
NOI $16,873 @ 7.0% cap · market cap 4.82%
Theoretical Best
Specialty Retail
$610.6K
$534.3K – $712.4K
NOI $42,741 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,315
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
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 - Two-story layout combines reception, private treatment rooms, open work areas, and central air conditioning.
Where is this medical office space located?
The property is located at 449 451 W Linden Street Allentown, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 3,108 square feet across two stories; Five private offices or treatment rooms on the second floor; Private rear parking lot with 5‑6 dedicated spaces
