Historic Live-Work
For Sale
$699,000
72 W Market St, Bethlehem, PA 18018
Flexible commercial and residential configuration with separate entrances, upper-level living space, and period architectural details.
Property Size3,330 SF
Price / SF$209.91
Days on Market14
Property Features for 72 W Market St
General Information
Standard status
Active
Size
3,330 SF
Property subtype
Multi-Family
Amenities
outdoor garden
updated heating and cooling
hardwood floors
soaring ceilings
dual entrances
walk in safe
Building Details
Year Built
1900
Listing Agency:
Main St. Real Estate Group
(610) 533-1231
Listed By:
Lucy H. Lennon
Source:
Jennysoldmine
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 2:03PM
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 Main St. Real Estate Group
Investment Insights
Based on property information with market context.
This 3,330-square-foot live-work property combines a ground-floor office or storefront with work-live quarters across the upper floors. The building dates to 1900 and retains hardwood floors, high ceilings, a walk-in safe, and other historic craftsmanship. Dual entrances support distinct access to the commercial and residential portions, while updated heating and cooling add practical functionality. An outdoor garden provides additional character.
Located at 72 W Market St in Bethlehem City, Pennsylvania, the property is within Bethlehem's Historic District and a UNESCO World Heritage Site. Shopping, dining, and parking are located nearby, with the property positioned close to Main Street. The upper two floors historically served as a private residence, complementing the ground-level commercial arrangement.
Located at 72 W Market St in Bethlehem City, Pennsylvania, the property is within Bethlehem's Historic District and a UNESCO World Heritage Site. Shopping, dining, and parking are located nearby, with the property positioned close to Main Street. The upper two floors historically served as a private residence, complementing the ground-level commercial arrangement.
Key Highlights
- 3,330 SF live‑work property with office or storefront space and upper‑floor residential quarters
- 1900 construction with hardwood floors, high ceilings, historic craftsmanship, and a walk‑in safe
- Dual entrances separate access between the ground‑floor commercial area and upper floors
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
$34,278
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
4.90%
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%
$685,560
$685.6K
Cap Rate 7%
$489,686
$489.7K
Cap Rate 9%
$380,867
$380.9K
Market Conditions
NOI Build-Up for 3,330 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
$59.9K $18.00/SF
− Vacancy
−$5.1K −$1.53/SF
EGI
$54.8K $16.47/SF
− OpEx
−$20.6K −$6.18/SF
NOI
$34.3K $10.29/SF
Area
Lehigh County, PA
Vacancy
8.50%
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%
$685,560
Cap Rate 7%
$489,686
Cap Rate 9%
$380,867
Alternative Uses
Best Use
Mixed Use
$489.7K
$428.5K – $571.3K
NOI $34,278 @ 7.0% cap · market cap 4.90%
Second Best
Office B
$347.4K
$304.0K – $405.3K
NOI $24,316 @ 7.0% cap · market cap 3.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 18018, PA
32,388
Population
14,669
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,228
Density / Sq Mi
$71,968
Median Household Income
$43,471
Median Earnings
$1,261
Median Rent
$224,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Flexible commercial and residential configuration with separate entrances, upper-level living space, and period architectural details.
Where is this live-work space located?
The property is located at 72 W Market St Bethlehem, PA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,330 SF live‑work property with office or storefront space and upper‑floor residential quarters; 1900 construction with hardwood floors, high ceilings, historic craftsmanship, and a walk‑in safe; Dual entrances separate access between the ground‑floor commercial area and upper floors
