Bethlehem Office Space For
For Sale
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115 E Broad Street, Bethlehem, PA 18018
Professional office space in Bethlehem, ideal for various service businesses.
Property Size2,696 SF
Price / SF$139.09
Days on Market164
Property Features for 115 E Broad Street
General Information
Standard status
Active
Size
2,696 SF
Property subtype
Office
Zoning
04CG
Building Details
Year Built
1902
Units
1
Tenancy
Single
Listing Agency:
KW Real Estate - Palmerton
Listed By:
Jim Christman · License #AB067586
Source:
Crexi
Added: Mar 20
Changed: Aug 24
Last Checked: Aug 28 at 8:10PM
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 KW Real Estate - Palmerton
Investment Insights
Based on property information with market context.
Located in the heart of Bethlehem, 115 E Broad Street presents a professional office opportunity suitable for various uses, including law offices, title companies, real estate offices, and other service-based businesses. The 2696 square foot property features multiple private offices, a reception area, conference room space, and a kitchenette. The interior combines classic character with practical updates, showcasing high ceilings, detailed trim work, and a clean, professional finish. Multiple levels allow for flexible workspace configuration, supporting both private and collaborative environments. A new forced air furnace is planned for 2025. The property is conveniently located minutes from Route 22, Route 378, and Route 191, providing access to Allentown, Easton, and the greater Lehigh Valley. Situated along a well-traveled corridor, the location offers visibility and convenience for clients and staff. A shared parking lot at the rear of the property provides off-street parking in a downtown setting. The current tenant's lease (law office) is set to conclude at settlement. The sale includes real estate only.
Key Highlights
- Prime location in the heart of Bethlehem with strong visibility and accessibility.
- Multiple private offices, reception area, and conference room suitable for professional use.
- Shared parking lot provides valuable off‑street parking.
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
$19,687
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
5.25%
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%
$393,740
$393.7K
Cap Rate 7%
$281,243
$281.2K
Cap Rate 9%
$218,744
$218.7K
Market Conditions
NOI Build-Up for 2,696 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
$28.5K $10.56/SF
− Vacancy
−$2.2K −$0.82/SF
EGI
$26.2K $9.74/SF
− OpEx
−$6.6K −$2.43/SF
NOI
$19.7K $7.30/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
25.00%
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%
$393,740
Cap Rate 7%
$281,243
Cap Rate 9%
$218,744
Alternative Uses
Best Use
Office B
$281.2K
$246.1K – $328.1K
NOI $19,687 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$396.5K
$346.9K – $462.5K
NOI $27,752 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 18018, PA
32,388
Population
14,669
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,228
Density / Sq Mi
$71,968
Median Household Income
$43,471
Median Earnings
$1,261
Median Rent
$224,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Professional office space in Bethlehem, ideal for various service businesses.
Where is this office units located?
The property is located at 115 E Broad Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime location in the heart of Bethlehem with strong visibility and accessibility.; Multiple private offices, reception area, and conference room suitable for professional use.; Shared parking lot provides valuable off‑street parking.
