Three-Story Mixed-Use
For Sale
$490,000
1120 HAMILTON STREET, Allentown, PA 18101
Professional workspace occupies the ground floor, with two apartments on the upper levels.
Property Size3,480 SF
Price / SF$140.80
Days on Market12
Property Features for 1120 HAMILTON STREET
General Information
Standard status
Active
Size
3,480 SF
Total Parking Spaces
7
Property subtype
Commercial
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Office Units
1
Building Details
Year Built
1895
Buildings
1
Stories
3
Listing Agency:
Ehret Realty Inc
Listed By:
Emily M Stout
(610) 656-5065
Source:
Cummingsrealtors
Added: Sep 4
Changed: Sep 15
Last Checked: Sep 15 at 6:19AM
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 Ehret Realty Inc
Investment Insights
Based on property information with market context.
Located at 1120 Hamilton Street in Downtown Allentown, this three-story mixed-use property combines a ground-floor professional office with residential space above. The building contains approximately 3,480 SF and was constructed in 1895.
The first floor is configured as a dental office with a professional layout and client access. Residential space includes a 1-bedroom, 1-bath apartment and a 2-bedroom, 1-bath apartment spanning the second and third floors. Seven private on-site parking spaces support the property, while the downtown setting provides street-facing exposure. The sale includes the real estate only; dental equipment is excluded, though it may be available separately.
The first floor is configured as a dental office with a professional layout and client access. Residential space includes a 1-bedroom, 1-bath apartment and a 2-bedroom, 1-bath apartment spanning the second and third floors. Seven private on-site parking spaces support the property, while the downtown setting provides street-facing exposure. The sale includes the real estate only; dental equipment is excluded, though it may be available separately.
Key Highlights
- Approximately 3,480 SF mixed‑use property
- Three‑story building constructed in 1895
- Ground‑floor dental office configuration
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
$33,982
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
6.94%
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%
$679,640
$679.6K
Cap Rate 7%
$485,457
$485.5K
Cap Rate 9%
$377,578
$377.6K
Market Conditions
NOI Build-Up for 3,480 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
$58.5K $16.80/SF
− Vacancy
−$4.1K −$1.18/SF
EGI
$54.4K $15.62/SF
− OpEx
−$20.4K −$5.86/SF
NOI
$34.0K $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%
$679,640
Cap Rate 7%
$485,457
Cap Rate 9%
$377,578
Alternative Uses
Best Use
Mixed Use
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$458.7K
$401.4K – $535.2K
NOI $32,109 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$683.7K
$598.2K – $797.6K
NOI $47,857 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,738
Businesses Nearby
Explore this area
Business Placement
Demographics for 18101, PA
5,108
Population
2,686
Households
1.9
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
0.3 sq mi
ZIP Area
17,027
Density / Sq Mi
$41,542
Median Household Income
$34,397
Median Earnings
$1,337
Median Rent
$153,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Professional workspace occupies the ground floor, with two apartments on the upper levels.
Where is this mixed-use property located?
The property is located at 1120 HAMILTON STREET Allentown, PA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Approximately 3,480 SF mixed‑use property; Three‑story building constructed in 1895; Ground‑floor dental office configuration
