Six-Level Restaurant with Rooftop
For Sale
$2,399,000
22 N 6th Street, Allentown, PA 18101
CommercialSale, Allentown City, PA
Property Size21,318 SF
Lot Size0.09 Acres
Price / SF$112.53
Days on Market1134
Property Features for 22 N 6th Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B-2
Parking features
Offsite
Security features
Security
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Route 22 to Route 145 South/MacArthur Rd toward 7th St; turn Left onto Hamilton St, Left onto N 6th St. Building will be on the left.
Subdivision
Allentown-Central
Standard status
Active
APN
640710474906 001
Size
21,318 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
83168
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2010
Building materials
Masonry
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
James J. Balliet · License #PA RS227612L
(610) 435-1800
Added: Jul 17, 2023
Changed: Aug 19
Last Checked: Aug 23 at 1:06PM
MLS# 720727
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.
Located at 22 N 6th Street in Allentown, this six-level restaurant and event facility contains 21,318 square feet on a 0.089-acre parcel. The property includes a glass rooftop bar and was constructed in 2010 with masonry materials. Its configuration supports restaurant, catering, conference, and event functions as described in the property information.
Building systems include central air conditioning and natural-gas heating. Public water and public sewer serve the property, while parking is provided offsite. The asset is identified as B-2 zoning and is positioned in Allentown City, Lehigh County, Pennsylvania, within ZIP code 18101.
Building systems include central air conditioning and natural-gas heating. Public water and public sewer serve the property, while parking is provided offsite. The asset is identified as B-2 zoning and is positioned in Allentown City, Lehigh County, Pennsylvania, within ZIP code 18101.
Key Highlights
- Six‑level restaurant and event facility with 21,318 square feet
- Glass rooftop bar included in the building configuration
- Constructed in 2010 with masonry construction
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
$95,946
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
4.00%
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%
$1,918,920
$1.9M
Cap Rate 7%
$1,370,657
$1.4M
Cap Rate 9%
$1,066,067
$1.1M
Market Conditions
NOI Build-Up for 21,318 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
$145.8K $6.84/SF
− Vacancy
−$8.7K −$0.41/SF
EGI
$137.1K $6.43/SF
− OpEx
−$41.1K −$1.93/SF
NOI
$95.9K $4.50/SF
Area
Allentown, PA
Vacancy
6.00%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
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%
$1,918,920
Cap Rate 7%
$1,370,657
Cap Rate 9%
$1,066,067
Alternative Uses
Best Use
Specialty Retail
$4.19M
$3.66M – $4.89M
NOI $293,165 @ 7.0% cap · market cap 12.22%
Second Best
Industrial
$1.37M
$1.20M – $1.60M
NOI $95,946 @ 7.0% cap · market cap 4.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,427
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Apparel 7%
7-Eleven
Shops & Services
14,046 visits/mo
0.1 miles
Family Dollar
Shops & Services
7,924 visits/mo
0.2 miles
Chase Bank
Shops & Services
3,319 visits/mo
0.0 miles
DTLR/VILLA
Apparel
1,154 visits/mo
0.2 miles
Rainbow
Apparel
993 visits/mo
0.2 miles
Demographics for 18101, PA
5,108
Population
2,686
Households
1.9
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
0.3 sq mi
ZIP Area
17,027
Density / Sq Mi
$41,542
Median Household Income
$34,397
Median Earnings
$1,337
Median Rent
$153,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-2-zoned restaurant property with central air, public water and sewer, and offsite parking.
Where is this conventional restaurant located?
The property is located at 22 N 6th Street Allentown, PA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Six‑level restaurant and event facility with 21,318 square feet; Glass rooftop bar included in the building configuration; Constructed in 2010 with masonry construction
