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    2970 Corporate Ct Orefield, PA 18069

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    For Lease
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    Well-appointed office suites available near major routes.

    Type:Office
    Property size:
    13,500 SF
    Added:
    Apr 18, 2019
    Days on Market:
    2560
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 2970 Corporate Ct

    General Information

    Standard status
    Active
    Size
    13,500 SF
    Property subtype
    Office

    Building Details

    Year Built
    1996

    Spaces For Lease

    at 2970 Corporate Ct Contact us

    We can help!

    Listing Contact
    Tom Skeans, CCIM

    Listing agent Tom Skeans, CCIM License #PA RS273976

    Listing office SVN | Imperial Realty

    Listing date Apr 18, 2019

    Source Crexi

    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 SVN | Imperial Realty

    Overview

    Three-Story Office Building For Lease

    Located off Route 100, approximately 3 miles north of the Fogelsville exit of I-78/Route 22, 2970 Corporate Court is a 13,500 square foot, three-story office building. Neighboring businesses include New Tripoli Bank and other professional spaces. The property is conveniently located near Route 100 and the new 222 bypass, providing easy access to Routes 22, 78, 309, and the Northeast Extension of the Pennsylvania Turnpike. The building features superior construction and detailing, independent access suites, and distinctive interiors. Suites are available for lease on a full-service basis, with all taxes, insurance, and utilities included in the quoted lease rate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Maulfair Medical Center: ... Physician Cloud Mentor (Bike/Boat/Book/etc) Store Purely You Sauna ... Medical Clinic Allentown Comprehensive Treatment ... Medical Clinic Cura Hospitality Inc Nursing Home

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Hair Salon Nail Salon Hotel & Motel Skin Care Clinic Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Orefield
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.6605987
    Latitude
    40.6161608

    Nearby Similar for Lease

    • $17/mo

      Lowhill Twp Office Space Available

      Small office setup with easy parking in Lowhill Twp.
      2970 Corporate Court unit: 3, Lowhill Twp, PA 18069
      View Details
    • $16/mo

      Class A Office Space Available

      Office space for rent with utilities included near Route 78.
      2987 Corporate Court unit: 1, Lowhill Twp, PA 18069
      View Details
    • $12/mo

      Three-Story Office Building For Lease

      13,500 SF office building with superior construction and distinctive interiors.
      2970 Corporate Court, Orefield, PA 18069
      View Details
    • $12/mo

      Lowhill Twp Office Space Available

      Office space with built-in workstations and private offices for rent.
      2970 Corporate Court unit: 2, Lowhill Twp, PA 18069
      View Details
    • $14/mo

      Lowhill Twp Office Suite

      Office suite featuring private offices, kitchenette, and conference room.
      2970 Corporate Court unit: 5, Lowhill Twp, PA 18069
      View Details

    FAQs

    What type of property is this?
    Office building - Well-appointed office suites available near major routes.
    Where is this office building located?
    The property is located at 2970 Corporate Ct Orefield, PA.
    What are key features of this property?
    This property features: Convenient access to Routes 22, 78, 309, and the NE Extension of the PA Turnpike.; Enjoy a Full Serve lease, all taxes, insurance, and utilities included.; Superior construction and detailing throughout.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tom Skeans, CCIM
    Real Estate License ID: PA RS273976
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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