Mixed-Use Twin
For Sale
$329,500
15 North 4th Street, Emmaus, PA 18049
Two separate deeds combine leased storefronts with newly completed vacant apartment space.
Property Size1,654 SF
Days on Market39
Property Features for 15 North 4th Street
General Information
Standard status
Active
Size
1,654 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,185
Building Details
Building Size
1,654 SF
Year Built
1885
Tenancy
Multi
Listing Agency:
Hawthorne Real Estate
(610) 628-4022
Listed By:
Mark Smith
Source:
Bhhspaulfordrealtors
Added: Jul 22
Changed: Aug 23
Last Checked: Aug 28 at 7:09PM
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 Hawthorne Real Estate
Investment Insights
Based on property information with market context.
This 1,654-square-foot mixed-use property comprises two adjoining sides, with commercial areas on the ground level and residential space above. The buildings are in excellent condition, with rear parking and separate deeds for each side. Both commercial spaces are leased: 15 N 4th St is occupied by a dispatching company, while the commercial area at 17 N 4th St is used as a hair salon and has been occupied since 2020.
The upper-level residences are brand new and currently vacant. At 15 N 4th St, the apartment includes one bedroom and an attic that could serve as a second bedroom. The combination of existing commercial tenancy, newly completed residential space, and two distinct deeds creates a varied mixed-use configuration at this Emmaus property.
The upper-level residences are brand new and currently vacant. At 15 N 4th St, the apartment includes one bedroom and an attic that could serve as a second bedroom. The combination of existing commercial tenancy, newly completed residential space, and two distinct deeds creates a varied mixed-use configuration at this Emmaus property.
Key Highlights
- 1,654‑square‑foot mixed‑use property with commercial space below and apartments above
- Two adjoining sides conveyed under 2 separate deeds
- Commercial space at 15 N 4th St occupied by a dispatching company
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
Retail
$161.0K
$140.9K – $187.9K
NOI $11,273 @ 7.0% cap · market cap 3.42%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two separate deeds combine leased storefronts with newly completed vacant apartment space.
Where is this mixed-use property located?
The property is located at 15 North 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: 1,654‑square‑foot mixed‑use property with commercial space below and apartments above; Two adjoining sides conveyed under 2 separate deeds; Commercial space at 15 N 4th St occupied by a dispatching company
