Renovated Mixed-Use
For Sale
$480,000
438 North 7th Street, Allentown, PA 18102
Three-unit property combining residential apartments with ground-floor commercial space and rear parking.
Property Size2,878 SF
Days on Market445
Property Features for 438 North 7th Street
General Information
Standard status
Active
Size
2,878 SF
Property subtype
Mixed Use
Property Condition
Severity
Repairs Needed
Evidence
still require finishing touches
Units
Unit Mix
1 x 1BR studio, 1 x 2BR
Multifamily Units
2
Additional Details
Floor
Ground
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,990
Amenities
private restroom
kitchenette
storage
rear parking
Building Details
Building Size
2,878 SF
Year Built
1843
Year Renovated
2020
Buildings
1
Listing Agency:
Keller Williams Allentown
Listed By:
Ayon A. Codner · License #RS324477
(610) 435-1800
Source:
Bhhspaulfordrealtors
Added: Aug 7, 2025
Changed: Oct 24
Last Checked: Oct 25 at 12:13AM
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 Allentown
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Investment Insights
Based on property information with market context.
This 2,878-square-foot mixed-use property contains three units: a ground-level commercial space of approximately 800 SF and two apartments. The retail component includes a private restroom, kitchenette, and storage area. One apartment has one bedroom, while the other offers two bedrooms with separate living and dining rooms. The two-bedroom unit is tenant-occupied with approximately four months remaining on its lease.
Renovation work was completed in 2020, including updates to the electrical and plumbing systems. Rear parking is included, and approved plans are in place for an ADA ramp serving the commercial space. The retail unit and select areas still require finishing work, with the seller offering either completion of the remaining improvements or an as-is transaction.
Renovation work was completed in 2020, including updates to the electrical and plumbing systems. Rear parking is included, and approved plans are in place for an ADA ramp serving the commercial space. The retail unit and select areas still require finishing work, with the seller offering either completion of the remaining improvements or an as-is transaction.
Key Highlights
- Three‑unit mixed‑use property with two apartments and one ground‑level commercial space
- 2,878 SF building renovated in 2020
- Approximately 800 SF retail unit with private restroom, kitchenette, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,448
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,960
$709.0K
Cap Rate 7%
$506,400
$506.4K
Cap Rate 9%
$393,867
$393.9K
Market Conditions
NOI Build-Up for 2,878 SF
Gross rent
$53.5K $18.60/SF
− Vacancy
−$2.9K −$1.00/SF
EGI
$50.6K $17.60/SF
− OpEx
−$15.2K −$5.28/SF
NOI
$35.4K $12.32/SF
Area
Allentown, PA
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,960
Cap Rate 7%
$506,400
Cap Rate 9%
$393,867
Alternative Uses
Best Use
Retail
$506.4K
$443.1K – $590.8K
NOI $35,448 @ 7.0% cap · market cap 7.39%
Second Best
Mixed Use
$401.5K
$351.3K – $468.4K
NOI $28,104 @ 7.0% cap · market cap 5.85%
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 authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,349
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit property combining residential apartments with ground-floor commercial space and rear parking.
Where is this mixed-use property located?
The property is located at 438 North 7th Street 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: Three‑unit mixed‑use property with two apartments and one ground‑level commercial space; 2,878 SF building renovated in 2020; Approximately 800 SF retail unit with private restroom, kitchenette, and storage
