Mixed-Use Property with Grocery
For Sale
$1,300,000
247 N 7th St, Allentown, PA 18102
Fully occupied asset combines multifamily housing with an on-site grocery component.
Property Size7,870 SF
Price / SF$165.18
Days on Market12
Property Features for 247 N 7th St
General Information
Standard status
Active
Size
7,870 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,284
Listing Agency:
Allentown City Realty
(610) 570-3477
Listed By:
Kelvin Diaz
(610) 570-3477
Source:
Exprealty
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 29 at 11:33AM
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 Allentown City Realty
Investment Insights
Based on property information with market context.
This 7,870-square-foot mixed-use property contains seven total units, combining multifamily residences with a grocery store. The residential mix includes five two-bedroom apartments and one five-bedroom apartment, providing 15 bedrooms and seven bathrooms overall. Gas heat serves the property, which is fully rented.
The asset is positioned along Allentown’s 7th Street commercial corridor, an established area with restaurants, businesses, shopping, and everyday amenities nearby. Its combination of residential units and an operating grocery component creates a single property with both housing and commercial space.
The asset is positioned along Allentown’s 7th Street commercial corridor, an established area with restaurants, businesses, shopping, and everyday amenities nearby. Its combination of residential units and an operating grocery component creates a single property with both housing and commercial space.
Key Highlights
- 7,870‑square‑foot mixed‑use property with seven total units
- Residential mix includes five 2‑bedroom apartments and one 5‑bedroom apartment
- 15 bedrooms and 7 bathrooms across the property
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
$108,228
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
8.33%
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%
$2,164,560
$2.2M
Cap Rate 7%
$1,546,114
$1.5M
Cap Rate 9%
$1,202,533
$1.2M
Market Conditions
NOI Build-Up for 7,870 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
$151.1K $19.20/SF
− Vacancy
−$6.8K −$0.86/SF
EGI
$144.3K $18.34/SF
− OpEx
−$36.1K −$4.58/SF
NOI
$108.2K $13.75/SF
Area
Allentown, PA
Vacancy
4.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,164,560
Cap Rate 7%
$1,546,114
Cap Rate 9%
$1,202,533
Alternative Uses
Best Use
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,228 @ 7.0% cap · market cap 8.33%
Second Best
Retail
$1.38M
$1.21M – $1.62M
NOI $96,934 @ 7.0% cap · market cap 7.46%
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
3,650
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied asset combines multifamily housing with an on-site grocery component.
Where is this mixed-use property located?
The property is located at 247 N 7th St Allentown, PA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7,870‑square‑foot mixed‑use property with seven total units; Residential mix includes five 2‑bedroom apartments and one 5‑bedroom apartment; 15 bedrooms and 7 bathrooms across the property
