Three-Story Multifamily Building with
For Sale
$900,000
1413 W Court Street, Allentown, PA 18102
Three-story building under build-out with six garage spaces and infrastructure for six separate units.
Property Size8,640 SF
Price / SF$104.17
Days on Market174
Property Features for 1413 W Court Street
General Information
Standard status
Active
Size
8,640 SF
Total Parking Spaces
12
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$6,180
Building Details
Stories
3
Listing Agency:
Keller Williams Allentown
Listed By:
Ryan B. McGeehan · License #AB068951
(610) 435-1800
Source:
Exprealty
Added: Apr 20
Changed: Sep 21
Last Checked: Oct 9 at 11:46PM
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 Keller Williams Allentown
Investment Insights
Based on property information with market context.
This three-story multifamily building totals 8,640 square feet and is currently in the process of being built out. A framework for six separate units has already been established, with plumbing and fire sprinkler systems installed. Completion work is still needed, including drywall and interior finishes, allowing the final build-out to be customized to fit intended use and finishes.
The property is located in the heart of downtown Allentown. It includes six designated garage spaces sized to accommodate large SUVs, for a total of 12 parking spaces.
The property is located in the heart of downtown Allentown. It includes six designated garage spaces sized to accommodate large SUVs, for a total of 12 parking spaces.
Key Highlights
- Three‑story commercial building under build‑out totaling 8,640 SF
- Six designated garage spaces for large SUVs plus up to 12 total parking spaces
- Framework is set for six separate units with plumbing and fire sprinkler systems installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,720
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,594,400
$1.6M
Cap Rate 7%
$1,138,857
$1.1M
Cap Rate 9%
$885,778
$885.8K
Market Conditions
NOI Build-Up for 8,640 SF
Gross rent
$155.5K $18.00/SF
− Vacancy
−$10.6K −$1.22/SF
EGI
$144.9K $16.78/SF
− OpEx
−$65.2K −$7.55/SF
NOI
$79.7K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,594,400
Cap Rate 7%
$1,138,857
Cap Rate 9%
$885,778
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$996.5K – $1.33M
NOI $79,720 @ 7.0% cap · market cap 8.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.70M
$1.49M – $1.98M
NOI $118,817 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story building under build-out with six garage spaces and infrastructure for six separate units.
Where is this apartment building located?
The property is located at 1413 W Court Street Allentown, PA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Three‑story commercial building under build‑out totaling 8,640 SF; Six designated garage spaces for large SUVs plus up to 12 total parking spaces; Framework is set for six separate units with plumbing and fire sprinkler systems installed
