Mixed-Use Corner
For Sale
$530,000
500 -504 W Gordon Street, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size4,220 SF
Lot Size0.06 Acres
Price / SF$125.59
Days on Market86
Property Features for 500 -504 W Gordon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-MH
Parking
1
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
4th St to West on Gordon St.
Standard status
Active
APN
640712277558-1
Size
4,220 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5886
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
basement storage
Building Details
Year built
1900
Number of units
5
Listing Agency:
Century 21 Ramos Realty · Century 21 Real Estate
(610) 866-4423
Listed By:
Anthony Ramos · License #AB068035
(484) 695-4887
Added: Jun 17
Changed: Aug 19
Last Checked: Sep 10 at 10:06AM
MLS# 779164
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 4,220-square-foot mixed-use property combines an operating pizzeria/restaurant on the first floor with two residential apartments. The residential layout includes a two-level one-bedroom unit and a three-bedroom unit with hardwood flooring, an updated tile bathroom, and generous living space. A large basement adds storage for the commercial operation and residents.
Separate utilities serve the restaurant and each apartment, supporting distinct expense tracking for the three components. Built in 1900, the property has natural gas heat, window-unit cooling, public water, and public sewer. On-street parking is available. The corner setting provides street exposure, with access to major routes, a hospital within walking distance, and local amenities nearby.
Separate utilities serve the restaurant and each apartment, supporting distinct expense tracking for the three components. Built in 1900, the property has natural gas heat, window-unit cooling, public water, and public sewer. On-street parking is available. The corner setting provides street exposure, with access to major routes, a hospital within walking distance, and local amenities nearby.
Key Highlights
- 4,220‑square‑foot mixed‑use building with operating first‑floor pizzeria/restaurant
- Two apartments: one two‑level 1‑bedroom unit and one 3‑bedroom unit
- Separate utilities for the restaurant and each residential unit
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
$41,208
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
7.78%
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%
$824,160
$824.2K
Cap Rate 7%
$588,686
$588.7K
Cap Rate 9%
$457,867
$457.9K
Market Conditions
NOI Build-Up for 4,220 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
$70.9K $16.80/SF
− Vacancy
−$5.0K −$1.18/SF
EGI
$65.9K $15.62/SF
− OpEx
−$24.7K −$5.86/SF
NOI
$41.2K $9.76/SF
Area
Allentown, PA
Vacancy
7.00%
Lease Rate
$16.80 /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%
$824,160
Cap Rate 7%
$588,686
Cap Rate 9%
$457,867
Alternative Uses
Best Use
Specialty Retail
$829.0K
$725.4K – $967.2K
NOI $58,033 @ 7.0% cap · market cap 10.95%
Second Best
Mixed Use
$588.7K
$515.1K – $686.8K
NOI $41,208 @ 7.0% cap · market cap 7.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,424
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Operating pizzeria with two apartments, separate utilities, and basement storage in a walkable urban setting.
Where is this mixed-use property located?
The property is located at 500 -504 W Gordon Street Allentown, PA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 4,220‑square‑foot mixed‑use building with operating first‑floor pizzeria/restaurant; Two apartments: one two‑level 1‑bedroom unit and one 3‑bedroom unit; Separate utilities for the restaurant and each residential unit
