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    All-Brick Corner-Lot Industrial Building Title is generated by Realmo AI

    365 W Whitehall St, Allentown, PA 18102

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    For Sale
    $1,400,000

    Fully leased industrial building with dock-height access and multiple leased spaces for diversified tenant occupancy.

    Property size:
    15,844 SF
    Price / SF:
    $88/SF
    Added:
    May 12, 2025
    Days on Market:
    391
    Last Refresh:
    Jun 6 at 2:30 am

    Property Features for 365 W Whitehall St

    General Information

    Standard status
    Active
    Size
    15,844 SF

    We can help!

    Listing Contact
    Loren K. Keim Jr.
    Loren K. Keim Jr.

    Listing agent Loren K. Keim Jr. License #RB-045762-L

    Listing office CENTURY 21 Keim Realtors

    Listing date May 12, 2025

    Source Exprealty

    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 CENTURY 21 Keim Realtors

    HighLights

    • 15,467 SF all‑brick corner‑lot industrial building with dock‑height access and direct second‑floor dock access
    • 100% leased with a diversified tenant mix: first floor includes 3,500 SF, 2,000 SF, and 2,500 SF leased spaces; upper level leased to one tenant
    • $121,000 gross annual income reported
    • 14’ ceilings; suited for warehousing, wholesaling, light manufacturing, or storage
    • Secure, well‑maintained building with multiple leased spaces
    • Plans for an additional 8,000 SF expansion (subject to City approval)

    Overview

    This all-brick corner-lot industrial building is offered fully leased, with a layout designed for warehouse, distribution, wholesaling, light manufacturing, or storage use. The second floor is at dock height with direct access, supporting flexible logistics and material handling. On the first floor, the space is divided into three leased areas: 3,500 SF, 2,000 SF, and 2,500 SF. The upper level is leased to a single tenant.

    The property is positioned near Allentown’s Waterfront development, described as steps from the redevelopment and American Parkway, and within minutes of Route 22 and I-78. It is presented as a secure, well-maintained industrial asset with visibility associated with its corner-lot configuration.

    For buyers seeking an income-producing industrial investment, the offering includes 100% leased occupancy with stated gross annual income of $121,000. The tenant mix is described as diversified, and there is an owner-stated plan for an additional 8,000 SF expansion, subject to City approval, which may support future facility growth depending on permitting outcomes. The building’s configuration and dock-height access make it practical for operators that need straightforward logistics within a multi-tenant industrial setting.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $121.7k $7.68
    − Vacancy −$6.4k −$0.41
    EGI $115.2k $7.27
    − OpEx −$17.3k −$1.09
    NOI $97.9k $6.18
    15,844 SF · lease $7.68/SF/yr · vacancy 5.30% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $1.40M
    $1.22M – $1.63M (±1% cap)
    NOI $97,948 @ 7.0% cap · market cap 7.00%
    Second Best
    Industrial
    $1.02M
    $891.4K – $1.19M (±1% cap)
    NOI $71,309 @ 7.0% cap · market cap 5.09%
    Theoretical Best
    Specialty Retail
    $3.11M
    $2.72M – $3.63M (±1% cap)
    NOI $217,887 @ 7.0% cap · market cap 15.56%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Zami Printing (Bike/Boat/Book/etc) Store RDCARSHOW LLC Industrial Manufacturer ahuevo tacos Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • Azamin Storage Units — 719-723 Liberty St, Allentown, PA 18102
    • Capco Self Storage — 513 N 14th St, Allentown, PA 18102
    • Extra Storage LLC — 513 N 16th St, Allentown, PA 18102
    • Sbox Self Storage Units - Allentown PA — 115 N Ninth St, Allentown, PA 18102
    • Budget Store & Lock Self Storage — 1090 MacArthur Rd, Whitehall, PA 18052

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4704379
    Latitude
    40.6182865

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    FAQs

    What type of property is this?
    Warehouse - Fully leased industrial building with dock-height access and multiple leased spaces for diversified tenant occupancy.
    Where is this warehouse located?
    The property is located at 365 W Whitehall St Allentown, PA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: 15,467 SF all‑brick corner‑lot industrial building with dock‑height access and direct second‑floor dock access; 100% leased with a diversified tenant mix: first floor includes 3,500 SF, 2,000 SF, and 2,500 SF leased spaces; upper level leased to one tenant; $121,000 gross annual income reported
    (877) 208-4158
    We can help!
    Listing Contact
    Loren K. Keim Jr.
    Loren K. Keim Jr.
    Real Estate License ID: RB-045762-L
    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.

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