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Redevelopment Opportunity Near PPL Center

926-930 W Hamilton St, Allentown, PA

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For Sale

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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

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.

We can help!

Listing Contact

Loren Keim Jr.

For Sale

Contact for pricing

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

We can help!

Listing Contact

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

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

Location Insight

Map
Local Demand

City: Allentown
County: Lehigh
State: Pennsylvania
Longitude: -75.4763
Latitude: 40.6005

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For sale
Apartment buildings
PA
Allentown
926-930 W Hamilton St

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.

926-930 W Hamilton St, Allentown, PA

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

Property Features for 926-930 W Hamilton St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Allentown Mixed-Use Redevelopment Opportunity

Allentown Office Building For Sale

Allentown Commercial Investment Opportunity

Allentown Commercial Building For Sale

Mixed-Use Investment Property, Allentown, PA

Allentown City Investment Opportunity

Allentown City Office Building For Sale

Corner Mixed-Use Investment Property

Turnkey Church with Classroom Space

Mixed-Use Investment Opportunity

Allentown Medical/Office Building For Sale

Turnkey Multifamily Investment Opportunity

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