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    507 Delaware Avenue Portland, PA 18351

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    For Sale
    $599,000

    MULTI_FAMILY - Portland, PA

    Property size:
    5,500 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $108/SF
    Added:
    Apr 30, 2026
    Days on Market:
    3
    Last Refresh:
    May 2 at 3:06 pm

    Property Features for 507 Delaware Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Basement, Bathroom 2, Bathroom 5, Bedroom 5, Bedroom 2
    Standard status
    Active
    APN
    B11SE3C6-14
    Size
    5,500 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4004

    Building Details

    Year built
    1900
    Floors in Building
    3
    Number of units
    5

    We can help!

    Listing Contact
    Faith M Sarisky

    Listing agent Faith M Sarisky

    Listing office Realty Solutions of PA 1597 S Delaware Dr, Mount Bethel, PA

    Listing date Apr 30, 2026

    MLS# PM-140888 Listing URL

    Copyright © 2026 Pocono Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Investment Property in Portland

    This turnkey investment property is located in historic Portland, Pennsylvania. The property offers views of the Delaware River and walking bridge from the second floor. The building features five units, including three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront currently occupied by a chocolate shop. All units are currently rented with long-term tenants. Recent upgrades include new electrical panel boxes in the three second-floor units, new flooring in the hall, new electric service at the meter box, sewer pipes in the basement converted to PVC, upgraded lighting in the 2nd-floor hallway, installed emergency lighting and illuminated exit signs, installed missing GFCI outlets, and installed handrails on the front steps and guard rails on the rear and basement steps. Unit 2A was fully remodeled in 2022, and Unit 2C was also remodeled. The property provides passive income and potential for growth. The property has been approved for a facade improvement grant which may be transferred to the new owner. The property size is 5,500 square feet and the lot size is 0.08 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alexandra & Nicolay Chocolates Specialty Food Shop

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Gym & Fitness Center Auto Repair Shop Department Store Auto Parts Store Grocery & Convenience Store Daycare Center HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Northampton
    State
    Pennsylvania
    Longitude
    -75.097148
    Latitude
    40.923008

    FAQs

    What type of property is this?
    Mixed-use property - Income-producing mixed-use property with five units and commercial storefront.
    Where is this mixed-use property located?
    The property is located at 507 Delaware Avenue Portland, PA.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Turnkey investment property with 5 units all currently rented, providing immediate income.; Breathtaking Delaware River views from the second floor.; Lucrative passive income with potential for growth.
    (610) 452-2722
    We can help!
    Listing Contact
    Faith M Sarisky
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    507 Delaware Avenue, Portland, PA 18351

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