Mixed-Use Building with
New
For Sale
$275,000
1044 W Liberty Street, Allentown, PA 18102
MULTI_FAMILY - Allentown City, PA
Property Size2,304 SF
Lot Size0.03 Acres
Price / SF$119.36
Days on Market5
Property Features for 1044 W Liberty Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-Mh
Bedrooms
2
Bathrooms
3
Full bathrooms
1
Half bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2
Parking
3
Parking features
Off Street, Garage, On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Tilghman St. to south on 11th St to property on left
Standard status
Active
APN
549772905267 1
Size
2,304 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2425
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Dave Capece
(610) 435-5555
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 12 at 12:06AM
MLS# 782582
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 2,304-square-foot brick mixed-use property includes an 800-square-foot first-floor shop with a powder room, three separate garages, and a two-bedroom apartment on the second floor. The building was constructed in 1920 and uses electric baseboard heat.
The 0.034-acre property is located on W Liberty Street in Allentown City, within Lehigh County. R-Mh zoning, public water, and public sewer are documented. Parking includes garage, off-street, and on-street options. The apartment leases are month-to-month, providing a flexible occupancy arrangement for the existing residential component.
The 0.034-acre property is located on W Liberty Street in Allentown City, within Lehigh County. R-Mh zoning, public water, and public sewer are documented. Parking includes garage, off-street, and on-street options. The apartment leases are month-to-month, providing a flexible occupancy arrangement for the existing residential component.
Key Highlights
- 2,304 SF mixed‑use building on a 0.034‑acre lot
- 800 SF first‑floor shop with powder room
- Three separate garages included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,499
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$449,980
$450.0K
Cap Rate 7%
$321,414
$321.4K
Cap Rate 9%
$249,989
$250.0K
Market Conditions
NOI Build-Up for 2,304 SF
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.
Gross rent
$38.7K $16.80/SF
− Vacancy
−$2.7K −$1.18/SF
EGI
$36.0K $15.62/SF
− OpEx
−$13.5K −$5.86/SF
NOI
$22.5K $9.76/SF
Area
Allentown, PA
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$449,980
Cap Rate 7%
$321,414
Cap Rate 9%
$249,989
Alternative Uses
Best Use
Retail
$405.4K
$354.7K – $473.0K
NOI $28,378 @ 7.0% cap · market cap 10.32%
Second Best
Mixed Use
$321.4K
$281.2K – $375.0K
NOI $22,499 @ 7.0% cap · market cap 8.18%
Theoretical Best
Specialty Retail
$452.6K
$396.1K – $528.1K
NOI $31,685 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,610
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines a ground-floor shop, three garages, and an upper-level apartment.
Where is this mixed-use property located?
The property is located at 1044 W Liberty Street Allentown, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,304 SF mixed‑use building on a 0.034‑acre lot; 800 SF first‑floor shop with powder room; Three separate garages included
