Versatile Property on High-Traffic
For Sale
$425,000
981 Riverview Drive, Walnutport, PA 89460
Two-unit property suitable for industrial, retail, or office use.
Property Size5,733 SF
Lot Size1.00 Acre
Price / SF$101.77
Days on Market87
Property Features for 981 Riverview Drive
General Information
Standard status
Active
Size
5,733 SF
Lot size
1.00 Acre
Property subtype
Other Industrial
Building Details
Building Size
5,733 SF
Year Built
1880
Listing Agency:
SVN | Imperial Realty
(610) 751-5601
Listed By:
Cindy Miller
(610) 751-5601
Source:
Thebrokerlist
Added: May 18
Changed: Aug 12
Last Checked: Aug 12 at 3:14AM
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 SVN | Imperial Realty
Investment Insights
Based on property information with market context.
Located on Riverview Drive in Lehigh Township, this property offers a blend of historic character and modern functionality. It is suitable for a contractor, beauty salon, or retail sales operation. The property includes two units. The first unit is a 1,456-square-foot, two-story house with a basement, constructed in the 1800s. It is connected to public water and has an on-lot septic system, with borough sewer line access available next door. The second unit is a 2,720-square-foot barn, originally built in the early 1900s and renovated in 1991. The barn features an open floor plan with a loft, restroom, small office space, and a separate electric meter with 400 amp service. The property is zoned Industrial with a variance for retail sales and service operations. Situated along PA Route 145 in Walnutport, Lehigh Township, the location benefits from high daily visibility and consistent regional activity. The corridor includes national retailers and quick-service restaurants such as McDonald’s, Burger King, Taco Bell, Giant Foods, AutoZone, Dollar General, and Dollar Tree. PA Route 145 serves as a primary thoroughfare between Carbon County and the Lehigh Valley, delivering steady commuter and commercial traffic. The site is positioned approximately midway between the Northeast Extension of the Pennsylvania Turnpike (I-476) and the PA Route 22 MacArthur Road Exit, each about a 15-mile drive away. It is across the street from the former K-mart and 2 minutes to the commercial district.
Key Highlights
- Prime location on highly trafficked PA Route 145, ensuring strong daily visibility.
- Zoned Industrial with a variance for retail sales and service.
- Two units: renovated 2,720 SF barn suitable for retail/commercial use and a 1,456 SF house.
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
$32,342
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
7.61%
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%
$646,840
$646.8K
Cap Rate 7%
$462,029
$462.0K
Cap Rate 9%
$359,356
$359.4K
Market Conditions
NOI Build-Up for 4,176 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
$50.1K $12.00/SF
− Vacancy
−$3.9K −$0.94/SF
EGI
$46.2K $11.06/SF
− OpEx
−$13.9K −$3.32/SF
NOI
$32.3K $7.74/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /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%
$646,840
Cap Rate 7%
$462,029
Cap Rate 9%
$359,356
Alternative Uses
Best Use
Retail
$462.0K
$404.3K – $539.0K
NOI $32,342 @ 7.0% cap · market cap 7.61%
Second Best
Industrial
$443.6K
$388.1K – $517.5K
NOI $31,049 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$792.1K
$693.1K – $924.1K
NOI $55,444 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-unit property suitable for industrial, retail, or office use.
Where is this flex space located?
The property is located at 981 Riverview Drive Walnutport, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime location on highly trafficked PA Route 145, ensuring strong daily visibility.; Zoned Industrial with a variance for retail sales and service.; Two units: **renovated 2,720 SF barn** suitable for retail/commercial use and a 1,456 SF house.
