Historic Brick Office
For Sale
$399,000
2041 Lawfer Ave, Allentown, PA 18104
Historic brick office building with commercial-grade HVAC, accessible restrooms, and a flat rubber roof.
Property Size2,239 SF
Price / SF$178.20
Days on Market142
Property Features for 2041 Lawfer Ave
General Information
Standard status
Active
Size
2,239 SF
Zoning
R-4
Taxes and HOA fees
Annual Taxes
$3,971
Listing Agency:
JTR Real Estate
(610) 434-4786
Listed By:
Jeffrey T. Russell
(610) 434-4786
Source:
Exprealty
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 12 at 12:48PM
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 JTR Real Estate
Investment Insights
Based on property information with market context.
This historic brick office building offers an established office layout suited for professional use. The property includes handicap access and bathrooms, along with commercial-grade HVAC. There is also a workshop located in the basement and a bar area described for after-hours unwinding, supporting a range of office-adjacent functions within the building. The structure features a flat Carlisle rubber roof, contributing to long-term roof system continuity.
The building is described as being in a quiet neighborhood in Allentown and has a history that includes use as a fire station and magistrate’s office, as well as real estate offices. The property currently operates as office headquarters for a real estate business.
Zoning is R-4. The information provided notes that many uses may require a Special Exception from South Whitehall Township, so prospective owners or tenants should review use requirements early in the planning process. Overall, the building’s combination of accessibility features, HVAC capacity, and flexible interior areas may appeal to professional firms seeking a solid, long-standing office facility with on-site support spaces.
The building is described as being in a quiet neighborhood in Allentown and has a history that includes use as a fire station and magistrate’s office, as well as real estate offices. The property currently operates as office headquarters for a real estate business.
Zoning is R-4. The information provided notes that many uses may require a Special Exception from South Whitehall Township, so prospective owners or tenants should review use requirements early in the planning process. Overall, the building’s combination of accessibility features, HVAC capacity, and flexible interior areas may appeal to professional firms seeking a solid, long-standing office facility with on-site support spaces.
Key Highlights
- Historic brick office building with commercial‑grade HVAC and a flat Carlisle rubber roof
- Handicap access and handicap‑accessible bathrooms
- Zoned R‑4; many uses may require a Special Exception from South Whitehall Township
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
$12,155
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
3.05%
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%
$243,100
$243.1K
Cap Rate 7%
$173,643
$173.6K
Cap Rate 9%
$135,056
$135.1K
Market Conditions
NOI Build-Up for 2,239 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
$17.5K $7.80/SF
− Vacancy
−$1.3K −$0.56/SF
EGI
$16.2K $7.24/SF
− OpEx
−$4.1K −$1.81/SF
NOI
$12.2K $5.43/SF
Area
Allentown, PA
Vacancy
7.20%
Lease Rate
$7.80 /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%
$243,100
Cap Rate 7%
$173,643
Cap Rate 9%
$135,056
Alternative Uses
Best Use
Office B
$173.6K
$151.9K – $202.6K
NOI $12,155 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$439.9K
$384.9K – $513.2K
NOI $30,791 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
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?
Office building - Historic brick office building with commercial-grade HVAC, accessible restrooms, and a flat rubber roof.
Where is this office building located?
The property is located at 2041 Lawfer Ave Allentown, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Historic brick office building with commercial‑grade HVAC and a flat Carlisle rubber roof; Handicap access and handicap‑accessible bathrooms; Zoned R‑4; many uses may require a Special Exception from South Whitehall Township
