Renovated Mixed-Use Building with
438 N 7th St Allentown, PA 18102
For Sale
$480,000
Renovated three-unit mixed-use property with ground-level commercial space and two residential units, plus rear parking.
Property Size2,878 SF
Price / SF$166.78
Days on Market351
Property Features for 438 N 7th St
General Information
- Standard status
- Active
- Size
- 2,878 SF
Listing Agency:
Keller Williams Real Estate - Allentown
(954) 895-9439
Listed By:
Ayon A Codner · License #RS324477
(954) 895-9439
Source:
Exprealty
Added: Aug 11, 2025
Changed: Jul 21
Last Checked: Jul 26 at 10:51PM
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 Keller Williams Real Estate - Allentown
Investment Insights
Based on property information with market context.
This fully renovated mixed-use building offers three income-producing units, including two residential apartments and one ground-level retail/commercial space. Unit 1 is approximately 800 SF and includes a private restroom, kitchenette, and generous storage, suited for an owner-occupant or for leasing. Unit 2 is a one-bedroom studio apartment, and Unit 3 is a two-bedroom apartment with separate living and dining rooms and is currently tenant-occupied with approximately four months remaining on the lease. Renovations in 2020 included updated electrical and plumbing systems throughout.
The property also includes rear parking and approved plans for an ADA ramp to the commercial space. Some finishing touches are still required in the retail unit and select portions of the property; the seller is open to completing the remaining work or selling as-is at a more favorable price.
The property also includes rear parking and approved plans for an ADA ramp to the commercial space. Some finishing touches are still required in the retail unit and select portions of the property; the seller is open to completing the remaining work or selling as-is at a more favorable price.
Key Highlights
- Renovated three‑unit mixed‑use building with 2 residential units plus 1 ground‑level retail/commercial space
- Unit 1 offers approx. 800 SF commercial/retail with a private restroom, kitchenette, and generous storage
- Unit 2 is a one‑bedroom studio apartment for rental income
Financial Insights For Retail
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 | $53.5k | $18.60 |
| − Vacancy | −$2.9k | −$1.00 |
| EGI | $50.6k | $17.60 |
| − OpEx | −$15.2k | −$5.28 |
| NOI | $35.4k | $12.32 |
2,878 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$506.4K
$443.1K – $590.8K
NOI $35,448 @ 7.0% cap · market cap 7.39%
Second Best
Multifamily LT 5
$431.3K
$377.4K – $503.2K
NOI $30,189 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$565.4K
$494.7K – $659.6K
NOI $39,578 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Mixed-use property - Renovated three-unit mixed-use property with ground-level commercial space and two residential units, plus rear parking.
Where is this mixed-use property located?
The property is located at 438 N 7th St Allentown, PA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Renovated three‑unit mixed‑use building with 2 residential units plus 1 ground‑level retail/commercial space; Unit 1 offers approx. 800 SF commercial/retail with a private restroom, kitchenette, and generous storage; Unit 2 is a one‑bedroom studio apartment for rental income
