Updated Flex Space
For Sale
Contact for pricing
622 Union Blvd, Allentown, PA 18109
Two-story commercial facility combines office, medical, retail, and clear-span warehouse areas with dedicated medical-suite access.
Property Size18,219 SF
Lot Size1.00 Acre
Price / SF$186.62
Days on Market516
Property Features for 622 Union Blvd
General Information
Standard status
Active
Size
18,219 SF
Total Parking Spaces
45
Lot size
1.00 Acre
Property subtype
RETAIL
Zoning
B-3
Additional Details
Asking Price
$2,900,000
Amenities
common bathrooms
room plumbed for a kitchenette
Building Details
Buildings
1
Stories
2
Listing Agency:
Hanna Commercial Real Estate | Lehigh Valley, PA
(484) 347-2359
Listed By:
Carrie Ward · License #AB069092
Source:
Moodyscre
Added: Mar 4, 2025
Changed: Aug 2
Last Checked: Aug 2 at 7:43AM
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 Hanna Commercial Real Estate | Lehigh Valley, PA
Investment Insights
Based on property information with market context.
This updated two-story flex space building contains 18,219 square feet configured for multiple commercial functions. The interior includes office areas, a medical suite, retail space, and clear-span warehouse area. Shared bathrooms serve the building, while a separate room is plumbed for a kitchenette. The medical component has independent entrances and a self-contained layout that supports controlled access.
The property occupies 1 acre at a signalized corner and carries B-3 Highway Business zoning. On-site parking includes 45 lined spaces, providing a defined parking arrangement for the building’s varied configuration.
The combination of office, healthcare, retail, and warehouse improvements creates a flexible physical layout for an owner-user or investor seeking a multi-purpose commercial asset.
The property occupies 1 acre at a signalized corner and carries B-3 Highway Business zoning. On-site parking includes 45 lined spaces, providing a defined parking arrangement for the building’s varied configuration.
The combination of office, healthcare, retail, and warehouse improvements creates a flexible physical layout for an owner-user or investor seeking a multi-purpose commercial asset.
Key Highlights
- 18,219‑square‑foot updated flex space building
- Two‑story layout with office, medical, retail, and clear‑span warehouse areas
- Medical suite has separate entrances and a self‑contained configuration
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 | $338.9k | $18.60 |
| − Vacancy | −$18.3k | −$1.00 |
| EGI | $320.6k | $17.60 |
| − OpEx | −$96.2k | −$5.28 |
| NOI | $224.4k | $12.32 |
18,219 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.21M
$2.81M – $3.74M
NOI $224,402 @ 7.0% cap · market cap 6.60%
Second Best
Healthcare Medical
$2.28M
$1.99M – $2.66M
NOI $159,445 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$3.58M
$3.13M – $4.18M
NOI $250,548 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
719
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 Office 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 - Two-story commercial facility combines office, medical, retail, and clear-span warehouse areas with dedicated medical-suite access.
Where is this flex space located?
The property is located at 622 Union Blvd Allentown, PA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 18,219‑square‑foot updated flex space building; Two‑story layout with office, medical, retail, and clear‑span warehouse areas; Medical suite has separate entrances and a self‑contained configuration
