Multi-Tenant Office
For Sale
$1,100,000
187 Main St, Emmaus, PA 18049
Village Centre Office Building offers multiple office spaces across three levels with shared restrooms and select units with kitchenette.
Property Size12,414 SF
Price / SF$88.61
Days on Market48
Property Features for 187 Main St
General Information
Standard status
Active
Size
12,414 SF
Additional Details
Office Units
22
Amenities
conference room
marketing screen
kitchenette
security cameras
parking lot
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Assist 2 Sell Buyers & Sellers Realty, LLC
Listed By:
Robert McCann
(610) 837-7900
Source:
Kandorre
Added: Jul 21
Changed: Aug 12
Last Checked: Sep 5 at 11:18AM
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 Assist 2 Sell Buyers & Sellers Realty, LLC
Investment Insights
Based on property information with market context.
The Village Centre Office Building features 22 office spaces arranged across three levels, with two restrooms on each level. A kitchenette is available for tenants on the second floor, and the building includes two conference rooms along with a marketing screen in the foyer. Recent upgrades include security cameras, a new blacktop parking lot, and parking lot curbing.
Landlord-managed common areas include hallways, bathrooms, and conference rooms. Most units are served by common building AC/heat, while some units have their own HVAC and an electric meter that the tenant pays.
The property is offered for sale as a multi-tenant office building with common area and conference room support in place.
Landlord-managed common areas include hallways, bathrooms, and conference rooms. Most units are served by common building AC/heat, while some units have their own HVAC and an electric meter that the tenant pays.
The property is offered for sale as a multi-tenant office building with common area and conference room support in place.
Key Highlights
- Village Centre Office Building built in 1900 with office space across three levels
- 22 office spaces with two restrooms on each of the three levels, plus a kitchenette for tenants on the second floor
- Includes 2 conference rooms and a marketing screen in the foyer
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
$90,650
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
8.24%
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%
$1,813,000
$1.8M
Cap Rate 7%
$1,295,000
$1.3M
Cap Rate 9%
$1,007,222
$1.0M
Market Conditions
NOI Build-Up for 12,414 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
$131.1K $10.56/SF
− Vacancy
−$10.2K −$0.82/SF
EGI
$120.9K $9.74/SF
− OpEx
−$30.2K −$2.43/SF
NOI
$90.7K $7.30/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$10.56 /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%
$1,813,000
Cap Rate 7%
$1,295,000
Cap Rate 9%
$1,007,222
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,650 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$1.83M
$1.60M – $2.13M
NOI $127,787 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
687
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Village Centre Office Building offers multiple office spaces across three levels with shared restrooms and select units with kitchenette.
Where is this office units located?
The property is located at 187 Main St Emmaus, PA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Village Centre Office Building built in 1900 with office space across three levels; 22 office spaces with two restrooms on each of the three levels, plus a kitchenette for tenants on the second floor; Includes 2 conference rooms and a marketing screen in the foyer
