Brick School Building with
For Sale
$1,800,000
5093 Vera Cruz Road, Emmaus, PA 18049
COMMERCIAL - Emmaus Boro, PA
Property Size11,148 SF
Lot Size2.52 Acres
Price / SF$161.46
Days on Market81
Property Features for 5093 Vera Cruz Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-SR
Parking
65
Parking features
Off Street, Parking Lot
Interior features
Storage
Elementary school district
East Penn
Middle school district
East Penn
High school district
East Penn
Directions
From Chestnut St go South on 10th St, Right at first stop sign, Keep left at Y and building will be on your left in 1 mile
Subdivision
Upper Milford
Standard status
Active
APN
549346921149-1
Size
11,148 SF
Lot size
2.52 Acres
Taxes and HOA fees
Tax Annual Amount
9026
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Ductless, Central Air
Water source
Well
Building Details
Year built
1927
Number of units
4
Building materials
Brick
Roof type
Flat
Additional Structures
Storage
Listing Agency:
Rudy Amelio Real Estate · ERA Real Estate
(610) 437-5501
Listed By:
Geoff Spitko
(610) 657-5776
Added: Jun 9
Changed: Aug 4
Last Checked: Aug 28 at 10:06PM
MLS# 778691
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.
Brick school building constructed in 1927 with a flat roof and brick exterior. The current layout includes a residence in the front used as an Airbnb, featuring LR, kitchen, DR, two bedrooms, walk-in closet, two bathrooms with heated floor, laundry, and two saunas, plus various other rooms in overall great condition. The middle portion contains three classrooms, a principal’s office, a public bathroom, and a handicap bathroom. The back portion of the school includes the cafeteria’s kitchen plus multi-use space that can function as a cafeteria, gymnasium, auditorium, banquet hall, with a stage and backstage room. The basement includes the library, utility room, and storage with multiple exterior egresses. Entire first floor is handicap accessible, and the property includes storage.
The building sits on 2.52 acres with a large parking lot and a great view. Utilities include well water and public sewer, and the property has natural gas heating with ductless and central air cooling.
The building can be used as one large facility or subdivided into at least four sections, subject to township approval.
The building sits on 2.52 acres with a large parking lot and a great view. Utilities include well water and public sewer, and the property has natural gas heating with ductless and central air cooling.
The building can be used as one large facility or subdivided into at least four sections, subject to township approval.
Key Highlights
- Brick school building built in 1927
- 2.52 acres with a large parking lot and great view
- Front residence used as an Airbnb; includes two bedrooms and two heated‑floor bathrooms
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
$65,124
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
3.62%
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%
$1,302,480
$1.3M
Cap Rate 7%
$930,343
$930.3K
Cap Rate 9%
$723,600
$723.6K
Market Conditions
NOI Build-Up for 11,148 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
$128.4K $11.52/SF
− Vacancy
−$10.0K −$0.90/SF
EGI
$118.4K $10.62/SF
− OpEx
−$53.3K −$4.78/SF
NOI
$65.1K $5.84/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
45.00%
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%
$1,302,480
Cap Rate 7%
$930,343
Cap Rate 9%
$723,600
Alternative Uses
Best Use
Apartment 5plus
$930.3K
$814.1K – $1.09M
NOI $65,124 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.64M
$1.43M – $1.91M
NOI $114,755 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 18049, PA
18,440
Population
7,659
Households
2.4
Avg Household Size
43
Median Age
38%
College-Educated
94%
High-School Grad
15.0 sq mi
ZIP Area
1,229
Density / Sq Mi
$93,924
Median Household Income
$44,310
Median Earnings
$1,316
Median Rent
$282,500
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
School - Brick school building with a large parking lot, flat roof, and public sewer on 2.52 acres.
Where is this school located?
The property is located at 5093 Vera Cruz Road Emmaus, PA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Brick school building built in 1927; 2.52 acres with a large parking lot and great view; Front residence used as an Airbnb; includes two bedrooms and two heated‑floor bathrooms
