Mixed-Use Building with
For Sale
$329,500
15 N 4th Street, Emmaus, PA 18049
ResidentialIncome, Emmaus Boro, PA
Property Size1,654 SF
Lot Size0.07 Acres
Price / SF$199.21
Days on Market47
Property Features for 15 N 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B-C Central Commercial
Parking
8
Parking features
On Street, Off Street
Subdivision
Not in Development
Elementary school district
East Penn
Middle school district
East Penn
High school district
East Penn
Directions
1/2 block North of Main St on 4th. Property on Right when coming from Main St.
Standard status
Active
APN
549466100173 1
Size
1,654 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
4185
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating)
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1885
Floors in Building
2
Number of units
2
Flooring type
Carpet
Building materials
Brick
Listing Agency:
Hawthorne Real Estate
(610) 628-4022
Listed By:
Mark Smith
(610) 509-1550
Added: Jul 22
Changed: Sep 2
Last Checked: Sep 6 at 3:06AM
MLS# 781273
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-floor commercial area with an upper-level residential unit. The commercial space is occupied by a dispatching company with more than a decade of tenure, while the second floor contains a newly completed one-bedroom apartment. The apartment includes the attic, which could be converted into a second bedroom. The property consists of 1654 square feet on 0.068 acres and is held across 2 separate deeds.
Built in 1885, the brick building is served by public water and public sewer. Parking is available both on the street and off street. B-C Central Commercial zoning applies to the property, supporting its mixed commercial and residential configuration.
Built in 1885, the brick building is served by public water and public sewer. Parking is available both on the street and off street. B-C Central Commercial zoning applies to the property, supporting its mixed commercial and residential configuration.
Key Highlights
- Mixed‑use building with 1654 square feet on 0.068 acres
- Ground‑floor commercial space occupied by a dispatching company for over a decade
- Brand new one‑bedroom apartment on the second floor
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
$17,026
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
5.17%
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%
$340,520
$340.5K
Cap Rate 7%
$243,229
$243.2K
Cap Rate 9%
$189,178
$189.2K
Market Conditions
NOI Build-Up for 1,654 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
$29.8K $18.00/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$27.2K $16.47/SF
− OpEx
−$10.2K −$6.18/SF
NOI
$17.0K $10.29/SF
Area
Lehigh County, PA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$340,520
Cap Rate 7%
$243,229
Cap Rate 9%
$189,178
Alternative Uses
Best Use
Mixed Use
$243.2K
$212.8K – $283.8K
NOI $17,026 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$138.0K
$120.8K – $161.0K
NOI $9,662 @ 7.0% cap · market cap 2.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 18049, PA
18,440
Population
7,659
Households
2.4
Avg Household Size
43
Median Age
38%
College-Educated
94%
High-School Grad
15.0 sq mi
ZIP Area
1,229
Density / Sq Mi
$93,924
Median Household Income
$44,310
Median Earnings
$1,316
Median Rent
$282,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - A leased ground-floor commercial space is paired with a newly completed one-bedroom apartment and attic expansion potential.
Where is this mixed-use property located?
The property is located at 15 N 4th Street Emmaus, PA.
What is the asking price?
The asking price for this property is $329,500.
What are key features of this property?
This property features: Mixed‑use building with 1654 square feet on 0.068 acres; Ground‑floor commercial space occupied by a dispatching company for over a decade; Brand new one‑bedroom apartment on the second floor
