Renovated Office
For Sale
$749,900
1007 Union Boulevard, Allentown, PA 18109
CommercialSale, Allentown City, PA
Property Size4,228 SF
Lot Size0.20 Acres
Price / SF$177.37
Days on Market299
Property Features for 1007 Union Boulevard
General Information
Property type
Commercial Sale
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
(954) 895-9439
Added: Jan 6
Changed: Oct 15
Last Checked: Nov 1 at 3:06AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,228-square-foot office building was fully renovated 5 years ago and is constructed with masonry materials. The property includes central air conditioning, on-street parking, public water, and public sewer. Originally built in 1959, it is positioned for continued office use under the existing occupancy arrangement.
The district court tenant has completed an initial 5-year term and signed another long-term lease. Lease structure is gross, with yearly increases and a 5-year option. The B-3 Highway Business zoning designation supports a range of business uses and potential redevelopment after the remaining lease term. The building fronts Union Boulevard in Allentown City and is located near the planned 29-acre Waterfront development along the Lehigh River, which is expected to include Class A offices, apartments, restaurants, and green space.
The district court tenant has completed an initial 5-year term and signed another long-term lease. Lease structure is gross, with yearly increases and a 5-year option. The B-3 Highway Business zoning designation supports a range of business uses and potential redevelopment after the remaining lease term. The building fronts Union Boulevard in Allentown City and is located near the planned 29-acre Waterfront development along the Lehigh River, which is expected to include Class A offices, apartments, restaurants, and green space.
Key Highlights
- 4,228 SF office building
- District court occupancy with another long‑term lease signed
- Gross lease with yearly increases and a 5‑year option
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,953
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,060
$459.1K
Cap Rate 7%
$327,900
$327.9K
Cap Rate 9%
$255,033
$255.0K
Market Conditions
NOI Build-Up for 4,228 SF
Gross rent
$33.0K $7.80/SF
− Vacancy
−$2.4K −$0.56/SF
EGI
$30.6K $7.24/SF
− OpEx
−$7.7K −$1.81/SF
NOI
$23.0K $5.43/SF
Area
Allentown, PA
Vacancy
7.20%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,060
Cap Rate 7%
$327,900
Cap Rate 9%
$255,033
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
922
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Currently occupied by a district court under a gross lease with annual increases and extension options.
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: 4,228 SF office building; District court occupancy with another long‑term lease signed; Gross lease with yearly increases and a 5‑year option
