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    Iconic Easton Building with High Ceilings Title is generated by Realmo AI

    1 S 3rd Street, Easton, PA 18017

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    CommercialLease - Easton, PA

    Property size:
    74,039 SF
    Price / SF:
    $0.00/SF
    Added:
    May 12, 2026
    Days on Market:
    1
    Last Refresh:
    May 12 at 10:06 pm

    Property Features for 1 S 3rd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    74,039 SF

    Utilities

    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Ryan Dietrick
    Ryan Dietrick

    Listing agent Ryan Dietrick

    Listing office BHHS Fox & Roach Allentown Sales Office 6081 Hamilton Blvd, Suite 102, PA

    Listing date May 12, 2026

    MLS# 776940 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, 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

    • Prime downtown Easton location at Center Square and S. 3rd Street with a Walk Score of 90, steps from restaurants, Crayola Experience, and the waterfront.
    • 5,300 SF first‑floor suite with dramatic two‑story ceilings (up to 20') and floor‑to‑ceiling windows providing abundant natural light.
    • Fully built‑out and move‑in ready with an open floor plan, conference room, exposed ceilings, and accent lighting.
    • Suitable for various uses: media, creative, professional services, or experiential retail/tourism.
    • Central A/C and heat, and Wi‑Fi ready.
    • Located in the historic Alpha Building, an iconic and visible address.

    Overview

    Located at the corner of Center Square and South 3rd Street in downtown Easton, this 5,300 SF first-floor suite is situated within the historic Alpha Building. The space features dramatic two-story ceilings, reaching up to 20 feet, and floor-to-ceiling windows that provide natural light. The suite is fully built out and in excellent condition, offering an open-plan layout, a conference room, exposed ceilings, accent lighting, and central air and heating. Finished ceiling heights range from 8' to 20'. The space is Wi-Fi ready. It is suited for media, creative, professional services, or experiential retail or tourism-oriented users. Furniture may be available. The building has a Walk Score of 90 and is located steps from Easton's restaurant scene, the Crayola Experience, the State Theatre, and the Delaware River waterfront.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    USA Architects, Planners ... Architect Jacobs Robert H Law Firm Easton Health Bureau City Government Office Alpha Building Corporate Office Daisy Chuang, EXP ... Real Estate Agency

    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
    Easton
    County
    Northampton
    State
    Pennsylvania
    Longitude
    -75.209356
    Latitude
    40.690608

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    FAQs

    What type of property is this?
    Creative space - Move-in ready 5,300 SF suite in downtown Easton.
    Where is this creative space located?
    The property is located at 1 S 3rd Street Easton, PA.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime downtown Easton location at Center Square and S. 3rd Street with a Walk Score of 90, steps from restaurants, Crayola Experience, and the waterfront.; **5,300 SF first‑floor suite with dramatic two‑story ceilings (up to 20') and floor‑to‑ceiling windows providing abundant natural light.**; **Fully built‑out and move‑in ready with an open floor plan, conference room, exposed ceilings, and accent lighting.**
    (732) 778-7887
    We can help!
    Listing Contact
    Ryan Dietrick
    Ryan Dietrick
    Real Estate License ID: RS302428
    Learn More
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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.

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