Building Details

Building Size 3,132 SF

Year Built 1900

Buildings 1

Stories 2

Listing Agency: SER Commercial Real Estate, LLC

Listed By: Jace Tutty Show Phone

Source: Sawcreek

Added: Jul 8 Changed: Oct 31 Last Checked: Oct 31 at 3:34AM

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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

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Investment Insights

Based on property information with market context.

This 3,132-square-foot mixed-use property in Pen Argyl, Pennsylvania, combines an operating dry cleaning business on the ground floor with a three-bedroom apartment on the second level. The building dates to 1900 and is zoned GB - General Business Commercial. The dry cleaning operation has served the region for more than 20 years.

Key Highlights

• 3,132‑square‑foot mixed‑use building
• Operating dry cleaning business on the first floor
• Three‑bedroom apartment on the second level

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,712

Cap Rate

7.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$634,240 $634.2K

Cap Rate 7%

$453,029 $453.0K

Cap Rate 9%

$352,356 $352.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,132 SF

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 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 (±1% cap)

NOI $31,712 @ 7.0% cap · market cap 7.95%

Second Best

Retail

$346.5K

$303.2K – $404.3K (±1% cap)

NOI $24,257 @ 7.0% cap · market cap 6.08%

Theoretical Best

Office A

$594.0K

$519.8K – $693.1K (±1% cap)

NOI $41,583 @ 7.0% cap · market cap 10.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

On the Spot Dry Cleaners (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Dental Office Law Firm (Bike/Boat/Book/etc) Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A ground-floor dry cleaning business occupies the same building as a three-bedroom apartment upstairs.

Where is this mixed-use property located?

The property is located at 229 S Robinson Avenue 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: 3,132‑square‑foot mixed‑use building; Operating dry cleaning business on the first floor; Three‑bedroom apartment on the second level