Mixed-Use Corner Restaurant
500 504 W Gordon Street Allentown, PA 18102
For Sale
$530,000
COMMERCIAL - Allentown City, PA
Property Size4,220 SF
Lot Size0.06 Acres
Price / SF$125.59
Days on Market61
Property Features for 500 504 W Gordon Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R-MH
- Standard status
- Active
- APN
- 640712277558-1
- Size
- 4,220 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5886
Utilities
- Heating system
- Natural Gas
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1900
Listing Agency:
Century 21 Ramos Realty
(610) 866-4423
Listed By:
Anthony Ramos · License #AB068035
(610) 866-4423
Added: May 28
Changed: Jul 7
Last Checked: Jul 27 at 5:06AM
MLS# 777896
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 mixed-use corner property includes an operating pizzeria/restaurant on the first floor and two residential units on the upper level. The first apartment is a 1-bedroom unit arranged over two levels. The second apartment is a well-maintained 3-bedroom layout featuring hardwood floors and an updated tile bathroom. A large basement provides storage space that can serve both the business and the residential tenants. Separate utilities are provided for the commercial space and each residential unit, supporting straightforward day-to-day management and expense tracking.
The building is situated on a corner with strong street presence. Convenient access to major routes is noted, and the property is described as within walking distance to a hospital and local amenities.
For tenants, the restaurant space is designed to support food service operations on-site, while the on-building apartments offer an immediate residential component for flexible leasing. For buyers or operators, the combination of a functioning ground-floor restaurant and two separate living units, along with separately metered utilities and basement storage, creates a practical setup for managing multiple income streams from one asset.
The building is situated on a corner with strong street presence. Convenient access to major routes is noted, and the property is described as within walking distance to a hospital and local amenities.
For tenants, the restaurant space is designed to support food service operations on-site, while the on-building apartments offer an immediate residential component for flexible leasing. For buyers or operators, the combination of a functioning ground-floor restaurant and two separate living units, along with separately metered utilities and basement storage, creates a practical setup for managing multiple income streams from one asset.
Key Highlights
- Prime corner location with high visibility and convenient access.
- Established pizzeria/restaurant provides immediate income stream.
- Mixed‑use property offers diversified income from commercial and residential tenants.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.4k | $16.20 |
| − Vacancy | −$5.1k | −$1.22 |
| EGI | $63.2k | $14.99 |
| − OpEx | −$19.0k | −$4.50 |
| NOI | $44.3k | $10.49 |
4,220 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$829.0K
$725.4K – $967.2K
NOI $58,033 @ 7.0% cap · market cap 10.95%
Second Best
Multifamily LT 5
$632.4K
$553.3K – $737.8K
NOI $44,266 @ 7.0% cap · market cap 8.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Operating pizzeria plus two apartments with separate utilities and shared basement storage.
Where is this conventional restaurant 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: Prime corner location with high visibility and convenient access.; Established pizzeria/restaurant provides immediate income stream.; Mixed‑use property offers diversified income from commercial and residential tenants.
