Mixed-Use Property with Medical
For Sale
$617,000
42 North 3rd Street, Easton, PA 18042
Three-level building combines a medical office with two residential apartments and dedicated off-street parking.
Property Size4,189 SF
Days on Market8
Property Features for 42 North 3rd Street
General Information
Standard status
Active
Size
4,189 SF
Total Parking Spaces
8
Property subtype
Mixed Use
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Office Units
1
Taxes and HOA fees
Annual Taxes
$6,924
Building Details
Building Size
4,189 SF
Year Built
1920
Buildings
1
Stories
3
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
BHHS Paul Ford Easton
(610) 253-6123
Listed By:
Clay R. Mitman · License #RM046330A
Source:
Bhhspaulfordrealtors
Added: Jul 30
Changed: Aug 5
Last Checked: Aug 6 at 3:41AM
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 BHHS Paul Ford Easton
Investment Insights
Based on property information with market context.
This three-unit mixed-use building, constructed in 1920, places a professional medical office on the first floor with a reception and waiting area, nurse’s station, private physician’s office, four examination/operatories, half bath, and central air conditioning. The space is currently owner-occupied and is suited to medical, professional, or office use. Two residential apartments occupy the upper floors: the second level includes two bedrooms, one full bath, a living area, and a bay window, while the third floor offers one bedroom, one full bath, and a living room.
The property includes a separate parcel at 64 North Bank Street with seven off-street parking spaces, plus one additional space beside the main building. In total, the property provides eight off-street parking spaces in downtown Easton, near North Third Street. The residential units provide income-producing components alongside the first-floor commercial space.
The property includes a separate parcel at 64 North Bank Street with seven off-street parking spaces, plus one additional space beside the main building. In total, the property provides eight off-street parking spaces in downtown Easton, near North Third Street. The residential units provide income-producing components alongside the first-floor commercial space.
Key Highlights
- Three‑unit mixed‑use building with a first‑floor medical office and two upper‑floor apartments
- First‑floor office includes reception, nurse’s station, physician’s office, four examination/operatories, half bath, and central air
- Second‑floor apartment offers two bedrooms and one full bath
Financial Insights For Office B
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 | $62.8k | $15.00 |
| − Vacancy | −$4.9k | −$1.17 |
| EGI | $57.9k | $13.83 |
| − OpEx | −$14.5k | −$3.46 |
| NOI | $43.5k | $10.37 |
4,189 SF · lease $15.00/SF/yr · vacancy 7.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$620.7K
$543.1K – $724.2K
NOI $43,450 @ 7.0% cap · market cap 7.04%
Second Best
Mixed Use
$605.9K
$530.2K – $706.9K
NOI $42,414 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$794.5K
$695.2K – $927.0K
NOI $55,617 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 18042, PA
44,026
Population
17,932
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
1,992
Density / Sq Mi
$75,806
Median Household Income
$40,015
Median Earnings
$1,245
Median Rent
$205,900
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?
Mixed-use property - Three-level building combines a medical office with two residential apartments and dedicated off-street parking.
Where is this mixed-use property located?
The property is located at 42 North 3rd Street Easton, PA.
What is the asking price?
The asking price for this property is $617,000.
What are key features of this property?
This property features: Three‑unit mixed‑use building with a first‑floor medical office and two upper‑floor apartments; First‑floor office includes reception, nurse’s station, physician’s office, four examination/operatories, half bath, and central air; Second‑floor apartment offers two bedrooms and one full bath
