Mixed-Use Corner Restaurant
For Sale
$530,000
500 -504 W Gordon Street, Allentown, PA 18102
MULTI_FAMILY - Allentown City, PA
Property Size4,220 SF
Lot Size0.06 Acres
Price / SF$125.59
Days on Market47
Property Features for 500 -504 W Gordon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-MH
Parking
1
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
4th St to West on Gordon St.
Standard status
Active
APN
640712277558-1
Size
4,220 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5886
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Number of units
5
Listing Agency:
Century 21 Ramos Realty · Century 21 Real Estate
(610) 866-4423
Listed By:
Anthony Ramos · License #AB068035
(610) 866-4423
Added: Jun 17
Changed: Jul 1
Last Checked: Aug 2 at 5:06AM
MLS# 779164
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use corner property features a restaurant/pizzeria on the first floor and two residential apartments. The residential portion includes a 1-bedroom unit spread over two levels and a separate 3-bedroom apartment with hardwood floors and an updated tile bathroom. A large basement adds substantial storage space for both the business and the tenants. The building is set up with separate utilities for the commercial space and each residential unit, which can simplify management and expense tracking.
The property is located at 500–504 W Gordon Street in Allentown City, PA 18102 within Lehigh County. It is described as having strong street presence with convenient access to major routes, along with walking distance to a hospital and local amenities.
For buyers looking for multiple income streams, the combination of a street-facing, operating restaurant use and two separate apartments can support a mixed tenant and occupancy profile. The separate utility setup may also appeal to operators who prefer clearer cost separation between commercial and residential areas, while the basement storage helps accommodate both tenants and the restaurant’s needs.
The property is located at 500–504 W Gordon Street in Allentown City, PA 18102 within Lehigh County. It is described as having strong street presence with convenient access to major routes, along with walking distance to a hospital and local amenities.
For buyers looking for multiple income streams, the combination of a street-facing, operating restaurant use and two separate apartments can support a mixed tenant and occupancy profile. The separate utility setup may also appeal to operators who prefer clearer cost separation between commercial and residential areas, while the basement storage helps accommodate both tenants and the restaurant’s needs.
Key Highlights
- Mixed‑use corner property with an operating pizzeria/restaurant on the first floor
- Residential income includes 2 apartments: a 1‑bedroom, 2‑level unit and a 3‑bedroom apartment
- 3‑bedroom unit features hardwood floors and an updated tile bathroom
Financial Insights For Multifamily LT 5
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 | $68.4k | $16.20 |
| − Vacancy | −$5.1k | −$1.22 |
| EGI | $63.2k | $14.99 |
| − OpEx | −$19.0k | −$4.50 |
| NOI | $44.3k | $10.49 |
4,220 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$829.0K
$725.4K – $967.2K
NOI $58,033 @ 7.0% cap · market cap 10.95%
Second Best
Multifamily LT 5
$632.4K
$553.3K – $737.8K
NOI $44,266 @ 7.0% cap · market cap 8.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,424
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
$146,600
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Allentown, PA
Properties on Market for Mixed-use properties in Allentown
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 - Corner mixed-use building with an operating pizzeria below and two apartments above, with separate utilities.
Where is this mixed-use property located?
The property is located at 500 -504 W Gordon Street Allentown, PA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Mixed‑use corner property with an operating pizzeria/restaurant on the first floor; Residential income includes 2 apartments: a 1‑bedroom, 2‑level unit and a 3‑bedroom apartment; 3‑bedroom unit features hardwood floors and an updated tile bathroom
