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    Warehouse and Office Flex Space Title is generated by Realmo AI

    921 W Washington Street, Allentown, PA 18102

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    For Lease
    $12 SF/Yr $6,800/Mo (calc)

    COMMERCIAL - Allentown City, PA

    Property size:
    6,800 SF
    Lot size:
    0.17 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 4:06 pm

    Property Features for 921 W Washington Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    549784104398-1
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6596

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Floors in Building
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Benjamin Diaz

    Listing agent Benjamin Diaz

    Listing office Keller Williams Allentown 1605 N.CedarCrestBlvd, Ste309, Allentown, PA

    Listing date Jun 2, 2026

    MLS# 778303

    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.

    HighLights

    • 6,800 SF commercial space for lease with a first‑floor warehouse layout and three private offices on the upper level
    • Includes one drive‑in bay door for convenient vehicle storage, inventory, equipment, or operational use
    • Offices are located on the second floor with stairs only access
    • Brick construction with natural gas heating
    • Parking available with a garage, plus public water and public sewer

    Overview

    This 6,800 SF commercial space offers a practical flex-style setup for users needing both storage and administrative space. The first floor provides a functional warehouse layout, while the second level contains three spacious private offices. Access between levels is by stairs only, and the offices are located on the upper level. A single drive-in bay door supports vehicle storage, inventory handling, equipment staging, or other operational needs.

    Located at 921 W Washington Street in Allentown, PA 18102, the property has been used previously by a property management company for vehicle and supply storage. The existing configuration supports businesses looking for one location to combine warehousing and office workflow.

    The space is well-suited for contractors, service-oriented businesses, and other commercial users that benefit from having storage on the first floor and dedicated office rooms above. If you need an operation that can keep day-to-day work and customer-facing or administrative functions under one roof, this layout provides the separation and access necessary to run both parts efficiently, with the warehouse area serving as the operational base and the offices supporting coordination and management.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • Thyme 2 Dine — 1519 Greenleaf St, Allentown, PA 18102
    • Fantasy event — Allentown, PA 18101
    • Culinary Experts — 1825 w chew st, allentown, pa 18104
    • Catering By Toni Bodony — Allentown, PA 18102
    • Vince's Famous Cheesesteaks — 806 Hamilton St, Allentown, PA 18101

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.481821
    Latitude
    40.612398

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    FAQs

    What type of property is this?
    Flex space - Lease a two-level layout with warehouse area below and three private offices upstairs, plus a drive-in bay door.
    Where is this flex space located?
    The property is located at 921 W Washington Street Allentown, PA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 6,800 SF commercial space for lease with a first‑floor warehouse layout and three private offices on the upper level; Includes one drive‑in bay door for convenient vehicle storage, inventory, equipment, or operational use; Offices are located on the second floor with stairs only access
    (610) 435-1800
    We can help!
    Listing Contact
    Benjamin Diaz
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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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