Freestanding Office
New
For Sale
$599,000
1509 Easton Avenue, Bethlehem, PA 18017
A music education operator occupies the building under a modified NNN lease.
Property Size2,956 SF
Price / SF$202.64
Days on Market3
Property Features for 1509 Easton Avenue
General Information
Standard status
Active
Size
2,956 SF
Property subtype
Office
Occupancy
100%
Additional Details
Road Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$7,123
Building Details
Building Size
2,956 SF
Year Built
1959
Buildings
1
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
Howard Hanna TheFrederickGroup
Listed By:
Carrie Wilson · License #RS348789
(610) 398-0411
Source:
Bhhspaulfordrealtors
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 1:59PM
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 Howard Hanna TheFrederickGroup
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Investment Insights
Based on property information with market context.
This freestanding office building in Bethlehem is configured for music instruction, with reception and waiting areas alongside multiple private lesson studios. The Lesson Center occupies the full 2,956-square-foot building. The current lease runs through September 2029 and provides two additional five-year renewal options, with contractual annual rent increases and a modified NNN structure.
The property retains its original two-unit layout, with separate electrical meters and 200-amp service for each unit. Improvements include a roof installed in 2024 and two gas-fired heating units replaced in 2022. The building fronts Easton Avenue and has on-site parking, with additional parking options nearby.
The property retains its original two-unit layout, with separate electrical meters and 200-amp service for each unit. Improvements include a roof installed in 2024 and two gas-fired heating units replaced in 2022. The building fronts Easton Avenue and has on-site parking, with additional parking options nearby.
Key Highlights
- The Lesson Center occupies the full 2,956 SF building
- Lease through September 2029, plus two five‑year renewal options
- Modified NNN lease with contractual annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,661
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,220
$613.2K
Cap Rate 7%
$438,014
$438.0K
Cap Rate 9%
$340,678
$340.7K
Market Conditions
NOI Build-Up for 2,956 SF
Gross rent
$44.3K $15.00/SF
− Vacancy
−$3.5K −$1.17/SF
EGI
$40.9K $13.83/SF
− OpEx
−$10.2K −$3.46/SF
NOI
$30.7K $10.37/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,220
Cap Rate 7%
$438,014
Cap Rate 9%
$340,678
Alternative Uses
Best Use
Office B
$438.0K
$383.3K – $511.0K
NOI $30,661 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.7K
$490.6K – $654.1K
NOI $39,246 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 18017, PA
39,663
Population
16,773
Households
2.4
Avg Household Size
46
Median Age
40%
College-Educated
93%
High-School Grad
16.8 sq mi
ZIP Area
2,361
Density / Sq Mi
$88,946
Median Household Income
$45,618
Median Earnings
$1,535
Median Rent
$310,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A music education operator occupies the building under a modified NNN lease.
Where is this office building located?
The property is located at 1509 Easton Avenue Bethlehem, PA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: The Lesson Center occupies the full 2,956 SF building; Lease through September 2029, plus two five‑year renewal options; Modified NNN lease with contractual annual rent increases
