Redevelopment Opportunity in
1421 Hamilton St Allentown, PA
1421 Hamilton St, Allentown, PA, 00000
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For Sale
Contact for pricing
Office building with redevelopment potential, updated utilities, and parking.
Property Size7,358 SF
Lot Size0.36 Acres
Price / SF$65.91
Days on Market416
Property Features for 1421 Hamilton St
General Information
- Standard status
- Active
- Size
- 7,358 SF
- Lot size
- 0.36 Acres
- Property subtype
- MULTIFAMILY
Listing Agency
Feinberg Real Estate Advisors, LLC
(610) 709-6233
Listed by
Cindy McDonnell Feinberg · License #RS370904
Source
Moodyscre
Added: May 29, 2025 Checked: Jul 17 at 6:00 am
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 Feinberg Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This property presents an opportunity for office redevelopment, with potential for residential use. The building has been fully remediated and features updated plumbing and utilities. Central air was updated in 2018, and a new boiler was installed in 2016. The property also benefits from a new roof, which is under warranty. There are 20 parking spots available. The property has a size of 7358 square feet.
Key Highlights
- New roof installed and is under warranty
- Fully remediated with updated plumbing and utilities
- 20 parking spots
Local 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 | $57.4k | $7.80 |
| − Vacancy | −$4.1k | −$0.56 |
| EGI | $53.3k | $7.24 |
| − OpEx | −$13.3k | −$1.81 |
| NOI | $39.9k | $5.43 |
7,358 SF · lease $7.80/SF/yr · vacancy 7.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$570.6K
$499.3K – $665.8K
NOI $39,945 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.45M
$1.26M – $1.69M
NOI $101,187 @ 7.0% cap · market cap 20.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Office building with redevelopment potential, updated utilities, and parking.
Where is this office building located?
The property is located at 1421 Hamilton St Allentown, PA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: New roof installed and is under warranty; Fully remediated with updated plumbing and utilities; 20 parking spots
