Building Details

Construction Cape Cod

Listing Agency: Grace Realty Co Inc i***@gracerealty.biz Show Phone

Listed By: Christopher J Zajacek Show Phone

Source: Exprealty

Added: Aug 15, 2025 Changed: Aug 20 Last Checked: Sep 7 at 4:30PM

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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 Grace Realty Co Inc

Investment Insights

Based on property information with market context.

This corner commercial property is zoned Town Center and includes a 1,952 square foot cape cod home with a detached garage. The site offers an opportunity for adaptive reuse of the existing home or redevelopment to support a new use. The property is currently rented as a residential home on a month-to-month basis.

Located on Sullivan Trail in the Forks Township retail corridor, the property sits at a signalized corner intersection, providing visibility for business activity. Town Center zoning allows a range of potential uses, including day care center, medical office, professional services, automotive accessories, convenient store, bank, retail store, and repair shop.

With its corner positioning, detached garage, and flexible zoning, the site can be structured to fit a variety of operational concepts once approvals are obtained for the desired use.

Key Highlights

• Corner property zoned Town Center at a signalized intersection on the Forks Township retail corridor
• Includes a 1,952 sq. ft. 1952 cape cod home plus a detached garage
• Month‑to‑month rental as a residential home, with tenants in place

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

$20,247

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

3.38%

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%

$404,940 $404.9K

Cap Rate 7%

$289,243 $289.2K

Cap Rate 9%

$224,967 $225.0K

Market Conditions

NOI Build-Up for 1,952 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

$29.3K $15.00/SF

− Vacancy

−$2.3K −$1.17/SF

EGI

$27.0K $13.83/SF

− OpEx

−$6.7K −$3.46/SF

NOI

$20.2K $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 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%

$404,940

Cap Rate 7%

$289,243

Cap Rate 9%

$224,967

Alternative Uses

Best Use

Office B

$289.2K

$253.1K – $337.5K (±1% cap)

NOI $20,247 @ 7.0% cap · market cap 3.38%

Second Best

Healthcare Medical

$203.6K

$178.2K – $237.6K (±1% cap)

NOI $14,254 @ 7.0% cap · market cap 2.38%

Theoretical Best

Office A

$370.2K

$324.0K – $431.9K (±1% cap)

NOI $25,916 @ 7.0% cap · market cap 4.32%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Auto Parts Store Building Supply Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

446

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 18040, PA

16,980

Population

6,945

Households

2.4

Avg Household Size

46

Median Age

41%

College-Educated

94%

High-School Grad

17.3 sq mi

ZIP Area

982

Density / Sq Mi

$108,994

Median Household Income

$56,825

Median Earnings

$1,410

Median Rent

$347,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Easton Animal Hospital — 2015 Sullivan Trail, Easton, PA 18040
• Native American Veterinary Services — 2015 Sullivan Trail, Easton, PA 18040

Frequently Asked Questions

What type of property is this?

Medical Office Space - Corner property in Town Center zoning, featuring a 1,952 sq. ft. cape cod home with detached garage.

Where is this medical office space located?

The property is located at 1515 Sullivan Trl Forks Twp, PA.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: Corner property zoned Town Center at a signalized intersection on the Forks Township retail corridor; Includes a 1,952 sq. ft. 1952 cape cod home plus a detached garage; Month‑to‑month rental as a residential home, with tenants in place