Three-Story Mixed-Use
For Sale
$2,250,000
13 East 3rd Street, Bethlehem, PA 18015
Three-story property with separate access points for commercial space and approved residential conversion.
Property Size17,350 SF
Price / SF$129.68
Days on Market65
Property Features for 13 East 3rd Street
General Information
Standard status
Active
Size
17,350 SF
Property subtype
Mixed Use
Zoning
Central Business Zoning
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,680
Building Details
Building Size
17,350 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
RE/MAX Real Estate
(610) 770-9000
Listed By:
Neel Shah
Source:
Bhhspaulfordrealtors
Added: Jun 9
Changed: Aug 4
Last Checked: Aug 11 at 12:44PM
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 RE/MAX Real Estate
Investment Insights
Based on property information with market context.
This three-story mixed-use building, constructed in 1900, offers approximately 17,350 SF spanning commercial areas and upper-level space with residential conversion potential. Three street-level entrances divide access among different sections of the property. The commercial portions include the first floor, basement, second-floor rear, and an outdoor roof deck, with open-shell interiors available for build-out. A separate entrance provides independent access to the second-floor front and third floor. Zoning approval for five residential units transfers with the sale, while the upper levels may also support commercial use under Central Business Zoning. Additional rooftop development potential is also identified.
The property is near ArtsQuest, SteelStacks, the Hilton Tempo Hotel, Wind Creek, and Lehigh University. Multiple municipal parking garages, street parking, and direct access to I-78 serve the surrounding area.
The property is near ArtsQuest, SteelStacks, the Hilton Tempo Hotel, Wind Creek, and Lehigh University. Multiple municipal parking garages, street parking, and direct access to I-78 serve the surrounding area.
Key Highlights
- Approximately ~17,350 SF across commercial and potential residential areas
- Three street‑level entrances provide separated access to different building sections
- Zoning approval for 5 residential units transfers with the sale
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
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,355 @ 7.0% cap · market cap 4.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property with separate access points for commercial space and approved residential conversion.
Where is this mixed-use property located?
The property is located at 13 East 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 commercial and potential residential areas; Three street‑level entrances provide separated access to different building sections; Zoning approval for 5 residential units transfers with the sale
