3735 Nazareth Rd, Easton, PA 18045

Property Details for 3735 Nazareth Rd

Property type

Office Spaces

Property subtype

Medical Office Space

Description

This exceptional 8,160-square-foot medical office condo, located at 3735 Nazareth Rd in Easton, Pennsylvania, presents a compelling investment opportunity. The property is currently 100% occupied under a triple-net (NNN) lease with Lehigh Valley Health Network, a leading healthcare provider, extending to February 28, 2030, offering a remaining lease term of 5.3 years. The tenant, an established physician group with over 60 years of experience and employing 8 doctors, recently completed over $1,000,000 in tenant improvements, including new flooring, interior renovations, and the creation of six exam rooms, a provider office, bathroom, and conference room. The suite also features an upgraded nurse station, phone room, and workstations. The property boasts a strong net operating income (NOI) of $155,040, resulting in an attractive 8.60% cap rate. This prime location benefits from its proximity to the Lower Nazareth Commons shopping center, featuring major retailers, and is strategically situated near Lehigh Valley Health Network's new hospital and medical campus. Easton, PA demonstrates robust economic indicators, including a high average household income of $115,238 within a 3-mile radius and a 16.1% population increase over the past three years. The asking price is $1,802,790, translating to $220.93 per square foot. This investment offers a stable, high-performing asset in a thriving market with significant upside potential. There are no rent bumps or lease options included in the current lease agreement.

Location Insight

City

Easton

County

Northampton

State

Pennsylvania

Longitude

-75.2816

Latitude

40.7105