Unique Mixed-Use Development
For Sale
$599,900
431 W Union Blvd, Bethlehem, PA 18018
Mixed-use property with development potential in North Bethlehem.
Property Size4,000 SF
Lot Size0.29 Acres
Price / SF$149.98
Days on Market222
Property Features for 431 W Union Blvd
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.29 Acres
Listing Agency:
Century 21 Ramos Realty
(484) 695-4887
Listed By:
Anthony Ramos · License #AB068035
(484) 695-4887
Source:
Exprealty
Added: Jan 2
Changed: Jul 6
Last Checked: Aug 12 at 12:10PM
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 Ramos Realty
Investment Insights
Based on property information with market context.
This commercial property, exceeding 4,000 sq. ft., is located in North Bethlehem. Previously used as a club/fraternal association, the property presents diverse potential for various uses and development opportunities, owing to its building and lot size. The main level features a spacious open area suitable for commercial space. The second floor includes multiple rooms and bathrooms. Additional features include a rear parking lot, a detached storage building, and a garage equipped with water and electric. A large side lot is also included. The building is currently under construction with plans for commercial space on the first floor, three one-bedroom apartments on the second floor, and a loft-style apartment on the third floor.
Key Highlights
- Over 4,000 sq. ft. commercial property with diverse potential uses.
- Located in North Bethlehem.
- Spacious open area on the main level suitable for commercial space.
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
$41,175
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
6.86%
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%
$823,500
$823.5K
Cap Rate 7%
$588,214
$588.2K
Cap Rate 9%
$457,500
$457.5K
Market Conditions
NOI Build-Up for 4,000 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
$72.0K $18.00/SF
− Vacancy
−$6.1K −$1.53/SF
EGI
$65.9K $16.47/SF
− OpEx
−$24.7K −$6.18/SF
NOI
$41.2K $10.29/SF
Area
Lehigh County, PA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$823,500
Cap Rate 7%
$588,214
Cap Rate 9%
$457,500
Alternative Uses
Best Use
Mixed Use
$588.2K
$514.7K – $686.3K
NOI $41,175 @ 7.0% cap · market cap 6.86%
Second Best
Retail
$389.5K
$340.8K – $454.4K
NOI $27,262 @ 7.0% cap · market cap 4.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,674
Businesses Nearby
Explore this area
Business Placement
Demographics for 18018, PA
32,388
Population
14,669
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,228
Density / Sq Mi
$71,968
Median Household Income
$43,471
Median Earnings
$1,261
Median Rent
$224,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with development potential in North Bethlehem.
Where is this mixed-use property located?
The property is located at 431 W Union Blvd Bethlehem, PA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Over 4,000 sq. ft. commercial property with diverse potential uses.; Located in North Bethlehem.; Spacious open area on the main level suitable for commercial space.
