Mixed-Use Property with
For Sale
$3,250,000
257 E Central Avenue, Bangor, PA 18013
ResidentialIncome, East Bangor Boro, PA
Property Size11,855 SF
Lot Size1.40 Acres
Price / SF$274.15
Days on Market143
Property Features for 257 E Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-2
Parking
176
Parking features
Garage, Off Street, Parking Lot
Subdivision
Not in Development
Elementary school district
Bangor
Middle school district
Bangor
High school district
Bangor
Directions
Please contact the listing agent for more information.
Standard status
Active
APN
D10SW2D4 1 0109
Size
11,855 SF
Lot size
1.40 Acres
Taxes and HOA fees
Tax Annual Amount
16220
Utilities
Sewer type
Septic Tank, Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2001
Number of units
5
Listing Agency:
Howard Hanna TheFrederickGroup
(610) 398-0411
Listed By:
Latidia D. Fisher
(610) 393-3846
Added: May 4
Changed: Sep 12
Last Checked: Sep 23 at 1:06AM
MLS# 776172
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.
This mixed-use property comprises two buildings totaling 11,855 square feet. The 2001 building contains a restaurant with seating for approximately 176 guests, a full commercial kitchen, ADA-compliant restrooms, and upper-level event space. The second building, constructed in 1900, includes an ice cream shop, offices, a three-bedroom apartment, flexible commercial areas, and garage bays with storage.
Property improvements include two nearly new Taylor soft-serve machines, commercial refrigeration, bakery equipment, dining furnishings, newer metal roofs, central air, and natural gas heating. Off-street parking, a garage, and a parking lot provide space for more than 150 vehicles. The property is served by public water and includes septic and public sewer systems. C-2 zoning supports its mixed-use commercial configuration.
Property improvements include two nearly new Taylor soft-serve machines, commercial refrigeration, bakery equipment, dining furnishings, newer metal roofs, central air, and natural gas heating. Off-street parking, a garage, and a parking lot provide space for more than 150 vehicles. The property is served by public water and includes septic and public sewer systems. C-2 zoning supports its mixed-use commercial configuration.
Key Highlights
- 11,855‑square‑foot mixed‑use property across two buildings
- Restaurant seats approximately 176 guests and includes a full commercial kitchen
- Second building includes an ice cream shop, offices, and a three‑bedroom apartment
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
$122,966
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
3.78%
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%
$2,459,320
$2.5M
Cap Rate 7%
$1,756,657
$1.8M
Cap Rate 9%
$1,366,289
$1.4M
Market Conditions
NOI Build-Up for 11,855 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
$177.8K $15.00/SF
− Vacancy
−$13.9K −$1.17/SF
EGI
$164.0K $13.83/SF
− OpEx
−$41.0K −$3.46/SF
NOI
$123.0K $10.37/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$15.00 /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%
$2,459,320
Cap Rate 7%
$1,756,657
Cap Rate 9%
$1,366,289
Alternative Uses
Best Use
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $122,966 @ 7.0% cap · market cap 3.78%
Second Best
Mixed Use
$1.71M
$1.50M – $2.00M
NOI $120,032 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,396 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 18013, PA
17,436
Population
7,401
Households
2.4
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
63.0 sq mi
ZIP Area
277
Density / Sq Mi
$76,116
Median Household Income
$37,107
Median Earnings
$1,088
Median Rent
$245,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial property with restaurant, event space, apartment, retail areas, and extensive parking.
Where is this mixed-use property located?
The property is located at 257 E Central Avenue Bangor, PA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 11,855‑square‑foot mixed‑use property across two buildings; Restaurant seats approximately 176 guests and includes a full commercial kitchen; Second building includes an ice cream shop, offices, and a three‑bedroom apartment
