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    Redevelopment Opportunity Near PPL Center Title is generated by Realmo AI

    926-930 W Hamilton St, Allentown, PA

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    Corner building on large lot in Allentown's NIZ zone.

    Type:MULTIFAMILY
    Property size:
    7,059 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $182/SF
    Added:
    Jul 1, 2025
    Days on Market:
    345
    Last Refresh:
    May 20 at 8:45 pm

    Property Features for 926-930 W Hamilton St

    General Information

    Standard status
    Active
    Size
    7,059 SF
    Lot size
    0.32 Acres
    Property subtype
    MULTIFAMILY

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    Listing Contact
    Loren Keim Jr.
    Loren Keim Jr.

    Listing agent Loren Keim Jr. License #RB-045762-L

    Listing office CENTURY 21 Keim Realtors

    Listing date Jul 1, 2025

    Source Moodyscre

    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 CENTURY 21 Keim Realtors

    HighLights

    • Large 30' x 230' corner lot in Allentown's NIZ opportunity zone.
    • Redevelopment opportunity for existing 3‑story building with off‑street parking.
    • Potential for new construction to maximize NIZ benefits.
    • Proximity to PPL Center and entertainment venues.
    • Surrounded by 450 new apartments and 14,000+ office workers.
    • Significant new development in the area due to NIZ tax benefits.

    Overview

    This is a redevelopment opportunity for a corner building situated on a large 30' x 230' lot. The property is located just two blocks from the PPL Center in the heart of Allentown's NIZ opportunity zone. The existing three-story building includes off-street parking. It may be reconfigured, or a new project could be built to take advantage of the benefits offered by the opportunity zone. The surrounding area includes 450 new apartments, over 14,000 office workers, and entertainment venues such as the PPL Center. Since the NIZ inception, there has been more than a billion dollars in new development in this zone because most taxes generated in the NIZ can be used to pay down debt service on any financed construction improvements within the zone. The property size is 7,059 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $127.1k $18.00
    − Vacancy −$8.6k −$1.22
    EGI $118.4k $16.78
    − OpEx −$53.3k −$7.55
    NOI $65.1k $9.23
    7,059 SF · lease $18.00/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $930.5K
    $814.2K – $1.09M (±1% cap)
    NOI $65,132 @ 7.0% cap · market cap 5.05%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $1.39M
    $1.21M – $1.62M (±1% cap)
    NOI $97,075 @ 7.0% cap · market cap 7.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4763
    Latitude
    40.6005

    FAQs

    What type of property is this?
    Apartment building - Corner building on large lot in Allentown's NIZ zone.
    Where is this apartment building located?
    The property is located at 926-930 W Hamilton St Allentown, PA.
    What is the asking price?
    The asking price for this property is $1,290,000.
    What are key features of this property?
    This property features: Large 30' x 230' corner lot in Allentown's NIZ opportunity zone.; Redevelopment opportunity for existing 3‑story building with off‑street parking.; Potential for new construction to maximize NIZ benefits.
    (610) 657-5095 Call to check price and availability
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