Turnkey Triplex with Corner
For Sale
$850,000
449-449 N 10th St, Allentown, PA 18102
Fully renovated triplex with a highly visible corner storefront on the first level and three modern residential units above.
Property Size3,618 SF
Price / SF$234.94
Days on Market59
Property Features for 449-449 N 10th St
General Information
Standard status
Active
Size
3,618 SF
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$5,911
Building Details
Year Built
1885
Listing Agency:
Real of Pennsylvania-Brodheadsville
(855) 450-0442
Listed By:
Heather Rai Schierloh · License #RS353453
(570) 977-0770
Source:
Exprealty
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 15 at 2:17PM
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 Real of Pennsylvania-Brodheadsville
Investment Insights
Based on property information with market context.
This fully renovated triplex includes one highly visible commercial storefront on the main level and three modern residential rental units above. The residential portion consists of one 1-bedroom apartment and two 2-bedroom apartments, each with remodeled kitchens and bathrooms, luxury vinyl plank flooring, fresh finishes, and vinyl replacement windows.
Originally built in 1885 and fully renovated interior and exterior, the property offers over 4,000 square feet of gross building area. The street-level commercial space provides corner visibility and exposure suitable for retail, office, or service-based businesses. Public water, public sewer, and natural gas are available.
Floor plans for each level are included for convenience, supporting review of the commercial storefront and each residential unit layout.
Originally built in 1885 and fully renovated interior and exterior, the property offers over 4,000 square feet of gross building area. The street-level commercial space provides corner visibility and exposure suitable for retail, office, or service-based businesses. Public water, public sewer, and natural gas are available.
Floor plans for each level are included for convenience, supporting review of the commercial storefront and each residential unit layout.
Key Highlights
- One commercial storefront on the main level plus three residential units above
- Residential mix: one 1‑bedroom and two 2‑bedroom apartments
- Corner visibility for retail, office, or service‑based use
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
$44,563
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
5.24%
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%
$891,260
$891.3K
Cap Rate 7%
$636,614
$636.6K
Cap Rate 9%
$495,144
$495.1K
Market Conditions
NOI Build-Up for 3,618 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
$67.3K $18.60/SF
− Vacancy
−$3.6K −$1.00/SF
EGI
$63.7K $17.60/SF
− OpEx
−$19.1K −$5.28/SF
NOI
$44.6K $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 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%
$891,260
Cap Rate 7%
$636,614
Cap Rate 9%
$495,144
Alternative Uses
Best Use
Retail
$636.6K
$557.0K – $742.7K
NOI $44,563 @ 7.0% cap · market cap 5.24%
Second Best
Multifamily LT 5
$542.2K
$474.4K – $632.5K
NOI $37,951 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$710.8K
$621.9K – $829.3K
NOI $49,755 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,777
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated triplex with a highly visible corner storefront on the first level and three modern residential units above.
Where is this triplex located?
The property is located at 449-449 N 10th St Allentown, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: One commercial storefront on the main level plus three residential units above; Residential mix: one 1‑bedroom and two 2‑bedroom apartments; Corner visibility for retail, office, or service‑based use
