Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    940 N New Street unit 123 Bethlehem, PA 18018

    View on Map
    For Lease
    $1,000 /Mo

    COMMERCIAL - Bethlehem City, PA

    Type:Office
    Added:
    Jan 17, 2026
    Days on Market:
    76
    Last Refresh:
    Apr 3 at 3:06 pm

    Property Features for 940 N New Street unit 123

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Ellen V. Benner

    Listing agent Ellen V. Benner

    Listing office Boutique One Properties LLC 2005 City Line Rd., #106, Bethlehem, PA

    Listing date Jan 17, 2026

    MLS# 770684

    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.

    Overview

    Downtown Bethlehem Commercial Space Available

    Located in the heart of Downtown Bethlehem, the property at 940 N. New Street is suitable for professional and medical uses. The building offers convenient access with no stairs and all suites are located on a single floor. A large parking lot is available in front of the building for tenants, clients, and patients.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Helmold Marie E ... Physician Lianne Mcginn Bunn Physician David B. Vasily, ... Physician Advanced Foot Care ... Medical Clinic Kohler Alena Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethlehem
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.377803
    Latitude
    40.627311

    Nearby Similar for Lease

    • Contact for pricing

      Unique Commercial Property in Bethlehem

      Versatile commercial property with development potential in North Bethlehem.
      431 W Union Boulevard, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Updated Office Space For Rent

      Professional office space available in updated building, utilities included.
      1502 Center Street unit: 102, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Bethlehem City Commercial Space For Rent

      High-visibility commercial space on Stefko Boulevard, ready for customization.
      2115 Stefko Boulevard unit: A, Bethlehem City, PA 18017
      View Details
    • Contact for pricing

      Adaptable Commercial Space on 4th

      Flexible commercial space near Lehigh University, ready for transformation.
      429 E 4th Street, Bethlehem City, PA 18015
      View Details
    • Contact for pricing

      Bethlehem City Office Space

      Affordable office space in desirable corporate park with ample parking.
      31 Commerce unit: 500, Bethlehem City, PA 18017
      View Details
    • Contact for pricing

      Bethlehem City Office/Retail Space

      Prime corner location with high visibility and convenient access.
      602 W Broad Street, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Highland Avenue Office Suite

      9,445 SF office suite designed for operational efficiency.
      95 Highland Avenue unit: 208, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Bethlehem Twp Office Space Available

      Renovated office space in prime Bethlehem Township location for rent.
      3348 Easton Avenue unit: 301, Bethlehem Twp, PA 18020
      View Details
    • Contact for pricing

      Bethlehem Office Space For Rent

      Exceptional corner suite with customization potential in Bethlehem, Pennsylvania.
      95 Highland Avenue unit: 205, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Bethlehem Office Space For Rent

      High-end office space with natural light and flexible layout.
      95 Highland Avenue unit: 205-B, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Bethlehem Office Suite For Rent

      Move-in ready office suite in Bethlehem, PA, perfect for small firms.
      95 Highland Avenue unit: 210, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Premium Office Suite in Bethlehem

      Adaptable 4,000 sq ft commercial office suite for lease.
      95 Highland Avenue unit: 205-C, Bethlehem, PA 18017
      View Details

    FAQs

    What type of property is this?
    Specialty property - Professional and medical space in the heart of Bethlehem City.
    Where is this specialty property located?
    The property is located at 940 N New Street unit 123 Bethlehem, PA.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: Prime Downtown Bethlehem location ideal for professional or medical practices.; Single‑floor layout with no stairs for easy accessibility.; Large on‑site parking lot for tenants and clients.
    (610) 867-3900
    We can help!
    Listing Contact
    Ellen V. Benner
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!