Restaurant and Event
For Sale
$360,000
754 Cherokee Street, Bethlehem, PA 18015
CommercialSale, Fountain Hill Boro, PA
Property Size2,239 SF
Lot Size0.16 Acres
Price / SF$160.79
Days on Market109
Property Features for 754 Cherokee Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
MHDR
Parking
15
Parking features
On Street, Parking Lot, Off Street
Elementary school district
Bethlehem
Middle school district
Bethlehem
High school district
Bethlehem
Directions
Broadway in Foutain Hill to right on Fiot Street Property on right
Subdivision
Fountain Hill
Standard status
Active
Size
2,239 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
8121
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
office space
high ceilings
two half bathrooms
surround sound
acoustic sound
Building Details
Year built
1900
Building materials
VinylSiding
Listing Agency:
Howard Hanna TheFrederickGroup
(610) 398-0411
Listed By:
Latidia D. Fisher
(610) 393-3846
Added: May 14
Changed: Aug 19
Last Checked: Aug 30 at 3:06PM
MLS# 777094
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.
This 2,239-square-foot commercial property is configured for restaurant and event-space use, with a layout suited to dining, gatherings, catering, and entertainment. The building includes office space, high ceilings, two half bathrooms, surround sound, and acoustic sound treatment. A cleared C/O and access to a liquor license are also noted. Construction is vinyl siding, with natural gas heat and central air conditioning.
The property occupies 0.156 acres and provides parking through a lot, off-street spaces, and on-street options. Public water and public sewer serve the site. Built in 1900, the property is zoned MHDR and is located in Fountain Hill Boro, Lehigh County, Pennsylvania.
The property occupies 0.156 acres and provides parking through a lot, off-street spaces, and on-street options. Public water and public sewer serve the site. Built in 1900, the property is zoned MHDR and is located in Fountain Hill Boro, Lehigh County, Pennsylvania.
Key Highlights
- 2,239‑square‑foot restaurant and event‑space configuration
- 0.156‑acre property with parking lot, off‑street, and on‑street parking
- Office space, high ceilings, and two half bathrooms
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
4.98%
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 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$329.3K
$288.1K – $384.1K
NOI $23,048 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Restaurant-configured commercial property with event space, office area, onsite parking, and public utilities.
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 $360,000.
What are key features of this property?
This property features: 2,239‑square‑foot restaurant and event‑space configuration; 0.156‑acre property with parking lot, off‑street, and on‑street parking; Office space, high ceilings, and two half bathrooms
