Historic Mixed-Use Commercial
For Sale
$950,000
22 S Main Street, Allentown, NJ 08501
Charming 1810 brick building in Allentown's Historic District.
Property Size2,948 SF
Price / SF$322.25
Days on Market176
Property Features for 22 S Main Street
General Information
Standard status
Active
Size
2,948 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
ERA Central Realty Group
(732) 598-5850
Listed By:
Stefania Fernandes · License #1329597
(833) 740-1234
Source:
Actionplusrealty
Added: Mar 10
Changed: Aug 31
Last Checked: Aug 31 at 8:25PM
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 ERA Central Realty Group
Investment Insights
Based on property information with market context.
This beautiful brick-front commercial building, constructed in 1810, is situated in the heart of Allentown Borough's Historic District. The property features four entry doors, front and back staircases, and a flexible layout. Currently, the building houses three tenants, with space available for another. The existing tenants include a well-established florist shop on the lower level and a wax and spa business on the upper level. Storage space is available in the two attic spaces, the full basement, and a shed. Approximately 15 parking spaces are located behind the building. The front entrance features a grand front hall with a stunning floating staircase that rises to the third floor. The interior boasts tall ceilings, wide rooms, finished floors, original weight and chain windows, a set of pocket doors, and three carved fireplace mantles, creating warmth and character. The second floor includes a kitchen equipped with a refrigerator, dishwasher, microwave, and sink. There are two half bathrooms on the lower level and one full bathroom on the upper level. The roof, electrical panel, and furnace/HVAC system were replaced in 2012, while the railings and side porch were redone in 2025. The property offers a blend of old-world beauty and everyday convenience and is close to major highways. The building size is 2948 square feet.
Key Highlights
- Historic brick‑front building (circa 1810) in Allentown Borough's Historic District.
- Currently houses 3 tenants with space for a fourth, providing immediate income potential.
- Approximately 15 parking spaces available behind the building.
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
$39,798
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
4.19%
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%
$795,960
$796.0K
Cap Rate 7%
$568,543
$568.5K
Cap Rate 9%
$442,200
$442.2K
Market Conditions
NOI Build-Up for 2,948 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
$70.8K $24.00/SF
− Vacancy
−$7.1K −$2.40/SF
EGI
$63.7K $21.60/SF
− OpEx
−$23.9K −$8.10/SF
NOI
$39.8K $13.50/SF
Area
Monmouth County, NJ
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$795,960
Cap Rate 7%
$568,543
Cap Rate 9%
$442,200
Alternative Uses
Best Use
Mixed Use
$568.5K
$497.5K – $663.3K
NOI $39,798 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$769.8K
$673.6K – $898.1K
NOI $53,885 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 08501, NJ
6,574
Population
2,495
Households
2.6
Avg Household Size
46
Median Age
60%
College-Educated
96%
High-School Grad
27.2 sq mi
ZIP Area
242
Density / Sq Mi
$133,015
Median Household Income
$71,700
Median Earnings
$1,457
Median Rent
$530,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Charming 1810 brick building in Allentown's Historic District.
Where is this mixed-use property located?
The property is located at 22 S Main Street Allentown, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Historic brick‑front building (circa 1810) in Allentown Borough's Historic District.; Currently houses 3 tenants with space for a fourth, providing immediate income potential.; Approximately 15 parking spaces available behind the building.
