Restaurant and Event Space with
For Sale
Contact for pricing
754 Cherokee Street, Bethlehem, PA 18015
Restaurant and event space with office area and ample onsite parking, suited for hospitality and private gatherings.
Property Size2,239 SF
Price / SF$169.72
Days on Market107
Property Features for 754 Cherokee Street
General Information
Standard status
Active
Size
2,239 SF
Total Parking Spaces
15
Property subtype
Retail, Special Purpose, Business for Sale
Zoning
MHDR
Investment Type
Owner/User
Building Details
Year Built
1900
Year Renovated
2026
Buildings
1
Tenancy
Single
Listing Agency:
Hanna Commercial Real Estate Allentown
Listed By:
Latidia Fisher · License #RS380238
Source:
Crexi
Added: Jun 8
Changed: Sep 20
Last Checked: Sep 21 at 4:25AM
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 Allentown
Investment Insights
Based on property information with market context.
This property combines a restaurant and event-oriented interior with dedicated office space. The layout is spacious and designed for hosting gatherings, celebrations, and community events, supported by high ceilings and two half bathrooms for added convenience.
Onsite parking is available for guests, helping support higher-occupancy functions and customer traffic. The configuration also allows the space to operate as a hospitality concept while maintaining an office area for day-to-day administration or coordination.
For buyers and operators, the mix of restaurant/event space, office use, and parking makes the building practical for dining services, private events, catering, entertainment, or a mixed-use hospitality business concept. The included office space supports on-site management, while the event-ready layout and high ceilings can better accommodate group experiences. If you’re looking for a single property that can support both customer-facing programming and operational space, this is a straightforward option to evaluate.
Onsite parking is available for guests, helping support higher-occupancy functions and customer traffic. The configuration also allows the space to operate as a hospitality concept while maintaining an office area for day-to-day administration or coordination.
For buyers and operators, the mix of restaurant/event space, office use, and parking makes the building practical for dining services, private events, catering, entertainment, or a mixed-use hospitality business concept. The included office space supports on-site management, while the event-ready layout and high ceilings can better accommodate group experiences. If you’re looking for a single property that can support both customer-facing programming and operational space, this is a straightforward option to evaluate.
Key Highlights
- Year built 1900
- Restaurant and event space designed for hosting private gatherings and community events
- Spacious layout with high ceilings
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
$17,913
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
4.71%
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%
$358,260
$358.3K
Cap Rate 7%
$255,900
$255.9K
Cap Rate 9%
$199,033
$199.0K
Market Conditions
NOI Build-Up for 2,239 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
$25.8K $11.52/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$23.9K $10.67/SF
− OpEx
−$6.0K −$2.67/SF
NOI
$17.9K $8.00/SF
Area
Lehigh County, PA
Vacancy
7.40%
Lease Rate
$11.52 /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%
$358,260
Cap Rate 7%
$255,900
Cap Rate 9%
$199,033
Alternative Uses
Best Use
Specialty Retail
$255.9K
$223.9K – $298.6K
NOI $17,913 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$329.3K
$288.1K – $384.1K
NOI $23,048 @ 7.0% cap · market cap 6.07%
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
1,659
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 19%
McDonald's
Dining
23,780 visits/mo
0.3 miles
Wendy's
Dining
14,468 visits/mo
0.5 miles
TD Bank
Shops & Services
6,181 visits/mo
0.3 miles
AutoZone
Shops & Services
2,935 visits/mo
0.3 miles
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant and event space with office area and ample onsite parking, suited for hospitality and private gatherings.
Where is this conventional restaurant located?
The property is located at 754 Cherokee Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Year built 1900; Restaurant and event space designed for hosting private gatherings and community events; Spacious layout with high ceilings
