Industrial Flex Space with Overhead
For Sale
$949,000
911-925 N Lumber St, Allentown, PA 18102
Industrial flex property combining warehouse, manufacturing, and office areas under IG zoning.
Property Size12,148 SF
Lot Size0.39 Acres
Price / SF$78.12
Days on Market12
Property Features for 911-925 N Lumber St
General Information
Standard status
Active
Size
12,148 SF
Lot size
0.39 Acres
Zoning
IG
Additional Details
Asking Price
$949,999
Office Build-Out
1,500 SF
Taxes and HOA fees
Annual Taxes
$8,899
Building Details
Building Size
12,148 SF
Listing Agency:
Keller Williams Allentown
(610) 435-1800
Listed By:
James J. Balliet · License #PA RS227612L
(610) 972-6808
Source:
Exprealty
Added: Aug 27
Changed: Sep 6
Last Checked: Sep 6 at 3:00PM
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 Keller Williams Allentown
Investment Insights
Based on property information with market context.
Located at 911–925 N Lumber Street in Allentown, this 12,148-square-foot flex property combines warehouse and manufacturing areas with approximately 1,500 square feet of office space. Multiple overhead doors support movement throughout the building, while the existing configuration accommodates industrial operations requiring a blend of production, storage, and administrative space.
The property occupies approximately 0.393 acres and is zoned IG – Industrial General, a designation intended for low- and moderate-impact manufacturing and industrial services. Its Allentown location provides access throughout the Lehigh Valley and to the region’s major transportation network. The site is suited to owner-users and businesses seeking manufacturing, warehouse, distribution, contractor, or industrial service space.
The property occupies approximately 0.393 acres and is zoned IG – Industrial General, a designation intended for low- and moderate-impact manufacturing and industrial services. Its Allentown location provides access throughout the Lehigh Valley and to the region’s major transportation network. The site is suited to owner-users and businesses seeking manufacturing, warehouse, distribution, contractor, or industrial service space.
Key Highlights
- 12,148 SF of industrial flex space
- Approximately 1,500 SF of office area
- Warehouse and manufacturing configuration
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
$75,099
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
7.91%
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%
$1,501,980
$1.5M
Cap Rate 7%
$1,072,843
$1.1M
Cap Rate 9%
$834,433
$834.4K
Market Conditions
NOI Build-Up for 12,148 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
$93.3K $7.68/SF
− Vacancy
−$4.9K −$0.41/SF
EGI
$88.4K $7.27/SF
− OpEx
−$13.3K −$1.09/SF
NOI
$75.1K $6.18/SF
Area
Allentown, PA
Vacancy
5.30%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
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%
$1,501,980
Cap Rate 7%
$1,072,843
Cap Rate 9%
$834,433
Alternative Uses
Best Use
Warehouse
$1.07M
$938.7K – $1.25M
NOI $75,099 @ 7.0% cap · market cap 7.91%
Second Best
Industrial
$781.1K
$683.4K – $911.3K
NOI $54,675 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$2.39M
$2.09M – $2.78M
NOI $167,059 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,105
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property combining warehouse, manufacturing, and office areas under IG zoning.
Where is this flex space located?
The property is located at 911-925 N Lumber St Allentown, PA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 12,148 SF of industrial flex space; Approximately 1,500 SF of office area; Warehouse and manufacturing configuration
