Mixed-Use Multifamily and
507 Delaware Avenue, Portland, PA 18351
MULTI_FAMILY - Portland, PA
Property size:
5,500 SFLot size:
0.08 AcresPrice / SF:
$104/SF- Added:
- Apr 30, 2026
- Days on Market:
- 48
- Last Refresh:
- Jun 16 at 5:06 pm
Property Features for 507 Delaware Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 2, Bathroom 4, Bathroom 3, Bathroom 5, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2, Basement, Bedroom 1, Bathroom 1
- Standard status
- Active
- APN
- B11SE3C6-14
- Size
- 5,500 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4004
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 5
Listing agent Faith M Sarisky (610) 452-2722
Listing office Realty Solutions of PA 1597 S Delaware Dr, Mount Bethel, PA (610) 452-2722
Listing date Apr 30, 2026
MLS# PM-140888
Listing URL
Copyright © 2026 Pocono Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 1900‑built, 5‑unit property with all units currently rented, including 3 one‑bedroom apartments, a two‑bedroom unit, and a commercial storefront
- Commercial storefront is occupied by a popular chocolate shop; long‑term tenants are well‑established
- Views from the Second fl. include the Delaware River and the walking bridge
- Recent electrical and safety upgrades: new electrical panel boxes in the 3 second‑floor units, installed emergency lighting and illuminated exit signs
- Maintenance and systems improvements include new flooring in the hall, upgraded lighting in the 2nd‑floor hallway, missing GFCI outlets added, and PVC sewer pipes in the basement
- Approved for a facade improvement grant that may be transferable to the new owner; Unit 2A fully remodeled in 2022 and Unit 2C remodeled
Overview
This turnkey mixed-use building contains five total rented units, with three one-bedroom apartments on the second floor and a two-bedroom unit on the first floor. A ground-floor commercial storefront is also included and is occupied by a chocolate shop. The property has been maintained and includes multiple recent upgrades, including new electrical panel boxes for the three second-floor units, new flooring in the second-floor hall, upgraded lighting in the second-floor hallway, and the installation of emergency lighting and illuminated exit signs. Additional improvements include upgraded electrical service at the meter box, sewer pipes in the basement converted to PVC, missing GFCI outlets added, and handrails installed on the front steps and guard rails added on the rear and basement steps. Unit 2A was fully remodeled in 2022, and Unit 2C was remodeled as well.
Located at 507 Delaware Avenue in Portland, Pennsylvania, the second-floor apartments offer views of the Delaware River and the walking bridge.
With all units currently rented and described as long-term tenants, this property offers an owner the convenience of combining residential income with an operating storefront in one asset. It also has been approved for a facade improvement grant that may be transferable to a new owner.
Located at 507 Delaware Avenue in Portland, Pennsylvania, the second-floor apartments offer views of the Delaware River and the walking bridge.
With all units currently rented and described as long-term tenants, this property offers an owner the convenience of combining residential income with an operating storefront in one asset. It also has been approved for a facade improvement grant that may be transferable to a new owner.
Local Financial Insights For Retail
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 | $66.0k | $12.00 |
| − Vacancy | −$5.1k | −$0.94 |
| EGI | $60.9k | $11.06 |
| − OpEx | −$18.3k | −$3.32 |
| NOI | $42.6k | $7.74 |
5,500 SF · lease $12.00/SF/yr · vacancy 7.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$608.5K
$532.5K – $709.9K
NOI $42,596 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$478.1K
$418.4K – $557.8K
NOI $33,469 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.04M
$912.8K – $1.22M
NOI $73,022 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Alexandra & Nicolay Chocolates
Specialty Food Shop
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Northampton
- State
- Pennsylvania
- Longitude
- -75.097148
- Latitude
- 40.923008
FAQs
What type of property is this?
Apartment building - Turnkey mixed-use building with five rented units, including a ground-floor storefront and river views from the second floor.
Where is this apartment building located?
The property is located at 507 Delaware Avenue Portland, 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: 1900‑built, 5‑unit property with all units currently rented, including 3 one‑bedroom apartments, a two‑bedroom unit, and a commercial storefront; Commercial storefront is occupied by a popular chocolate shop; long‑term tenants are well‑established; Views from the Second fl. include the Delaware River and the walking bridge
