Three-Level Office
For Sale
$299,900
523 W Linden Street, Allentown, PA 18101
CommercialSale, Allentown City, PA
Property Size3,003 SF
Lot Size0.05 Acres
Price / SF$99.87
Days on Market93
Property Features for 523 W Linden Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R-H
Parking
4
Parking features
On Street, Off Street, Garage
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
145 South/MacArthur Rd; Right on N 5th; Right on Linden St. Property will be on right.
Subdivision
Allentown-Central
Standard status
Active
APN
640711632043-1
Size
3,003 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4678
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
flexible layouts
high efficiency gas boiler
central air conditioning
energy-efficient lighting
ethernet connectivity
side service entrance
reception area
private offices
flex space
powder room
inlaid hardwood flooring
kitchen
full bath
storage areas
Building Details
Year built
1856
Building materials
Stucco
Listing Agency:
BetterHomes&GardensRE/Cassidon
(610) 266-2661
Listed By:
Jessie Cevallos
(610) 504-0337
Added: Jun 12
Changed: Sep 2
Last Checked: Sep 12 at 5:06PM
MLS# 778809
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.
Located at 523 W Linden Street in Center City Allentown, this 3,003-square-foot office property extends across three levels on a 0.053-acre parcel. The first floor combines reception, private offices, flex space, and a powder room. Four offices, a kitchen, full bath, and storage occupy the second floor, while the third level provides additional office and storage space. Inlaid hardwood flooring appears on the second floor.
Building systems include a high-efficiency natural-gas boiler dated 2026, central air conditioning, energy-efficient lighting, and ethernet connectivity. The property also offers a side service entrance and four off-street parking spaces, with garage and on-street parking listed among the additional parking features. R-H zoning allows mixed-use or residential conversion. Built in 1856, the building is near the Lehigh County Courthouse, PPL Center, Arts Walk, cafes, restaurants, and shops.
Building systems include a high-efficiency natural-gas boiler dated 2026, central air conditioning, energy-efficient lighting, and ethernet connectivity. The property also offers a side service entrance and four off-street parking spaces, with garage and on-street parking listed among the additional parking features. R-H zoning allows mixed-use or residential conversion. Built in 1856, the building is near the Lehigh County Courthouse, PPL Center, Arts Walk, cafes, restaurants, and shops.
Key Highlights
- 3,003‑square‑foot office building on a 0.053‑acre parcel
- Three‑level layout with private offices, flex space, kitchen, baths, and storage
- High‑efficiency natural‑gas boiler dated 2026 and central air conditioning
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
$16,303
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
5.44%
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%
$326,060
$326.1K
Cap Rate 7%
$232,900
$232.9K
Cap Rate 9%
$181,144
$181.1K
Market Conditions
NOI Build-Up for 3,003 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
$23.4K $7.80/SF
− Vacancy
−$1.7K −$0.56/SF
EGI
$21.7K $7.24/SF
− OpEx
−$5.4K −$1.81/SF
NOI
$16.3K $5.43/SF
Area
Allentown, PA
Vacancy
7.20%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
25.00%
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%
$326,060
Cap Rate 7%
$232,900
Cap Rate 9%
$181,144
Alternative Uses
Best Use
Office B
$232.9K
$203.8K – $271.7K
NOI $16,303 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$590.0K
$516.2K – $688.3K
NOI $41,297 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 18101, PA
5,108
Population
2,686
Households
1.9
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
0.3 sq mi
ZIP Area
17,027
Density / Sq Mi
$41,542
Median Household Income
$34,397
Median Earnings
$1,337
Median Rent
$153,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - R-H zoning permits mixed-use or residential conversion alongside the existing office configuration.
Where is this office building located?
The property is located at 523 W Linden Street Allentown, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 3,003‑square‑foot office building on a 0.053‑acre parcel; Three‑level layout with private offices, flex space, kitchen, baths, and storage; High‑efficiency natural‑gas boiler dated 2026 and central air conditioning
