Pet Grooming Retail
For Sale
$75,000
509 N 22nd Street, Allentown, PA 18104
CommercialSale, Allentown City, PA
Property Size300 SF
Price / SF$250
Days on Market213
Property Features for 509 N 22nd Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking features
On Street
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Tilghman Street to south on 22nd St, proceed 4 blocks business on left at corner of Liberty and 22nd St.
Subdivision
Allentown-West
Standard status
Active
Size
300 SF
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1928
Building materials
Brick
Listing Agency:
HowardHanna TheFrederickGroup · Howard Hanna
(610) 398-0411
Listed By:
Steven G. Haddad
(610) 587-3712
Added: Jan 23
Changed: Aug 19
Last Checked: Aug 24 at 10:06AM
MLS# 770959
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 300-square-foot retail space houses an established pet grooming salon offered with its operating equipment and existing book of business. The property is a brick building constructed in 1928, with ductless cooling and electric and ductless heating systems.
The sale includes an established clientele and a regular service schedule. An experienced groomer is willing to remain, while the owner may provide transition training and continue working with the business. Public water and public sewer serve the property, with on-street parking available.
The sale includes an established clientele and a regular service schedule. An experienced groomer is willing to remain, while the owner may provide transition training and continue working with the business. Public water and public sewer serve the property, with on-street parking available.
Key Highlights
- 300 square feet of retail space
- Pet grooming salon offered with operating equipment and existing book of business
- Experienced groomer willing to remain with the business
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
$3,695
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
4.93%
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%
$73,900
$73.9K
Cap Rate 7%
$52,786
$52.8K
Cap Rate 9%
$41,056
$41.1K
Market Conditions
NOI Build-Up for 300 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
$5.6K $18.60/SF
− Vacancy
−$301 −$1.00/SF
EGI
$5.3K $17.60/SF
− OpEx
−$1.6K −$5.28/SF
NOI
$3.7K $12.32/SF
Area
Allentown, PA
Vacancy
5.40%
Lease Rate
$18.60 /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%
$73,900
Cap Rate 7%
$52,786
Cap Rate 9%
$41,056
Alternative Uses
Best Use
Retail
$52.8K
$46.2K – $61.6K
NOI $3,695 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$58.9K
$51.6K – $68.8K
NOI $4,126 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Groceries 22%
TD Bank
Shops & Services
10,210 visits/mo
0.4 miles
Speedway
Shops & Services
7,992 visits/mo
0.4 miles
Fine Wine & Good Spirits
Groceries
7,665 visits/mo
0.4 miles
Wells Fargo
Shops & Services
4,377 visits/mo
0.4 miles
Shell
Shops & Services
3,203 visits/mo
0.2 miles
Demographics for 18104, PA
47,289
Population
18,686
Households
2.5
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
2,056
Density / Sq Mi
$94,279
Median Household Income
$48,585
Median Earnings
$1,620
Median Rent
$296,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Established pet grooming operation with equipment, trained staff support, and an existing client book.
Where is this retail space located?
The property is located at 509 N 22nd Street Allentown, PA.
What is the asking price?
The asking price for this property is $75,000.
What are key features of this property?
This property features: 300 square feet of retail space; Pet grooming salon offered with operating equipment and existing book of business; Experienced groomer willing to remain with the business
