Historic Restaurant with Commercial
For Sale
$1,287,500
5881 Sullivan Trail, Pen Argyl, PA 18064
CommercialSale, PEN ARGYL, PA
Property Size11,905 SF
Lot Size0.57 Acres
Price / SF$108.15
Days on Market220
Property Features for 5881 Sullivan Trail
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
26VC
Parking
35
Elementary school district
Pen Argyl
Middle school district
Pen Argyl
High school district
Pen Argyl
Directions
From Route 33 at the Belfast Exit head East to R on Belfast Rd to property on L on the corner of Belfast and Sullivan trail
Subdivision
Plainfield
Standard status
Active
APN
H8NW3 1 12 0626
Size
11,905 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
8836
Utilities
Sewer type
Septic Tank
Heating system
Oil
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1901
Building materials
Brick, VinylSiding
Roof type
Composition
Listing Agency:
Home Team Real Estate
(610) 419-8888
Listed By:
Jason R. Kocsis
(610) 216-9488
Added: Feb 2
Changed: Sep 2
Last Checked: Sep 10 at 7:06AM
MLS# 771297
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.
Built in 1901, this restaurant property combines historic character with a fully equipped commercial kitchen and multiple dining areas. The 11,905-square-foot building sits on 0.568 acres and includes two dining rooms, porch seating, an original hand-carved bar, and capacity for over 100 guests. Kitchen equipment includes two pizza ovens, two prep stations, walk-in freezer and refrigerator, commercial dishwasher, 14-burner gas range/oven, fryer, and salad station. The sale includes the real estate, operating restaurant business, liquor license, equipment, and furnishings.
The property is located at 5881 Sullivan Trail in Pen Argyl, at a corner near Route 33. The second and third floors, formerly hotel rooms and currently used by the owner, may be considered for conversion to apartments, a bed and breakfast, or Airbnb use subject to zoning approval. The property has public water and a septic tank.
The property is located at 5881 Sullivan Trail in Pen Argyl, at a corner near Route 33. The second and third floors, formerly hotel rooms and currently used by the owner, may be considered for conversion to apartments, a bed and breakfast, or Airbnb use subject to zoning approval. The property has public water and a septic tank.
Key Highlights
- 11,905‑square‑foot restaurant building on 0.568 acres
- Restaurant business, liquor license, equipment, furnishings, and real estate included
- Seating for over 100 guests across two dining rooms and porch areas
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
$88,514
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
6.87%
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%
$1,770,280
$1.8M
Cap Rate 7%
$1,264,486
$1.3M
Cap Rate 9%
$983,489
$983.5K
Market Conditions
NOI Build-Up for 11,905 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
$137.1K $11.52/SF
− Vacancy
−$10.7K −$0.90/SF
EGI
$126.4K $10.62/SF
− OpEx
−$37.9K −$3.19/SF
NOI
$88.5K $7.44/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
30.00%
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%
$1,770,280
Cap Rate 7%
$1,264,486
Cap Rate 9%
$983,489
Alternative Uses
Best Use
Specialty Retail
$1.76M
$1.54M – $2.06M
NOI $123,485 @ 7.0% cap · market cap 9.59%
Second Best
Industrial
$1.26M
$1.11M – $1.48M
NOI $88,514 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$2.26M
$1.98M – $2.63M
NOI $158,060 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 18064, PA
27,696
Population
10,659
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
94%
High-School Grad
38.5 sq mi
ZIP Area
719
Density / Sq Mi
$102,857
Median Household Income
$58,471
Median Earnings
$1,235
Median Rent
$354,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes the liquor license, operating business, equipment, furnishings, and restaurant real estate.
Where is this conventional restaurant located?
The property is located at 5881 Sullivan Trail Pen Argyl, PA.
What is the asking price?
The asking price for this property is $1,287,500.
What are key features of this property?
This property features: 11,905‑square‑foot restaurant building on 0.568 acres; Restaurant business, liquor license, equipment, furnishings, and real estate included; Seating for over 100 guests across two dining rooms and porch areas
