Flex Building with Fenced
For Sale
$950,000
1302 N 18th Street, Allentown, PA 18104
Combined warehouse and office improvements include renovated work areas, drive-in access, and secured vehicle storage.
Property Size5,500 SF
Price / SF$172.73
Days on Market13
Property Features for 1302 N 18th Street
General Information
Standard status
Active
Size
5,500 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
2,200 SF
Office Build-Out
1,800 SF
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$4,868
Building Details
Year Renovated
2016
Buildings
2
Listing Agency:
RE/MAX Real Estate
(610) 730-6059
Listed By:
Brenda Fortna · License #RS1272604
(610) 730-6059
Source:
Exprealty
Added: Aug 10
Changed: Aug 21
Last Checked: Aug 22 at 1:28PM
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 flex property combines approximately 5,500 square feet across two structures on more than half an acre. The primary building measures approximately 4,000 square feet, including a 2,200-square-foot warehouse and 1,800 square feet of office area. Two drive-in doors and 22-foot ceilings support warehouse operations. Renovated in 2016, the office portion includes a reception area, private offices, conference rooms, and additional second-floor workspace. A separate garage provides approximately 1,500 square feet.
The property is in the West End area with access to 22. A gated and fenced rear lot provides secured space for trucks and company dumpsters, with multiple access points. The offering includes 4 parcels and an easement from a neighboring parcel running along the fence line.
The property is in the West End area with access to 22. A gated and fenced rear lot provides secured space for trucks and company dumpsters, with multiple access points. The offering includes 4 parcels and an easement from a neighboring parcel running along the fence line.
Key Highlights
- Approximately 5,500 SF across two structures on more than half an acre
- 4,000 SF main flex building with 2,200 SF warehouse and 1,800 SF office
- Separate garage contains approximately 1,500 SF
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
$34,001
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
3.58%
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%
$680,020
$680.0K
Cap Rate 7%
$485,729
$485.7K
Cap Rate 9%
$377,789
$377.8K
Market Conditions
NOI Build-Up for 5,500 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
$42.2K $7.68/SF
− Vacancy
−$2.2K −$0.41/SF
EGI
$40.0K $7.27/SF
− OpEx
−$6.0K −$1.09/SF
NOI
$34.0K $6.18/SF
Area
Allentown, PA
Vacancy
5.30%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
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%
$680,020
Cap Rate 7%
$485,729
Cap Rate 9%
$377,789
Alternative Uses
Best Use
Warehouse
$485.7K
$425.0K – $566.7K
NOI $34,001 @ 7.0% cap · market cap 3.58%
Second Best
Office B
$426.5K
$373.2K – $497.6K
NOI $29,858 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$1.08M
$945.5K – $1.26M
NOI $75,636 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18104, PA
47,289
Population
18,686
Households
2.5
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
2,056
Density / Sq Mi
$94,279
Median Household Income
$48,585
Median Earnings
$1,620
Median Rent
$296,800
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?
Flex space - Combined warehouse and office improvements include renovated work areas, drive-in access, and secured vehicle storage.
Where is this flex space located?
The property is located at 1302 N 18th Street Allentown, PA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 5,500 SF across two structures on more than half an acre; 4,000 SF main flex building with 2,200 SF warehouse and 1,800 SF office; Separate garage contains approximately 1,500 SF
