Updated Office/Medical
For Sale
$349,900
449 W Linden St, Allentown, PA 18102
Move-in-ready office and medical-use building with private rear parking and flexible suite layout.
Property Size3,108 SF
Price / SF$112.58
Days on Market94
Property Features for 449 W Linden St
General Information
Standard status
Active
Size
3,108 SF
Total Parking Spaces
6
Building Details
Year Built
1875
Stories
2
Listing Agency:
CENTURY 21 Keim Realtors
Listed By:
Loren K. Keim Jr. · License #RM420221
(877) 208-4158
Source:
Jennysoldmine
Added: Jun 16
Changed: Sep 8
Last Checked: Sep 17 at 1:13AM
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 CENTURY 21 Keim Realtors
Investment Insights
Based on property information with market context.
This updated office/medical building is designed for professional and client-facing operations, with a flexible layout that supports both private offices and service areas. The first floor includes a reception area with a built-in counter, a comfortable waiting area, a spacious conference room or treatment space, a large open work area, a private office, and a restroom. The second floor provides five private offices or treatment rooms, an additional open work area, and a second restroom. Property features include central air conditioning, attractive hardwood floors, and fresh paint.
Located in the heart of Allentown’s business, legal, and professional district, the building offers convenient downtown access and a practical parking setup. A private rear parking lot includes 5–6 dedicated spaces, with additional on-street parking for clients, patients, and staff. The property is one block from the Lehigh County Courthouse and Lehigh County Jail and is directly across from the Baum School of Art.
Most recently used as a chiropractic clinic and previously occupied by a law office, the building’s configuration lends itself to a range of tenants including medical, wellness, legal, accounting, consulting, and other professional services. With its patient/client reception areas, multiple treatment or office rooms, and second-floor space for additional staff or services, it can support both established practices and growing teams seeking a downtown, move-in-ready facility.
Located in the heart of Allentown’s business, legal, and professional district, the building offers convenient downtown access and a practical parking setup. A private rear parking lot includes 5–6 dedicated spaces, with additional on-street parking for clients, patients, and staff. The property is one block from the Lehigh County Courthouse and Lehigh County Jail and is directly across from the Baum School of Art.
Most recently used as a chiropractic clinic and previously occupied by a law office, the building’s configuration lends itself to a range of tenants including medical, wellness, legal, accounting, consulting, and other professional services. With its patient/client reception areas, multiple treatment or office rooms, and second-floor space for additional staff or services, it can support both established practices and growing teams seeking a downtown, move-in-ready facility.
Key Highlights
- 1875‑built office/medical‑use building with move‑in‑ready layout and recent updates
- Private rear parking lot with 5–6 dedicated spaces, plus abundant on‑street parking
- Central air conditioning, hardwood floors, and fresh paint throughout
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
$27,200
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
7.77%
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%
$544,000
$544.0K
Cap Rate 7%
$388,571
$388.6K
Cap Rate 9%
$302,222
$302.2K
Market Conditions
NOI Build-Up for 3,108 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
$48.5K $15.60/SF
− Vacancy
−$3.2K −$1.01/SF
EGI
$45.3K $14.59/SF
− OpEx
−$18.1K −$5.83/SF
NOI
$27.2K $8.75/SF
Area
Allentown, PA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
40.00%
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%
$544,000
Cap Rate 7%
$388,571
Cap Rate 9%
$302,222
Alternative Uses
Best Use
Healthcare Medical
$388.6K
$340.0K – $453.3K
NOI $27,200 @ 7.0% cap · market cap 7.77%
Second Best
Office B
$241.0K
$210.9K – $281.2K
NOI $16,873 @ 7.0% cap · market cap 4.82%
Theoretical Best
Specialty Retail
$610.6K
$534.3K – $712.4K
NOI $42,741 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,315
Businesses Nearby
Under-served
Demand for This Use
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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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in-ready office and medical-use building with private rear parking and flexible suite layout.
Where is this medical office space located?
The property is located at 449 W Linden St Allentown, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1875‑built office/medical‑use building with move‑in‑ready layout and recent updates; Private rear parking lot with 5–6 dedicated spaces, plus abundant on‑street parking; Central air conditioning, hardwood floors, and fresh paint throughout
