Iconic Easton Arts
230 FERRY STREET Easton, PA 18042
For Sale
$3,470,000
Mixed-use property with gallery, studios, apartments, and fitness gym.
Property Size40,000 SF
Lot Size0.32 Acres
Price / SF$86.75
Days on Market771
Property Features for 230 FERRY STREET
General Information
- Standard status
- Active
- Size
- 40,000 SF
- Lot size
- 0.32 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1857
Listing Agency:
BHHS Paul Ford Realtors
(610) 253-6123
Listed By:
Clay R Mitman · License #RM046330A
(610) 253-6123
Source:
Exitrealty
Added: Jun 17, 2024
Changed: Jul 6
Last Checked: Jul 26 at 8:20AM
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 BHHS Paul Ford Realtors
Investment Insights
Based on property information with market context.
This iconic Easton arts building, developed as a regional arts center, offers approximately 40,000 sq ft of mixed-use space. The property features gallery space, artist workshops, business offices, photography studios, a full fitness gym, fashion design space, and a florist. It also includes two 3-bedroom residential apartments and an efficiency apartment. The top floor penthouse apartment, previously owner-occupied, offers open spaces, personal galleries, and views of the Delaware River and the mountains. The balance of that floor has been used as a personal workshop and gallery space, with potential for residential or commercial use. The building is equipped with a full sprinkler system throughout, including the basement, a fully serviced freight elevator, and several loading docks. There are six off-street parking spaces plus an interior courtyard. The City of Easton parking deck is located less than one block away, along with local restaurants, stores, and the walking trail from downtown to College Hill.
Key Highlights
- 40,000 sq ft mixed‑use space with a diverse tenant mix including a gallery, studios, offices, and a gym.
- Penthouse apartment boasts Delaware River and mountain views, rivaling Manhattan properties.
- Two 3‑bedroom apartments and an efficiency apartment are included.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $480.0k | $12.00 |
| − Vacancy | −$37.4k | −$0.94 |
| EGI | $442.6k | $11.06 |
| − OpEx | −$199.2k | −$4.98 |
| NOI | $243.4k | $6.09 |
40,000 SF · lease $12.00/SF/yr · vacancy 7.80% · expense 45.00%
Alternative Uses
Best Use
Office B
$5.93M
$5.19M – $6.92M
NOI $414,900 @ 7.0% cap · market cap 11.96%
Second Best
Mixed Use
$5.79M
$5.06M – $6.75M
NOI $405,000 @ 7.0% cap · market cap 11.67%
Theoretical Best
Office A
$7.59M
$6.64M – $8.85M
NOI $531,072 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ergotem USA LLC
Factory
College Guidance Partnership
College
Jiva Fitness
Gym & Fitness Center
Stirner Modern Gallery
Art Gallery
Susan Kolar Couture
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with gallery, studios, apartments, and fitness gym.
Where is this mixed-use property located?
The property is located at 230 FERRY STREET Easton, PA.
What is the asking price?
The asking price for this property is $3,470,000.
What are key features of this property?
This property features: 40,000 sq ft mixed‑use space with a diverse tenant mix including a gallery, studios, offices, and a gym.; **Penthouse apartment boasts Delaware River and mountain views, rivaling Manhattan properties.**; Two 3‑bedroom apartments and an efficiency apartment are included.
