Office-Warehouse Flex
New
For Sale
Contact for pricing
602-620 Tacoma Street, Allentown, PA 18109
GX-C zoning supports a mix of residential and office uses, subject to permitting and City approval.
Property Size22,000 SF
Lot Size1.32 Acres
Price / SF$56.82
Days on Market6
Property Features for 602-620 Tacoma Street
General Information
Standard status
Active
Size
22,000 SF
Lot size
1.32 Acres
Property subtype
Office, Industrial
Zoning
GX-C
Warehouse & Industrial
Clear Height
12 ft
Voltage
480 V
Additional Details
Highway Access
Yes
Building Details
Building Size
22,000 SF
Listing Agency:
RE/MAX Centre Realtors
Listed By:
Anthony Iovine · License #RS334145
(215) 421-8956
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 26 at 4:40AM
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 RE/MAX Centre Realtors
Investment Insights
Based on property information with market context.
This flex property contains an approximately 22,000 SF office and warehouse building on two parcels totaling approximately 1.32 acres. The existing layout combines office and warehouse areas, with approximately 12' ceiling heights, three bay doors, and 277/480V electrical service. The site was rezoned GX-C, a Residential-Office Mix Corridor designation; any proposed use remains subject to applicable permitting and City approvals.
The property is in Allentown, with access to Airport Road, Route 22, Lehigh Valley International Airport, and the broader Allentown-Bethlehem market.
The property is in Allentown, with access to Airport Road, Route 22, Lehigh Valley International Airport, and the broader Allentown-Bethlehem market.
Key Highlights
- Approximately 22,000 SF office and warehouse building
- Two parcels totaling approximately 1.32 acres
- Approximately 12' ceiling heights
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
$99,016
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
7.92%
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%
$1,980,320
$2.0M
Cap Rate 7%
$1,414,514
$1.4M
Cap Rate 9%
$1,100,178
$1.1M
Market Conditions
NOI Build-Up for 22,000 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
$150.5K $6.84/SF
− Vacancy
−$9.0K −$0.41/SF
EGI
$141.5K $6.43/SF
− OpEx
−$42.4K −$1.93/SF
NOI
$99.0K $4.50/SF
Area
Allentown, PA
Vacancy
6.00%
Lease Rate
$6.84 /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%
$1,980,320
Cap Rate 7%
$1,414,514
Cap Rate 9%
$1,100,178
Alternative Uses
Best Use
Warehouse
$1.94M
$1.70M – $2.27M
NOI $136,004 @ 7.0% cap · market cap 10.88%
Second Best
Industrial
$1.41M
$1.24M – $1.65M
NOI $99,016 @ 7.0% cap · market cap 7.92%
Theoretical Best
Specialty Retail
$4.32M
$3.78M – $5.04M
NOI $302,544 @ 7.0% cap · market cap 24.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
635
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18109, PA
18,915
Population
7,395
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
80%
High-School Grad
8.2 sq mi
ZIP Area
2,307
Density / Sq Mi
$55,437
Median Household Income
$36,632
Median Earnings
$1,239
Median Rent
$180,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - GX-C zoning supports a mix of residential and office uses, subject to permitting and City approval.
Where is this flex space located?
The property is located at 602-620 Tacoma Street Allentown, PA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 22,000 SF office and warehouse building; Two parcels totaling approximately 1.32 acres; Approximately 12' ceiling heights
