Five-Story Brewery
For Sale
$6,500,000
812814 W Hamilton Street, Allentown, PA 18101
Five-story brewery building fully renovated in 2009 with event and hospitality space plus office-ready upper-floor layouts.
Property Size51,816 SF
Price / SF$125.44
Days on Market460
Property Features for 812814 W Hamilton Street
General Information
Standard status
Active
Size
51,816 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
1900
Year Renovated
2009
Buildings
1
Stories
5
Building Size
51,816 SF
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Century 21 Keim Realtors
(877) 208-4158
Listed By:
Loren K Keim · License #RB-045762-L
Source:
Deepcreeklake
Added: May 9, 2025
Changed: Aug 11
Last Checked: Aug 10 at 4:02AM
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 Century 21 Keim Realtors
Investment Insights
Based on property information with market context.
Fegley’s Brew Works Building is a five-story, 151,816-square-foot mixed-use brewery property built in 1900 and fully renovated in 2009. The lower level, ground floor, and multiple upper levels are outfitted for events and hospitality, supported by a commercial kitchen and related support spaces across several floors. Multiple levels provide open layouts with high ceilings, including the third and fifth floors, which are described as well-suited for event use or potential conversion into creative office space.
The fourth floor is currently leased to two office tenants and features exposed brick and glass wall design. Two additional floors are used as owner-occupied office and production space, and on-site brewing infrastructure remains in place for continued use or repurposing.
The building is located in the Neighborhood Improvement Zone (NIZ) and is positioned in the heart of Downtown Allentown along a high-traffic corridor, with PPL Center, Da Vinci Science Center, and Archer Music Hall described as nearby.
The fourth floor is currently leased to two office tenants and features exposed brick and glass wall design. Two additional floors are used as owner-occupied office and production space, and on-site brewing infrastructure remains in place for continued use or repurposing.
The building is located in the Neighborhood Improvement Zone (NIZ) and is positioned in the heart of Downtown Allentown along a high-traffic corridor, with PPL Center, Da Vinci Science Center, and Archer Music Hall described as nearby.
Key Highlights
- Five‑story mixed‑use brewery building totaling 151,816 SF
- Fully renovated in 2009; built in 1900
- Neighborhood Improvement Zone (NIZ) location
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
$281,299
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
4.33%
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%
$5,625,980
$5.6M
Cap Rate 7%
$4,018,557
$4.0M
Cap Rate 9%
$3,125,544
$3.1M
Market Conditions
NOI Build-Up for 51,816 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
$404.2K $7.80/SF
− Vacancy
−$29.1K −$0.56/SF
EGI
$375.1K $7.24/SF
− OpEx
−$93.8K −$1.81/SF
NOI
$281.3K $5.43/SF
Area
Allentown, PA
Vacancy
7.20%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
25.00%
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%
$5,625,980
Cap Rate 7%
$4,018,557
Cap Rate 9%
$3,125,544
Alternative Uses
Best Use
Office B
$4.02M
$3.52M – $4.69M
NOI $281,299 @ 7.0% cap · market cap 4.33%
Second Best
Industrial
$3.33M
$2.92M – $3.89M
NOI $233,209 @ 7.0% cap · market cap 3.59%
Theoretical Best
Specialty Retail
$10.18M
$8.91M – $11.88M
NOI $712,574 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 18101, PA
5,108
Population
2,686
Households
1.9
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
0.3 sq mi
ZIP Area
17,027
Density / Sq Mi
$41,542
Median Household Income
$34,397
Median Earnings
$1,337
Median Rent
$153,800
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?
Brewery - Five-story brewery building fully renovated in 2009 with event and hospitality space plus office-ready upper-floor layouts.
Where is this brewery located?
The property is located at 812814 W Hamilton Street Allentown, PA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Five‑story mixed‑use brewery building totaling 151,816 SF; Fully renovated in 2009; built in 1900; Neighborhood Improvement Zone (NIZ) location
