Renovated Mixed-Use
For Sale
$850,000
449 N 10th St Unit 449, Allentown, PA 18102
Updated commercial storefront with three residential apartments and public utilities in Downtown Allentown.
Property Size4,807 SF
Price / SF$176.83
Days on Market47
Property Features for 449 N 10th St Unit 449
General Information
Standard status
Active
Size
4,807 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1885
Buildings
1
Tenancy
Multi
Listing Agency:
Real of Pennsylvania-Brodheadsville
(855) 450-0442
Listed By:
Heather Rai Schierloh · License #RS353453
Source:
Poconohomessearch
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 30 at 2:10AM
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 mixed-use property combines a street-level commercial storefront with three residential apartments in a renovated building. The residential component includes one one-bedroom unit and two two-bedroom units, with updated kitchens, remodeled bathrooms, luxury vinyl plank flooring, fresh finishes, and vinyl replacement windows. The commercial space occupies the main level and provides corner exposure for retail, office, or service-oriented use.
Constructed in 1885, the building contains 4,807 square feet of gross building area and has received interior and exterior renovations. Public water, public sewer, and natural gas serve the property. Its Downtown Allentown setting places the building near major highways, shopping, and restaurants, with floor plans available for each level.
Constructed in 1885, the building contains 4,807 square feet of gross building area and has received interior and exterior renovations. Public water, public sewer, and natural gas serve the property. Its Downtown Allentown setting places the building near major highways, shopping, and restaurants, with floor plans available for each level.
Key Highlights
- 4,807 SF mixed‑use building with one commercial storefront and three residential units
- Residential mix includes one 1‑bedroom apartment and two 2‑bedroom apartments
- Commercial space offers corner exposure for retail, office, or service 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
$59,207
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
6.97%
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%
$1,184,140
$1.2M
Cap Rate 7%
$845,814
$845.8K
Cap Rate 9%
$657,856
$657.9K
Market Conditions
NOI Build-Up for 4,807 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
$89.4K $18.60/SF
− Vacancy
−$4.8K −$1.00/SF
EGI
$84.6K $17.60/SF
− OpEx
−$25.4K −$5.28/SF
NOI
$59.2K $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%
$1,184,140
Cap Rate 7%
$845,814
Cap Rate 9%
$657,856
Alternative Uses
Best Use
Retail
$845.8K
$740.1K – $986.8K
NOI $59,207 @ 7.0% cap · market cap 6.97%
Second Best
Multifamily LT 5
$720.3K
$630.3K – $840.4K
NOI $50,423 @ 7.0% cap · market cap 5.93%
Theoretical Best
Specialty Retail
$944.4K
$826.3K – $1.10M
NOI $66,106 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
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?
Mixed-use property - Updated commercial storefront with three residential apartments and public utilities in Downtown Allentown.
Where is this mixed-use property located?
The property is located at 449 N 10th St Unit 449 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: 4,807 SF mixed‑use building with one commercial storefront and three residential units; Residential mix includes one 1‑bedroom apartment and two 2‑bedroom apartments; Commercial space offers corner exposure for retail, office, or service use
