Corner Restaurant with Two
500 504 W Gordon Street Allentown, PA 18102
500 504 W Gordon Street, Allentown, PA, 18102
$530,000
For Sale
$530,000
MULTI_FAMILY - Allentown City, PA
Property Size4,220 SF
Lot Size0.06 Acres
Price / SF$125.59
Days on Market46
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
- 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
- 3
Listing Agency
Century 21 Ramos Realty
(610) 866-4423
230 E 4th Street, Bethlehem, PA
Listed by
Anthony Ramos
(610) 866-4423
Added: Jun 2 Checked: Jul 17 at 5:06 pm
MLS# 778174
Listing URL
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 includes a restaurant pizzeria on the first floor and two apartments on the residential portion. The first residential unit is a 1-bedroom apartment arranged over two levels. The second unit is a well-maintained 3-bedroom apartment featuring hardwood floors and an updated tile bathroom. Separate utilities are provided for the commercial space and each residential unit, supporting straightforward, unit-by-unit expense tracking. A large basement offers storage space for both the restaurant operations and the tenants, adding practical room for equipment and household needs.
The property is located at 500 504 W Gordon Street in Allentown City, Lehigh County. Public remarks indicate strong street presence and corner visibility, along with convenient access to major routes. The location is described as within walking distance to a hospital and local amenities.
For tenants, buyers, or operators, the layout offers on-site food service with residential income in the same building, while the utility separation can help simplify management. The combination of an active restaurant space and two distinct apartment units may fit operators looking for a mixed-use setup with functional shared storage in a large basement.
The property is located at 500 504 W Gordon Street in Allentown City, Lehigh County. Public remarks indicate strong street presence and corner visibility, along with convenient access to major routes. The location is described as within walking distance to a hospital and local amenities.
For tenants, buyers, or operators, the layout offers on-site food service with residential income in the same building, while the utility separation can help simplify management. The combination of an active restaurant space and two distinct apartment units may fit operators looking for a mixed-use setup with functional shared storage in a large basement.
Key Highlights
- Mixed‑use corner property with an operating pizzeria/restaurant on the first floor and two apartment units upstairs
- Residential units include a 1‑bedroom, two‑level apartment and a 3‑bedroom apartment with hardwood floors and an updated tile bathroom
- Separate utilities available for the commercial space and each residential unit, helping streamline tracking of expenses
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Mixed-use corner property with an operating pizzeria/restaurant and two separate residential units above.
Where is this conventional restaurant 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 and two apartment units upstairs; Residential units include a 1‑bedroom, two‑level apartment and a 3‑bedroom apartment with hardwood floors and an updated tile bathroom; Separate utilities available for the commercial space and each residential unit, helping streamline tracking of expenses
