Mixed-Use Building with
For Sale
$550,000
507 Delaware Ave, Portland, PA 18351
Occupied residential and retail uses are combined within one income-producing property.
Property Size4,500 SF
Price / SF$122.22
Days on Market173
Property Features for 507 Delaware Ave
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,003
Listing Agency:
Realty Solutions of PA
(610) 452-2722
Listed By:
Faith M Sarisky
(610) 349-5059
Source:
Exprealty
Added: Apr 30
Changed: Oct 11
Last Checked: Oct 16 at 3:25PM
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
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Investment Insights
Based on property information with market context.
Located at 507 Delaware Ave in Portland, PA, this mixed-use property combines five occupied units with residential and retail components. The second floor contains three one-bedroom apartments with views toward the Delaware River and walking bridge. A two-bedroom apartment occupies the first floor, alongside a commercial storefront used by a chocolate shop.
Recent improvements include electrical panel replacements in the three second-floor apartments, upgraded electrical service at the meter, PVC sewer piping in the basement, hallway lighting upgrades, emergency lighting, illuminated exit signs, GFCI outlets, and added handrails and guard rails. Unit 2A received a full remodel in 2022, and Unit 2C was also remodeled. An approved facade improvement grant may transfer to a new owner.
Recent improvements include electrical panel replacements in the three second-floor apartments, upgraded electrical service at the meter, PVC sewer piping in the basement, hallway lighting upgrades, emergency lighting, illuminated exit signs, GFCI outlets, and added handrails and guard rails. Unit 2A received a full remodel in 2022, and Unit 2C was also remodeled. An approved facade improvement grant may transfer to a new owner.
Key Highlights
- Five occupied units: three one‑bedroom apartments, one two‑bedroom apartment, and one commercial storefront
- Second‑floor Delaware River and walking bridge views
- Commercial storefront currently used by a chocolate shop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,563
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,260
$911.3K
Cap Rate 7%
$650,900
$650.9K
Cap Rate 9%
$506,256
$506.3K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$81.0K $18.00/SF
− Vacancy
−$8.1K −$1.80/SF
EGI
$72.9K $16.20/SF
− OpEx
−$27.3K −$6.07/SF
NOI
$45.6K $10.13/SF
Area
Northampton County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,260
Cap Rate 7%
$650,900
Cap Rate 9%
$506,256
Alternative Uses
Best Use
Mixed Use
$650.9K
$569.5K – $759.4K
NOI $45,563 @ 7.0% cap · market cap 8.28%
Second Best
Retail
$497.9K
$435.7K – $580.9K
NOI $34,852 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$853.5K
$746.8K – $995.8K
NOI $59,746 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
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Business Placement
Demographics for 18351, PA
494
Population
295
Households
1.7
Avg Household Size
45
Median Age
12%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
1,647
Density / Sq Mi
$71,667
Median Household Income
$41,705
Median Earnings
$1,354
Median Rent
$258,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Occupied residential and retail uses are combined within one income-producing property.
Where is this mixed-use property located?
The property is located at 507 Delaware Ave Portland, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Five occupied units: three one‑bedroom apartments, one two‑bedroom apartment, and one commercial storefront; Second‑floor Delaware River and walking bridge views; Commercial storefront currently used by a chocolate shop
