Renovated Office Building with Long-Term
For Sale
$749,900
1007 Union Boulevard, Allentown, PA 18109
SINGLE_FAMILY - Allentown City, PA
Property Size4,228 SF
Lot Size0.20 Acres
Price / SF$177.37
Days on Market206
Property Features for 1007 Union Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
B-3
Parking features
On Street
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
US-22 E to Hanover Township. Take the Airport Rd S exit. Follow Airport Rd to Union Blvd. Turn left onto Union Blvd. Destination will be on the left
Subdivision
Allentown-East
Standard status
Active
APN
640798278583 1
Size
4,228 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
13057
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Building materials
Masonry
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Ayon A. Codner · License #RS324477
(610) 435-1800
Added: Jan 6
Changed: Jun 15
Last Checked: Jul 31 at 7:06PM
MLS# 770061
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.
This property is a +/- 4,228-square-foot office building that was fully renovated approximately five years ago and is maintained by the landlord. The building is currently occupied by the district court under an existing gross lease structure that includes yearly increases. The original term had been completed, and the district court has signed another long-term lease, with no plans to move, providing ongoing occupancy under a renewed agreement.
The building is located at 1007 Union Boulevard in Allentown City, Pennsylvania, on busy Union Blvd. It is situated near an upcoming waterfront development described as a 29-acre project on the Lehigh River’s western bank, featuring Class A office buildings, upscale apartments, restaurants, and green spaces.
From a tenant, owner-user, or investor perspective, the asset offers a stabilized, single-tenant tenancy with a long-term district court lease in place. The property is zoned B-3 Highway Business, which supports a range of uses and redevelopment possibilities once the remaining term expires. The seller is marketing the opportunity to 1031 exchange buyers and cash buyers; please call for additional lease and offering details.
The building is located at 1007 Union Boulevard in Allentown City, Pennsylvania, on busy Union Blvd. It is situated near an upcoming waterfront development described as a 29-acre project on the Lehigh River’s western bank, featuring Class A office buildings, upscale apartments, restaurants, and green spaces.
From a tenant, owner-user, or investor perspective, the asset offers a stabilized, single-tenant tenancy with a long-term district court lease in place. The property is zoned B-3 Highway Business, which supports a range of uses and redevelopment possibilities once the remaining term expires. The seller is marketing the opportunity to 1031 exchange buyers and cash buyers; please call for additional lease and offering details.
Key Highlights
- Long‑term lease with established tenant (district court) and yearly increases provides a stable income stream.
- Fully renovated building (5 years ago) is meticulously maintained.
- Located minutes from the upcoming $425 million Waterfront development.
Financial Insights For Office B
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 | $33.0k | $7.80 |
| − Vacancy | −$2.4k | −$0.56 |
| EGI | $30.6k | $7.24 |
| − OpEx | −$7.7k | −$1.81 |
| NOI | $23.0k | $5.43 |
4,228 SF · lease $7.80/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.6K
NOI $22,953 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$830.6K
$726.8K – $969.1K
NOI $58,143 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
Explore this area
Business Placement
Demographics for 18109, PA
18,915
Population
7,395
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
80%
High-School Grad
8.2 sq mi
ZIP Area
2,307
Density / Sq Mi
$55,437
Median Household Income
$36,632
Median Earnings
$1,239
Median Rent
$180,200
Median Home Value
Market
Properties on Market for Office buildings in Lehigh County
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully renovated office building leased to district court on a gross lease with scheduled yearly increases.
Where is this office building located?
The property is located at 1007 Union Boulevard Allentown, PA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Long‑term lease with established tenant (district court) and yearly increases provides a stable income stream.; Fully renovated building (5 years ago) is meticulously maintained.; Located minutes from the upcoming $425 million Waterfront development.
