Turnkey Mixed-Use Income
For Sale
$575,000
507 Delaware Ave, Mount Bethel, PA 18343
Turnkey building with four residential units and an occupied storefront, all currently rented.
Property Size4,500 SF
Price / SF$127.78
Days on Market47
Property Features for 507 Delaware Ave
General Information
Standard status
Active
Size
4,500 SF
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Realty Solutions of Pa
Listed By:
Faith Sarisky
(610) 452-2722
Source:
Jennysoldmine
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 9 at 9:21PM
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 Realty Solutions of Pa
Investment Insights
Based on property information with market context.
This turnkey, income-producing property contains five total units, including three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a chocolate shop. The building is maintained with documented recent upgrades, including new electrical panel boxes in the three second-floor units, new flooring in the hall, upgraded lighting in the second-floor hallway, and installation of emergency lighting and illuminated exit signs. Additional work includes new electric service at the meter box, sewer pipes in the basement converted to PVC, installed missing GFCI outlets, and handrail and guard rail installations on front and rear/basement steps. Unit 2A was fully remodeled in 2022, and Unit 2C was also remodeled.
The property is described as offering views of the Delaware River and the walking bridge from the second floor, and it is located in Historic Portland.
With all units currently rented and long-term established tenants, the building presents a stabilized residential and retail mix, with approval for a facade improvement grant noted as potentially transferable to a new owner.
The property is described as offering views of the Delaware River and the walking bridge from the second floor, and it is located in Historic Portland.
With all units currently rented and long-term established tenants, the building presents a stabilized residential and retail mix, with approval for a facade improvement grant noted as potentially transferable to a new owner.
Key Highlights
- Income‑producing building with 5 total units: 4 residential apartments plus an occupied commercial storefront
- All units currently rented, including long‑term established tenants
- Residential layout: three 1‑bedroom units on the second floor and one 2‑bedroom unit on the first floor
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
$34,852
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
6.06%
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%
$697,040
$697.0K
Cap Rate 7%
$497,886
$497.9K
Cap Rate 9%
$387,244
$387.2K
Market Conditions
NOI Build-Up for 4,500 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
$54.0K $12.00/SF
− Vacancy
−$4.2K −$0.94/SF
EGI
$49.8K $11.06/SF
− OpEx
−$14.9K −$3.32/SF
NOI
$34.9K $7.74/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /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%
$697,040
Cap Rate 7%
$497,886
Cap Rate 9%
$387,244
Alternative Uses
Best Use
Retail
$497.9K
$435.7K – $580.9K
NOI $34,852 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$391.2K
$342.3K – $456.4K
NOI $27,383 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$853.5K
$746.8K – $995.8K
NOI $59,746 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 18343, PA
3,819
Population
1,879
Households
2
Avg Household Size
52
Median Age
32%
College-Educated
95%
High-School Grad
20.4 sq mi
ZIP Area
187
Density / Sq Mi
$79,861
Median Household Income
$49,784
Median Earnings
$1,179
Median Rent
$274,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey building with four residential units and an occupied storefront, all currently rented.
Where is this apartment building located?
The property is located at 507 Delaware Ave Mount Bethel, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Income‑producing building with 5 total units: 4 residential apartments plus an occupied commercial storefront; All units currently rented, including long‑term established tenants; Residential layout: three 1‑bedroom units on the second floor and one 2‑bedroom unit on the first floor
