622 Union Boulevard Allentown, PA 18109
MULTI_FAMILY - Allentown City, PA
- Added:
- Jul 1, 2026
- Days on Market:
- 11
- Last Refresh:
- Jul 11 at 2:06 am
Property Features for 622 Union Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Zoning
- B-3
- Parking
- 45
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 640778020334
- Size
- 18,219 SF
- Lot size
- 1.00 Acres
Taxes and HOA fees
- Tax Annual Amount
- 45094
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1987
- Floors in Building
- 2
- Number of units
- 6
- Building materials
- SteelSiding
Listing agent Carrie C. Ward License #AB069092 (610) 398-0411
Listing office Howard Hanna TheFrederickGroup 3500 Winchester Rd, Ste 201, Allentown, PA (610) 398-0411
Listing date Jul 1, 2026
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.
The property sits on approximately 1.0 acre and is zoned B-3 Highway Business. It is located at a signalized corner and includes 45 lined parking spaces for customer and tenant use.
For commercial buyers or operators, the building offers a multi-component layout spanning retail, medical, office, and warehouse uses, with several areas already in place. The medical suite’s independent access and systems can support tenant privacy and operational control, while the warehouse’s clear-span configuration and multiple loading options support a range of light industrial needs.
Key Highlights
- Completely updated, two‑story commercial building on 1 acre in B‑3 Highway Business zoning
- Over 90% leased with multi‑year NNN leases; ground‑floor retail and medical suite are both leased
- Back half includes 5,500 SF clear span 2‑story warehouse with two drive‑in doors and one loading dock, plus small office; leased
Local Financial Insights For Retail
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 | $338.9k | $18.60 |
| − Vacancy | −$18.3k | −$1.00 |
| EGI | $320.6k | $17.60 |
| − OpEx | −$96.2k | −$5.28 |
| NOI | $224.4k | $12.32 |
