Mixed-Use Storefront with Two
For Sale
$449,990
Pending
1102 Hanover Ave, Allentown, PA 18109
Ground-floor commercial space is paired with two apartments in one building.
Property Size2,876 SF
Days on Market65
Property Features for 1102 Hanover Ave
General Information
Standard status
Pending
Size
2,876 SF
Taxes and HOA fees
Annual Taxes
$6,129
Listing Agency:
HowardHanna TheFrederickGroup
(610) 417-2198
Listed By:
Matt Sprung · License #AB068265
(610) 417-2198
Source:
Exprealty
Added: Jun 18
Changed: Aug 20
Last Checked: Aug 20 at 12:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HowardHanna TheFrederickGroup
Investment Insights
Based on property information with market context.
Located at 1102 Hanover Avenue in Allentown’s East Side, this 2,876-square-foot mixed-use property combines a retail storefront with two apartments. The configuration brings commercial and residential components together within a single building, with storefront exposure along Hanover Avenue.
The property is near Coca-Cola Park and provides access to the Airport Road retail corridor. Nearby development activity includes the planned Northridge community on the former 195-acre Allentown State Hospital site, where plans call for more than 600 townhomes, offices, retail space, recreational trails, a micro-hospital, and a new K-8 Allentown School District complex. Another proposal in the surrounding area includes 180 apartments.
The property is near Coca-Cola Park and provides access to the Airport Road retail corridor. Nearby development activity includes the planned Northridge community on the former 195-acre Allentown State Hospital site, where plans call for more than 600 townhomes, offices, retail space, recreational trails, a micro-hospital, and a new K-8 Allentown School District complex. Another proposal in the surrounding area includes 180 apartments.
Key Highlights
- 2,876‑square‑foot mixed‑use building with a retail storefront and two apartments
- Storefront exposure along Hanover Avenue
- Located in Allentown’s East Side
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
$35,423
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
7.87%
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%
$708,460
$708.5K
Cap Rate 7%
$506,043
$506.0K
Cap Rate 9%
$393,589
$393.6K
Market Conditions
NOI Build-Up for 2,876 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
$53.5K $18.60/SF
− Vacancy
−$2.9K −$1.00/SF
EGI
$50.6K $17.60/SF
− OpEx
−$15.2K −$5.28/SF
NOI
$35.4K $12.32/SF
Area
Allentown, PA
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$708,460
Cap Rate 7%
$506,043
Cap Rate 9%
$393,589
Alternative Uses
Best Use
Retail
$506.0K
$442.8K – $590.4K
NOI $35,423 @ 7.0% cap · market cap 7.87%
Second Best
Mixed Use
$401.2K
$351.1K – $468.1K
NOI $28,084 @ 7.0% cap · market cap 6.24%
Theoretical Best
Specialty Retail
$565.0K
$494.4K – $659.2K
NOI $39,551 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
946
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
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 - Ground-floor commercial space is paired with two apartments in one building.
Where is this mixed-use property located?
The property is located at 1102 Hanover Ave Allentown, PA.
What is the asking price?
The asking price for this property is $449,990.
What are key features of this property?
This property features: 2,876‑square‑foot mixed‑use building with a retail storefront and two apartments; Storefront exposure along Hanover Avenue; Located in Allentown’s East Side
