Corner Medical Office
For Sale
$799,000
1611 Pond Road, Allentown, PA 18104
SINGLE_FAMILY - Allentown City, PA
Property Size3,354 SF
Price / SF$238.22
Days on Market58
Property Features for 1611 Pond Road
General Information
Property type
Residential
Property subtype
Office
Zoning
GC-I
Parking
251
Elementary school district
Parkland
Middle school district
Parkland
High school district
Parkland
Directions
Route 22 to N Cedar Crest Blvd; Left on Winchester Rd; Right on Pond Rd. Suite 403
Subdivision
South Whitehall
Standard status
Active
APN
548724614622-6
Size
3,354 SF
Taxes and HOA fees
Tax Annual Amount
11027
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1995
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Brian K Bailey · License #AB065448
(484) 357-8559
Added: Jun 16
Changed: Aug 5
Last Checked: Aug 12 at 1:06PM
MLS# 779112
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.
Suite 403 is a 3,354-square-foot medical office condominium on the fourth floor of Paragon Centre. The corner unit includes five exam rooms, multiple consultation rooms, executive offices, ADA-compliant restrooms, and extensive built-in millwork and finish upgrades. Large corner exposure brings natural light into the interior, while a central HVAC system supports year-round climate control. The suite was formerly occupied by an ophthalmology and aesthetics practice and is configured for medical use.
Two designated spaces in the underground parking garage are included. The building also provides additional tenant and customer parking. Public water and public sewer serve the property, with electric heating and central air conditioning. Constructed in 1995, the condominium is zoned GC-I.
Two designated spaces in the underground parking garage are included. The building also provides additional tenant and customer parking. Public water and public sewer serve the property, with electric heating and central air conditioning. Constructed in 1995, the condominium is zoned GC-I.
Key Highlights
- 3,354 SF fourth‑floor medical office condominium
- Five exam rooms plus multiple consultation rooms
- Executive offices and ADA‑compliant restrooms
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
$29,353
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
3.67%
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%
$587,060
$587.1K
Cap Rate 7%
$419,329
$419.3K
Cap Rate 9%
$326,144
$326.1K
Market Conditions
NOI Build-Up for 3,354 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
$52.3K $15.60/SF
− Vacancy
−$3.4K −$1.01/SF
EGI
$48.9K $14.59/SF
− OpEx
−$19.6K −$5.83/SF
NOI
$29.4K $8.75/SF
Area
Allentown, PA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
40.00%
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%
$587,060
Cap Rate 7%
$419,329
Cap Rate 9%
$326,144
Alternative Uses
Best Use
Healthcare Medical
$419.3K
$366.9K – $489.2K
NOI $29,353 @ 7.0% cap · market cap 3.67%
Second Best
Office B
$260.1K
$227.6K – $303.5K
NOI $18,208 @ 7.0% cap · market cap 2.28%
Theoretical Best
Specialty Retail
$658.9K
$576.6K – $768.7K
NOI $46,124 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,070
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 18104, PA
47,289
Population
18,686
Households
2.5
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
2,056
Density / Sq Mi
$94,279
Median Household Income
$48,585
Median Earnings
$1,620
Median Rent
$296,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fourth-floor medical suite with exam rooms, consultation areas, executive offices, ADA-compliant restrooms, and dedicated garage parking.
Where is this medical office space located?
The property is located at 1611 Pond Road Allentown, PA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,354 SF fourth‑floor medical office condominium; Five exam rooms plus multiple consultation rooms; Executive offices and ADA‑compliant restrooms
