Building Details

Building Size 12,000 SF

Year Built 1900

Listing Agency: Boutique One Properties LLC

Listed By: Ellen V. Benner Show Phone

Source: Bhhspaulfordrealtors

Added: Dec 11, 2025 Changed: Oct 25 Last Checked: Oct 24 at 10:42PM

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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 Boutique One Properties LLC

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Investment Insights

Based on property information with market context.

Built in 1900, this office building at 940 N New St includes suites and common areas that have undergone significant upgrades within the past year. The property accommodates a range of professional and medical uses, with building access available without stairs and an on-site parking lot for visitors and occupants.

The property is positioned in Downtown Bethlehem and includes an underutilized lot identified for potential redevelopment. Its combination of updated interior areas, accessible entry, parking, and additional land creates a flexible office property profile for users evaluating professional or medical space.

Key Highlights

• Significant suite and common‑area upgrades completed within the past year
• No stairs required to enter the building
• On‑site parking lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$87,627

Cap Rate

5.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,752,540 $1.8M

Cap Rate 7%

$1,251,814 $1.3M

Cap Rate 9%

$973,633 $973.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$126.7K $10.56/SF

− Vacancy

−$9.9K −$0.82/SF

EGI

$116.8K $9.74/SF

− OpEx

−$29.2K −$2.43/SF

NOI

$87.6K $7.30/SF

Area

Lehigh County, PA

Vacancy

7.80%

Lease Rate

$10.56 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,752,540

Cap Rate 7%

$1,251,814

Cap Rate 9%

$973,633

Alternative Uses

Best Use

Office B

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,627 @ 7.0% cap · market cap 5.88%

Second Best

Healthcare Medical

$1.10M

$960.1K – $1.28M (±1% cap)

NOI $76,806 @ 7.0% cap · market cap 5.15%

Theoretical Best

Mixed Use

$1.76M

$1.54M – $2.06M (±1% cap)

NOI $123,525 @ 7.0% cap · market cap 8.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Helmold Marie E ... Physician Lianne Mcginn Bunn Physician David B. Vasily, ... Physician Advanced Foot Care ... Medical Clinic Kohler Alena Medical Clinic

Suggested Use

Top Pick Locksmith Pharmacy Carpet & Flooring Store Pet Grooming Service Auto Parts Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,192

Businesses Nearby

Explore this area Business Placement

Demographics for 18018, PA

32,388

Population

14,669

Households

2.2

Avg Household Size

39

Median Age

37%

College-Educated

92%

High-School Grad

5.2 sq mi

ZIP Area

6,228

Density / Sq Mi

$71,968

Median Household Income

$43,471

Median Earnings

$1,261

Median Rent

$224,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Recently upgraded suites and shared areas offer practical space for professional and medical uses.

Where is this office building located?

The property is located at 940 North New Street Bethlehem, PA.

What is the asking price?

The asking price for this property is $1,490,000.

What are key features of this property?

This property features: Significant suite and common‑area upgrades completed within the past year; No stairs required to enter the building; On‑site parking lot