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

    2045 Westgate Dr Bethlehem, PA 18017

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Four-story office building with high visibility and flexible fit-out options.

    Type:Office
    Added:
    Oct 18, 2023
    Days on Market:
    917
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 2045 Westgate Dr

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 2045 Westgate Dr Contact us

    We can help!

    Listing Contact
    Casey Keller

    Listing agent Casey Keller License #RS370904

    Listing office Feinberg Real Estate Advisors LLC

    Listing date Oct 18, 2023

    Source Crexi

    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 Feinberg Real Estate Advisors LLC

    Overview

    Bethlehem Professional Office Building

    This four-story professional office building is centrally located off Schoenersville Road in Bethlehem. The property offers tenants a location with high visibility and 24-hour building access. Fit-out options are available. The building is well-maintained and professionally managed. It is suitable for business professionals seeking long-term office space. Intended uses include business services, general office, law offices, exercise clubs, and medical offices, clinics, and labs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Angela Carden, Pocono ... Real Estate Agency John R.K. Solt, ... Law Firm Mars Management Inc Social Service Agency Mosebach Funt Dayton ... Law Firm Dayton Jr William ... Law Firm

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethlehem
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4088424
    Latitude
    40.6411801

    Nearby Similar for Lease

    • $20/mo

      Bethlehem Retail Space For Lease

      Prime retail space with high visibility and foot traffic.
      509 Wyandotte Street, Bethlehem, PA 18015
      View Details
    • Contact for pricing

      Bethlehem City Retail Space Available

      Retail space in Bethlehem, ready for immediate lease.
      1935 W Broad Street, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Unique Commercial Property in Bethlehem

      Versatile commercial property with development potential in North Bethlehem.
      431 W Union Boulevard, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Bethlehem Commercial Storefront for Rent

      High-visibility commercial space suitable for various businesses in Bethlehem.
      437 Wyandotte Street, Bethlehem City, PA 18015
      View Details
    • Contact for pricing

      Updated Office Space For Rent

      Professional office space available in updated building, utilities included.
      1502 Center Street unit: 102, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Adaptable Commercial Space on 4th

      Flexible commercial space near Lehigh University, ready for transformation.
      429 E 4th Street, Bethlehem City, PA 18015
      View Details
    • Contact for pricing

      Bethlehem City Office Space

      Affordable office space in desirable corporate park with ample parking.
      31 Commerce unit: 500, Bethlehem City, PA 18017
      View Details
    • Contact for pricing

      Bethlehem City Office/Retail Space

      Prime corner location with high visibility and convenient access.
      602 W Broad Street, Bethlehem City, PA 18018
      View Details
    • Contact for pricing

      Highland Avenue Office Suite

      9,445 SF office suite designed for operational efficiency.
      95 Highland Avenue unit: 208, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Bethlehem Township Commercial Space Available

      Recently renovated office space in a prime location.
      3348 Easton Avenue unit: 301, Bethlehem Twp, PA 18020
      View Details
    • Contact for pricing

      Bethlehem Office Space For Rent

      Exceptional corner suite with customization potential in Bethlehem, Pennsylvania.
      95 Highland Avenue unit: 205, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Bethlehem Office Space For Rent

      High-end office space with natural light and flexible layout.
      95 Highland Avenue unit: 205-B, Bethlehem, PA 18017
      View Details

    FAQs

    What type of property is this?
    Office building - Four-story office building with high visibility and flexible fit-out options.
    Where is this office building located?
    The property is located at 2045 Westgate Dr Bethlehem, PA.
    What are key features of this property?
    This property features: Highly visible and centrally located office building.; Enjoy 24‑hour building access.; Fit‑out options available.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Casey Keller
    Real Estate License ID: RS370904
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!