Two-Unit Office
New
For Sale
$599,000
1509 Easton Avenue, Bethlehem, PA 18017
CommercialSale, Bethlehem City, PA
Property Size2,956 SF
Lot Size0.14 Acres
Price / SF$202.64
Days on Market1
Property Features for 1509 Easton Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
04CG
Parking
5
Parking features
On Street, Parking Lot, Off Street
Security features
Security
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
Rt 22 exit toward PA-512/Center St/Bethlehem -Turn left onto Bath Pike (PA-512 S). Continue on Center St (PA-512). Go for 2.1 mi. Turn left onto E Elizabeth Ave. Go for 0.3 mi. Turn slightly left onto Easton Ave. Go for 0.2 mi. End at 1509 Easton Ave
Subdivision
Bethlehem-North
Standard status
Active
APN
N6SE3A-2-1-0204
Size
2,956 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
7124
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Cooling system
Zoned, Central Air
Water source
Public
Building Details
Year built
1959
Number of units
2
Flooring type
Wood, Vinyl
Building materials
Masonry, WoodSiding
Roof type
Flat
Listing Agency:
Howard Hanna TheFrederickGroup
(610) 398-0411
Listed By:
Carrie Wilson · License #RS348789
(610) 349-0155
Added: Oct 15
Last Checked: Oct 15 at 3:06AM
MLS# 786049
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 2,956-square-foot freestanding office building sits on a 0.138-acre lot and was built in 1959. The entire property is occupied by The Lesson Center, which operates a music school with reception and waiting areas and multiple private lesson studios. The building retains a two-unit layout, with separate electrical meters and 200-amp service for each unit. A new roof was installed in 2024, and both gas-fired heating units were replaced in 2022.
The lease runs through September 2029 and includes two additional five-year renewal options. It is structured as modified NNN, with contractual annual rent increases and tenant reimbursement of key operating expenses. The property fronts Easton Avenue in Bethlehem and has off-street parking, including a parking lot, as well as on-street parking options.
The lease runs through September 2029 and includes two additional five-year renewal options. It is structured as modified NNN, with contractual annual rent increases and tenant reimbursement of key operating expenses. The property fronts Easton Avenue in Bethlehem and has off-street parking, including a parking lot, as well as on-street parking options.
Key Highlights
- 2,956‑square‑foot office building on a 0.138‑acre lot
- Fully occupied by The Lesson Center, a music education operator
- Lease term through September 2029, plus two five‑year renewal options
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
Yes
Utilities to site
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - A music education tenant occupies the entire building under a modified NNN lease with renewal options.
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: 2,956‑square‑foot office building on a 0.138‑acre lot; Fully occupied by The Lesson Center, a music education operator; Lease term through September 2029, plus two five‑year renewal options
