Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    746 Union St Allentown, PA 18101

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime downtown Allentown location near Neighborhood Improvement Zone.

    Lot size:
    0.50 Acres

    Property Features for 746 Union St

    General Information

    Standard status
    Active
    Zoning
    High Density Residential
    Lot size
    0.50 Acres

    We can help!

    Listing Contact
    Joe Paranee
    Source: Crexi

    Listing Agency: Paranee Property Management Listing Agent: Joe Paranee

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Allentown Developable Pad Site

    Located in the heart of downtown Allentown, this property at 746 W Union Street offers a developable pad site or building lot. The site spans approximately 0.5 acres. Zoned for high-density residential use, the property is eligible for transfer into the Neighborhood Improvement Zone (NIZ). It is also situated within a Federal Opportunity Zone. The owner is open to considering a land lease or build-to-suit arrangement, in addition to a sale.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4717866
    Latitude
    40.5985912

    Nearby Similar for Sale

    • $849,900
      4,280 SF

      Mixed-Use Investment Property, Allentown, PA

      Versatile 3-unit property with commercial and residential income potential.
      1015 W Hamilton St, Allentown, PA 18101
      View Details
    • $375,000
      3,057 SF

      Allentown City Office Building For Sale

      Office building near Lehigh County Courthouse and City Hall.
      441 W Linden St, Allentown, PA 18102
      View Details
    • $910,000
      4,228 SF

      Allentown City Investment Opportunity

      Leased building near upcoming waterfront development.
      1007 Union Blvd, Allentown, PA 18109
      View Details
    • $749,000
      3,457 SF

      Allentown Office Building For Sale

      High-visibility office building suitable for owner-user or investment.
      6614 Ruppsville Rd, Allentown, PA 18106
      View Details
    • New
      $450,000

      Allentown Commercial Property on Corner Lot

      Highly visible corner lot in Allentown's B3 Highway Business District.
      419 W Emaus Ave, Allentown, PA 18103
      View Details
    • $910,000
      4,228 SF

      Allentown Commercial Building For Sale

      Leased commercial building near upcoming waterfront development.
      1007 Union Blvd, Allentown, PA 18109
      View Details
    • $325,000
      1,720 SF

      Allentown City Commercial Property For Sale

      High-traffic, commercially zoned property suitable for office or commercial ventures.
      827 19Th St, Allentown, PA 18104
      View Details
    • $799,000
      4,104 SF

      Commercial Property Near Downtown Allentown

      Well-located commercial property suitable for various uses near downtown.
      1122 W Hamilton St, Allentown, PA 18101
      View Details
    • $910,000
      4,228 SF

      Allentown Commercial Investment Opportunity

      Leased commercial building near upcoming waterfront development.
      1007 Union Blvd, Allentown, PA 18109
      View Details
    • $3,300,000
      9,184 SF

      Allentown Commercial Property For Sale

      Established car wash and commercial property in high-traffic Allentown location.
      1636 Tilghman St W, Allentown, PA 18102
      View Details
    • $1,700,000
      6,900 SF

      Allentown Medical/Office Building For Sale

      6,900 SF building near Lehigh Valley Hospital-Cedar Crest.
      2900 Hamilton Boulevard Byp, Allentown, PA 18103
      View Details
    • $502,000
      2,878 SF

      Renovated Mixed-Use Property For Sale

      Mixed-use property featuring retail space and residential units.
      438 N 7Th St, Allentown, PA 18102
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime downtown Allentown location near Neighborhood Improvement Zone.
    Where is this commercial land located?
    The property is located at 746 Union St Allentown, PA.
    What are key features of this property?
    This property features: - Premier .5 +/- acre developable pad site in downtown Allentown.; - Located one block from the Neighborhood Improvement Zone (NIZ) and $1.0 billion of new development.; - Currently zoned for high-density residential.
    Request Owner's contact information
    746 Union St Allentown, PA 18101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    746 Union St
    Allentown, PA 18101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    746 Union St Allentown, PA 18101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joe Paranee
    Real Estate License ID: RB068724
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!