915 Hamilton St Allentown, PA 18109

Property Details for 915 Hamilton St

Year built

1900

Lot size

0.32 lot acres

Property size

18,124 SF

Property type

Mixed-use properties

Description

This exceptional mixed-use property, located at 915 E Hamilton St in Allentown, Pennsylvania, presents a compelling investment opportunity. The 0.32-acre lot encompasses five buildings totaling 18,124 square feet, constructed in 1900 and featuring three stories. The property currently boasts 21 units, including four storefronts and seventeen residential units, generating a gross income of $269,700 and a net operating income (NOI) exceeding $200,000, with a 4.44% cap rate. The asking price is $4,950,000, translating to $273.12 per square foot. Situated on a corner lot at the intersection of Hamilton and Fountain Streets, this property benefits from its proximity to the PPL Tower and its location within a designated New Markets Tax Credit (NMTZ) opportunity zone, making it ideal for substantial redevelopment. Conceptual plans are available for a significant expansion, potentially including an eleven-story, 300-unit hotel with underground parking, or a new office building, or a larger mixed-use development. The property's APN is 549790706678001. This is a rare chance to acquire a substantial mixed-use asset with significant upside potential in a rapidly developing area of Allentown. The current income stream provides a solid foundation for future growth and redevelopment possibilities.

Location Insight

City

Allentown

County

Lehigh

State

Pennsylvania

Longitude

-75.4394

Latitude

40.6125