Mixed-Use Building with Dry
For Sale
$399,000
229 S Robinson Ave, Pen Argyl, PA 18072
Operating dry cleaning business occupies the first floor, with a three-bedroom apartment above and GB zoning.
Property Size3,132 SF
Price / SF$127.39
Days on Market64
Property Features for 229 S Robinson Ave
General Information
Standard status
Active
Size
3,132 SF
Property subtype
Commercial
Zoning
GB
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Additional Details
Business Included
Yes
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
SER Commercial Real Estate, LLC
(570) 431-7400
Listed By:
Jace Tutty
Source:
Poconohomessearch
Added: Jun 27
Changed: Aug 28
Last Checked: Aug 28 at 12:22PM
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 SER Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines an operating dry cleaning business with residential space in a two-level building. The first floor contains the business operation, while the second floor provides a three-bedroom apartment that can support on-site living or residential rental use. The building contains 3,100 SF and was constructed in 1900.
Located at 229 S Robinson Ave in Pen Argyl, Pennsylvania, the property is zoned GB - General Business Commercial. The dry cleaning operation has served the region for more than 20 years, pairing an established commercial use with an apartment component in the same building. Showings are available to qualified buyers by appointment.
Located at 229 S Robinson Ave in Pen Argyl, Pennsylvania, the property is zoned GB - General Business Commercial. The dry cleaning operation has served the region for more than 20 years, pairing an established commercial use with an apartment component in the same building. Showings are available to qualified buyers by appointment.
Key Highlights
- Operating dry cleaning business included with the real estate
- 3,100 SF mixed‑use building with commercial and residential components
- Three‑bedroom apartment located on the second floor
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
$31,712
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
7.95%
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%
$634,240
$634.2K
Cap Rate 7%
$453,029
$453.0K
Cap Rate 9%
$352,356
$352.4K
Market Conditions
NOI Build-Up for 3,132 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
$56.4K $18.00/SF
− Vacancy
−$5.6K −$1.80/SF
EGI
$50.7K $16.20/SF
− OpEx
−$19.0K −$6.07/SF
NOI
$31.7K $10.13/SF
Area
Northampton County, PA
Vacancy
10.00%
Lease Rate
$18.00 /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%
$634,240
Cap Rate 7%
$453,029
Cap Rate 9%
$352,356
Alternative Uses
Best Use
Mixed Use
$453.0K
$396.4K – $528.5K
NOI $31,712 @ 7.0% cap · market cap 7.95%
Second Best
Retail
$346.5K
$303.2K – $404.3K
NOI $24,257 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$594.0K
$519.8K – $693.1K
NOI $41,583 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Beauty & Spa 9%
Turkey Hill Minit Market
Shops & Services
6,863 visits/mo
0.4 miles
Holiday Hair
Beauty & Spa
673 visits/mo
0.4 miles
Demographics for 18072, PA
6,734
Population
2,779
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
452
Density / Sq Mi
$79,067
Median Household Income
$41,056
Median Earnings
$1,525
Median Rent
$244,100
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?
Mixed-use property - Operating dry cleaning business occupies the first floor, with a three-bedroom apartment above and GB zoning.
Where is this mixed-use property located?
The property is located at 229 S Robinson Ave Pen Argyl, 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: Operating dry cleaning business included with the real estate; 3,100 SF mixed‑use building with commercial and residential components; Three‑bedroom apartment located on the second floor
