Two-Story Office
For Sale
$1,500,000
3708 Freemansburg Avenue, Bethlehem, PA 18020
Corner property with updated HVAC, a new roof, and first-floor office fit-out plans.
Property Size10,908 SF
Days on Market193
Property Features for 3708 Freemansburg Avenue
General Information
Standard status
Active
Size
10,908 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
10,908 SF
Year Built
1950
Listing Agency:
Feinberg Real Estate Advisors, LLC
(610) 709-6233
Listed By:
Cindy McDonnell Feinberg · License #RM423190
(610) 709-6233
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 7:13PM
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 Feinberg Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This 10,908-square-foot office building occupies two stories at the intersection of Freemansburg Avenue and Sculac Road. Updated architectural plans are available for a first-floor office fit-out, while building improvements include a new roof, updated HVAC, and a public sewer connection. The property was built in 1950.
The site provides access to New Jersey, Route 33, and Interstate 78. Services, restaurants, retail, and residential development are located nearby, along with St. Luke's and Lehigh Valley Health Network facilities in Bethlehem Township. The source information identifies potential applications including business or professional office use, dental or medical office space, retail, nursery school or day care, and restaurant use; permitted uses should be confirmed with the Bethlehem Township zoning office.
The site provides access to New Jersey, Route 33, and Interstate 78. Services, restaurants, retail, and residential development are located nearby, along with St. Luke's and Lehigh Valley Health Network facilities in Bethlehem Township. The source information identifies potential applications including business or professional office use, dental or medical office space, retail, nursery school or day care, and restaurant use; permitted uses should be confirmed with the Bethlehem Township zoning office.
Key Highlights
- 10,908‑square‑foot, two‑story office building
- Corner location at Freemansburg Avenue and Sculac Road
- Updated architectural plans for first‑floor office fit‑out
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
$79,653
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
5.31%
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%
$1,593,060
$1.6M
Cap Rate 7%
$1,137,900
$1.1M
Cap Rate 9%
$885,033
$885.0K
Market Conditions
NOI Build-Up for 10,908 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
$115.2K $10.56/SF
− Vacancy
−$9.0K −$0.82/SF
EGI
$106.2K $9.74/SF
− OpEx
−$26.6K −$2.43/SF
NOI
$79.7K $7.30/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$10.56 /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%
$1,593,060
Cap Rate 7%
$1,137,900
Cap Rate 9%
$885,033
Alternative Uses
Best Use
Office B
$1.14M
$995.7K – $1.33M
NOI $79,653 @ 7.0% cap · market cap 5.31%
Second Best
Healthcare Medical
$997.4K
$872.7K – $1.16M
NOI $69,817 @ 7.0% cap · market cap 4.65%
Theoretical Best
Mixed Use
$1.60M
$1.40M – $1.87M
NOI $112,284 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Explore this area
Business Placement
Demographics for 18020, PA
20,582
Population
7,940
Households
2.6
Avg Household Size
45
Median Age
42%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
1,583
Density / Sq Mi
$122,610
Median Household Income
$53,144
Median Earnings
$1,493
Median Rent
$348,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner property with updated HVAC, a new roof, and first-floor office fit-out plans.
Where is this office building located?
The property is located at 3708 Freemansburg Avenue Bethlehem, PA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10,908‑square‑foot, two‑story office building; Corner location at Freemansburg Avenue and Sculac Road; Updated architectural plans for first‑floor office fit‑out
