Three-Story Mixed-Use
For Sale
$2,250,000
13 15 E 3rd Street, Bethlehem, PA 18015
ResidentialIncome, Bethlehem City, PA
Property Size17,350 SF
Lot Size0.13 Acres
Price / SF$129.68
Days on Market94
Property Features for 13 15 E 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
04CB
Subdivision
Not in Development
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
From I-78, take Exit 67 toward PA-378 N. Follow PA-378 N, turn left onto E. 3rd Street. Property is on the right.
Standard status
Active
APN
P6SE1A 5 6 0204
Size
17,350 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
4681
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
outdoor roof deck
Building Details
Year built
1900
Number of units
2
Listing Agency:
RE/MAX Real Estate · RE/MAX International
(610) 770-9000
Listed By:
Neel Shah
(610) 770-9000 x124
Added: Jun 9
Changed: Aug 19
Last Checked: Sep 10 at 7:06AM
MLS# 778699
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1900, this three-story mixed-use property contains approximately 17,350 square feet across commercial areas and potential residential space. Three separate street-level entrances divide access: two serve the first floor, basement, second-floor rear, and roof deck, while a third independently serves the second-floor front and third floor. The commercial portions are delivered as open shell for build-out. Zoning approval for five residential units transfers with the sale, and the upper levels may alternatively support commercial use under Central Business zoning. Additional rooftop development potential is also identified.
The property is located at 13–15 E. 3rd Street in Bethlehem City, Pennsylvania, near ArtsQuest, SteelStacks, the Hilton Tempo Hotel, Wind Creek, and Lehigh University. Municipal parking garages and street parking surround the building, with direct access to I-78. Public water and public sewer serve the property, which occupies 0.129 acres.
The property is located at 13–15 E. 3rd Street in Bethlehem City, Pennsylvania, near ArtsQuest, SteelStacks, the Hilton Tempo Hotel, Wind Creek, and Lehigh University. Municipal parking garages and street parking surround the building, with direct access to I-78. Public water and public sewer serve the property, which occupies 0.129 acres.
Key Highlights
- Approximately 17,350 SF across three stories
- Zoning approval transfers for 5 residential units
- Three street‑level entrances provide separated access
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
$178,597
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
7.94%
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%
$3,571,940
$3.6M
Cap Rate 7%
$2,551,386
$2.6M
Cap Rate 9%
$1,984,411
$2.0M
Market Conditions
NOI Build-Up for 17,350 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
$312.3K $18.00/SF
− Vacancy
−$26.5K −$1.53/SF
EGI
$285.8K $16.47/SF
− OpEx
−$107.2K −$6.18/SF
NOI
$178.6K $10.29/SF
Area
Lehigh County, PA
Vacancy
8.50%
Lease Rate
$18.00 /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%
$3,571,940
Cap Rate 7%
$2,551,386
Cap Rate 9%
$1,984,411
Alternative Uses
Best Use
Mixed Use
$2.55M
$2.23M – $2.98M
NOI $178,597 @ 7.0% cap · market cap 7.94%
Second Best
Retail
$1.69M
$1.48M – $1.97M
NOI $118,248 @ 7.0% cap · market cap 5.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,662
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 21%
Groceries 15%
Hotels & Casinos 8%
Wendy's
Dining
14,468 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
14,014 visits/mo
0.2 miles
Starbucks
Dining
12,511 visits/mo
0.3 miles
Perkins Restaurant & Bakery
Dining
7,585 visits/mo
0.3 miles
Dunkin' Donuts
Dining
7,199 visits/mo
0.3 miles
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Open-shell commercial areas support tenant build-out, while approved residential plans allow five upper-floor units.
Where is this mixed-use property located?
The property is located at 13 15 E 3rd Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Approximately 17,350 SF across three stories; Zoning approval transfers for 5 residential units; Three street‑level entrances provide separated access
