Historic Two-Story Office
132 S 3rd St Easton, PA 18042
For Sale
Contact for pricing
Two-story office building featuring preserved industrial character and a fully upgraded underground parking garage.
Property Size45,644 SF
Price / SF$225.66
Days on Market109
Property Features for 132 S 3rd St
General Information
- Standard status
- Active
- Size
- 45,644 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1990
Listing Agency:
Matthews
Listed By:
Ed Laycox · License #ABR006599
Source:
Crexi
Added: Apr 9
Changed: Jul 23
Last Checked: Jul 26 at 6:40AM
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 Matthews
Investment Insights
Based on property information with market context.
A historic office building that has been fully renovated while preserving original walls and industrial design elements. Originally developed as a single-story facility, the property is now configured as a two-story Class A office building.
The renovation includes a fully upgraded underground parking garage with 30 spaces. The building is described as a 100% leased, two-tenant property with both leases structured as 10-year terms and extension options.
Located in Downtown Easton’s Historic District near major population centers and the Lehigh and Delaware Rivers, the property is presented as an opportunity to acquire a stabilized historic community asset with scheduled rental increases included in both leases.
The renovation includes a fully upgraded underground parking garage with 30 spaces. The building is described as a 100% leased, two-tenant property with both leases structured as 10-year terms and extension options.
Located in Downtown Easton’s Historic District near major population centers and the Lehigh and Delaware Rivers, the property is presented as an opportunity to acquire a stabilized historic community asset with scheduled rental increases included in both leases.
Key Highlights
- Two‑story Class A office building converted from an original 21,000 SF single‑story to 45,644 SF (GSF).
- Historic preservation: full renovation preserved original walls and industrial design elements.
- Fully upgraded underground parking garage with 30 spaces.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $684.7k | $15.00 |
| − Vacancy | −$53.4k | −$1.17 |
| EGI | $631.3k | $13.83 |
| − OpEx | −$157.8k | −$3.46 |
| NOI | $473.4k | $10.37 |
45,644 SF · lease $15.00/SF/yr · vacancy 7.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.76M
$5.92M – $7.89M
NOI $473,442 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.66M
$7.58M – $10.10M
NOI $606,006 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Heritage Lanes
Corporate Office
scalarworks
Industrial Manufacturer
FAQs
What type of property is this?
Office building - Two-story office building featuring preserved industrial character and a fully upgraded underground parking garage.
Where is this office building located?
The property is located at 132 S 3rd St Easton, PA.
What is the asking price?
The asking price for this property is $10,300,000.
What are key features of this property?
This property features: Two‑story Class A office building converted from an original 21,000 SF single‑story to 45,644 SF (GSF).; Historic preservation: full renovation preserved original walls and industrial design elements.; Fully upgraded underground parking garage with 30 spaces.
