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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1053 3rd St Bethlehem, PA 18015-1923

    • Retail space
    • 3,572 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Jun 21, 2023
    Value Estimations
    $335,000
    Show details
    Cap Rate Potential
    10%
    Retail space
    Location Intelligence
    Property ID
    US73-1888692
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • La Favorita Grocery Store / Grocery Store / Spanish Restaurant

    Property Details for 1053 3rd St

    Year built
    1921
    Lot size
    0.11 lot acres
    Property size
    3,572 SF
    Zone code
    RM
    Property type
    Retail space
    APN
    P6NE3C 2 1 0204
    APU
    P6NE3C210204

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $460,000
      6.5%
      $425,000
      7%
      $395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $323,000
      Market price range: $324k - $808k
      AI Estimate
      $179,000
      Market price range: $180k - $606k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bethlehem
    County
    Northampton
    State
    Pennsylvania
    Longitude
    -75.3629
    Latitude
    40.6127
    CBSA code
    10900
    CBSA name
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,563
    $15,800
    $13,200
    $29,000
    -
    $31,600
    $26,400
    $58,000

    Comparable in this City

    • Value Estimation
      $430,000
      8,736 SF

      201 3rd St

      RETAIL STORES (PERSONAL SERVICES) • 8,736 SF
      201 3rd St, Bethlehem, PA 18015-1307
      View Details
    • Value Estimation
      $255,000
      252 SF

      329 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 252 SF
      329 Broadway, Bethlehem, PA 18015
      View Details
    • Value Estimation
      $380,000
      6,681 SF

      509 Wyandotte St

      RETAIL STORES (PERSONAL SERVICES) • 6,681 SF
      509 Wyandotte St, Bethlehem, PA 18015-1525
      View Details
    • Value Estimation
      $225,000
      1,771 SF

      327 New St

      RETAIL STORES (PERSONAL SERVICES) • 1,771 SF
      327 New St, Bethlehem, PA 18015-1654
      View Details
    • Value Estimation
      $850,000
      67,506 SF

      101 Founders Way

      RETAIL STORES (PERSONAL SERVICES) • 67,506 SF
      101 Founders Way, Bethlehem, PA 18015-1347
      View Details
    • Value Estimation
      $340,000
      3,252 SF

      3632 Rte 378

      RETAIL STORES (PERSONAL SERVICES) • 3,252 SF
      3632 Rte 378, Bethlehem, PA 18015-5332
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,760 SF

      Bethlehem City Retail Opportunity

      Retail space in growing South Bethlehem business district.
      510 Broadway, Bethlehem, PA 18015
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      Clewell St. Redevelopment Opportunity

      Mixed-use potential, 14,000 SF, Lehigh University proximity.
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    • $255,000
      2,154 SF

      Turnkey Automotive Repair Shop

      Profitable automotive repair/body shop in South Bethlehem, PA for sale.
      1139 Fortuna St, Bethlehem, PA 18015
      View Details
    • $255,000
      2,154 SF

      Turnkey Automotive Business in Bethlehem

      Established auto repair/body shop with equipment and parking.
      1139 Fortuna St, Bethlehem, PA 18015
      View Details
    • Contact for pricing
      2.93 Acres

      Bethlehem Retail Space - Route 378

      High-traffic retail space, excellent visibility.
      3600-3624 Unit Black Ri, Bethlehem, PA 18015
      View Details
    • Contact for pricing
      0.12 Acres

      Bethlehem Retail Space - Prime Location

      High-traffic retail space in Bethlehem, PA.
      25 3Rd St, Bethlehem, PA 18015
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,800 SF

      Retail Space in Saucon Valley

      1,800 SF retail space with high ceilings and amenities.
      3600 Pa-378, Bethlehem, PA 18015
      View Details
    • $18 SF/Yr
      127,631 SF

      Bethlehem Retail Space For Lease

      Retail space with high ceilings and easy loading in Bethlehem.
      3600-3624 Unit Black Riv Plz, Bethlehem, PA 18015
      View Details
    • $20 SF/Yr
      13,983 SF

      Bethlehem City Retail Space Available

      Retail space with open layout, high ceilings, and rear access.
      509 Wyandotte St, Bethlehem, PA 18015
      View Details
    • $13 SF/Yr

      Bethlehem Commercial Condo For Lease

      14,313 SF commercial condo in Riverport, Bethlehem City, PA
      15 W 2Nd St, Bethlehem, PA 18015
      View Details
    • $18 SF/Yr
      127,544 SF

      Retail Space in Saucon Valley

      1,800 SF retail space with high ceilings and amenities.
      3600 Route 378, Bethlehem, PA 18015
      View Details
    • $2,500 /Mo

      Adaptable Commercial Space on 4th

      Flexible commercial space near Lehigh University, ready for your vision.
      429 E 4Th St, Bethlehem, PA 18015
      View Details
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    Bethlehem, PA 18015-1923
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    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
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