28-Unit Apartment
For Sale
$1,900,000
215 Quarry St, Whitehall, PA 18052
Historic industrial building planned for adaptive reuse as a multi-unit residential property.
Property Size27,720 SF
Price / SF$68.54
Days on Market49
Property Features for 215 Quarry St
General Information
Standard status
Active
Size
27,720 SF
Building Details
Year Built
1905
Listing Agency:
HowardHanna TheFrederickGroup
Listed By:
Doug Frederick
(610) 360-4993
Source:
Jennysoldmine
Added: Sep 14
Changed: Oct 26
Last Checked: Oct 7 at 1:02PM
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 HowardHanna TheFrederickGroup
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Investment Insights
Based on property information with market context.
Built in 1905, this 27,720-square-foot property is planned for conversion from a former sportswear manufacturing facility into a 28-unit apartment building. The proposed residential layout includes 10 one-bedroom apartments and 18 two-bedroom apartments, with 12-foot ceilings and large open areas that support the planned design.
The property is located at 215 Quarry St in Whitehall Township, Pennsylvania. The project includes plans for two parking spaces per apartment, along with a courtyard-oriented setting. The existing historic structure is positioned for a residential rehabilitation project that combines its original industrial character with a new apartment configuration. The planned scope includes completing the building permit application, paving the parking area, and building out the apartment improvements.
The property is located at 215 Quarry St in Whitehall Township, Pennsylvania. The project includes plans for two parking spaces per apartment, along with a courtyard-oriented setting. The existing historic structure is positioned for a residential rehabilitation project that combines its original industrial character with a new apartment configuration. The planned scope includes completing the building permit application, paving the parking area, and building out the apartment improvements.
Key Highlights
- 28‑unit apartment conversion project
- 27,720‑square‑foot building constructed in 1905
- Planned mix of 10 one‑bedroom and 18 two‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,934
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,238,680
$3.2M
Cap Rate 7%
$2,313,343
$2.3M
Cap Rate 9%
$1,799,267
$1.8M
Market Conditions
NOI Build-Up for 27,720 SF
Gross rent
$319.3K $11.52/SF
− Vacancy
−$24.9K −$0.90/SF
EGI
$294.4K $10.62/SF
− OpEx
−$132.5K −$4.78/SF
NOI
$161.9K $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 Rate 5%
$3,238,680
Cap Rate 7%
$2,313,343
Cap Rate 9%
$1,799,267
Alternative Uses
Best Use
Apartment 5plus
$2.31M
$2.02M – $2.70M
NOI $161,934 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$4.08M
$3.57M – $4.76M
NOI $285,343 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
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Business Placement
Demographics for 18052, PA
29,317
Population
12,193
Households
2.4
Avg Household Size
42
Median Age
27%
College-Educated
92%
High-School Grad
12.8 sq mi
ZIP Area
2,290
Density / Sq Mi
$69,499
Median Household Income
$39,491
Median Earnings
$1,387
Median Rent
$247,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic industrial building planned for adaptive reuse as a multi-unit residential property.
Where is this apartment building located?
The property is located at 215 Quarry St Whitehall, PA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 28‑unit apartment conversion project; 27,720‑square‑foot building constructed in 1905; Planned mix of 10 one‑bedroom and 18 two‑bedroom apartments
