Mixed-Use Building with
New
For Sale
$475,000
2116 Coke Works Road, Bethlehem, PA 18015
Multi-level property combines residential apartments, commercial suites, and a detached garage at a prominent corner location.
Property Size5,544 SF
Days on Market4
Property Features for 2116 Coke Works Road
General Information
Standard status
Active
Size
5,544 SF
Total Parking Spaces
2
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,922
Building Details
Building Size
5,544 SF
Year Built
1930
Buildings
1
Listing Agency:
Weichert Realtors
Listed By:
Anna Ames
(610) 762-9331
Source:
Bhhspaulfordrealtors
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 7 at 8:58AM
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 Weichert Realtors
Investment Insights
Based on property information with market context.
Built in 1930, this multi-level mixed-use property contains six units: three residential apartments and three commercial spaces. All three apartments and one commercial suite are currently rented, while two first-floor commercial spaces remain available. A detached two-car garage is also included.
The property occupies a corner position on Coke Works Road in Bethlehem City, off Route 412 and near Route 78. Its location places the building between South Side Bethlehem and downtown Hellertown, providing access to both residential and commercial areas.
The property occupies a corner position on Coke Works Road in Bethlehem City, off Route 412 and near Route 78. Its location places the building between South Side Bethlehem and downtown Hellertown, providing access to both residential and commercial areas.
Key Highlights
- Six‑unit mixed‑use property with 3 residential apartments and 3 commercial spaces
- All 3 residential apartments and 1 commercial space are currently rented
- Two first‑floor commercial spaces are available for rent
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
$32,387
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
6.82%
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%
$647,740
$647.7K
Cap Rate 7%
$462,671
$462.7K
Cap Rate 9%
$359,856
$359.9K
Market Conditions
NOI Build-Up for 5,544 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
$63.9K $11.52/SF
− Vacancy
−$5.0K −$0.90/SF
EGI
$58.9K $10.62/SF
− OpEx
−$26.5K −$4.78/SF
NOI
$32.4K $5.84/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
45.00%
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%
$647,740
Cap Rate 7%
$462,671
Cap Rate 9%
$359,856
Alternative Uses
Best Use
Mixed Use
$815.3K
$713.4K – $951.2K
NOI $57,069 @ 7.0% cap · market cap 12.01%
Second Best
Apartment 5plus
$462.7K
$404.8K – $539.8K
NOI $32,387 @ 7.0% cap · market cap 6.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-level property combines residential apartments, commercial suites, and a detached garage at a prominent corner location.
Where is this mixed-use property located?
The property is located at 2116 Coke Works Road Bethlehem, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Six‑unit mixed‑use property with 3 residential apartments and 3 commercial spaces; All 3 residential apartments and 1 commercial space are currently rented; Two first‑floor commercial spaces are available for rent
