5-Unit Mixed-Use
For Sale
$550,000
507 Delaware Avenue, Mount Bethel, PA 18343
COMMERCIAL - Portland Boro, PA
Property Size4,500 SF
Lot Size0.08 Acres
Price / SF$122.22
Days on Market116
Property Features for 507 Delaware Avenue
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
27B
Elementary school district
Bangor
Middle school district
Bangor
High school district
Bangor
Directions
R6 611 N to Portland. Property on left side
Subdivision
Portland
Standard status
Active
APN
B11SE3C6 14 0127
Size
4,500 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4004
Utilities
Water source
Public
Building Details
Year built
1890
Listing Agency:
Realty Solutions of Pa
(610) 452-2722
Listed By:
Faith Sarisky
(610) 452-2722
Added: Apr 30
Changed: Aug 19
Last Checked: Aug 23 at 10:06AM
MLS# 776087
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 4,500-square-foot mixed-use building, constructed in 1890, contains five total units: three one-bedroom apartments, one two-bedroom apartment, and a commercial storefront occupied by a chocolate shop. The apartments are currently rented, and the property includes public water service. Second-floor views extend toward the Delaware River and the walking bridge.
Recent work includes electrical panel replacements in the three second-floor apartments, new hallway flooring, upgraded electrical service at the meter, basement sewer pipe conversion to PVC, improved hallway lighting, emergency lighting, illuminated exit signs, added GFCI outlets, and new handrails and guardrails. Unit 2A was fully remodeled in 2022, and Unit 2C also received remodeling. The property is zoned 27B and has approval for a facade improvement grant that may transfer to a new owner.
Recent work includes electrical panel replacements in the three second-floor apartments, new hallway flooring, upgraded electrical service at the meter, basement sewer pipe conversion to PVC, improved hallway lighting, emergency lighting, illuminated exit signs, added GFCI outlets, and new handrails and guardrails. Unit 2A was fully remodeled in 2022, and Unit 2C also received remodeling. The property is zoned 27B and has approval for a facade improvement grant that may transfer to a new owner.
Key Highlights
- Five‑unit composition with three one‑bedroom apartments, one two‑bedroom apartment, and a commercial storefront
- 4,500 square feet on 0.081 acres in Portland Boro
- All apartment units are currently rented
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
$45,563
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
8.28%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
153
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential apartments and a commercial storefront share this maintained Portland Boro property.
Where is this mixed-use property located?
The property is located at 507 Delaware Avenue Mount Bethel, 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‑unit composition with three one‑bedroom apartments, one two‑bedroom apartment, and a commercial storefront; 4,500 square feet on 0.081 acres in Portland Boro; All apartment units are currently rented
