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    746 Union St Allentown, PA 18101

    For Sale
    $1,790,000

    High-density residential lot, 0.5 acres

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    Prime 0.5-acre commercial land parcel located at 746 Union St, Allentown, PA 18101. This exceptional property is situated in the heart of downtown Allentown, just one block from the Neighborhood Improvement Zone (NIZ), a thriving area experiencing over $1 billion in new development. Currently zoned for high-density residential, this lot presents a unique opportunity for significant returns. Its location within the NIZ offers the potential for advantageous tax benefits, further enhancing its investment appeal. Additionally, the property's designation as a Federal Opportunity Zone provides further tax incentives. This versatile site is ideal for a variety of development projects, catering to the growing demand for residential units in this dynamic urban center. The seller is open to exploring alternative transaction structures, including land lease options or build-to-suit arrangements, in addition to an outright sale. The APN is 640619007717-1. Don't miss this chance to capitalize on the rapid growth and revitalization of Allentown's downtown core.

    Property Features for 746 Union St

    General Information

    Property type
    Land
    Lot Size
    21,780 SF

    HighLights

    • $1,790,000 asking price.
    • 0.5‑acre commercial land parcel.
    • High‑density residential zoning.
    • Located at 746 Union St, Allentown, PA 18101 (APN: 640619007717‑1).
    • One block from Allentown's Neighborhood Improvement Zone (NIZ).
    • Eligible for NIZ tax benefits and located in a Federal Opportunity Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4717777
    Latitude
    40.5985832

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    FAQs

    What type of property is this?
    Land - High-density residential lot, 0.5 acres
    Where is this land located?
    The property is located at 746 Union St Allentown, PA.
    What is the asking price?
    The asking price for this property is $1,790,000.
    What are key features of this property?
    This property features: $1,790,000 asking price.; 0.5-acre commercial land parcel.; High-density residential zoning.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
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