Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1129 Hanover Ave, Unit 1211 Allentown, PA 18109-2014

    • Office buildings
    • 3,447 SF
    • 3.94 lot acres
    OFF-MARKET
    Last Sale
    Mar 27, 2024
    $1,365,000
    Value Estimations
    $1,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1427291
    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

    • Office buildings

    Property Details for 1129 Hanover Ave

    Year built
    1955
    Lot size
    3.94 lot acres
    Property size
    3,447 SF
    Zone code
    B-3
    Property type
    Office buildings
    APN
    641706676528-1
    APU
    6417066765281

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,365,000
      ML approach
      $1,365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,067,000
      Market price range: $285k - $1.07M

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

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4365
    Latitude
    40.619
    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
    $63,313
    $772,600
    $800,400
    $1,573,000
    -
    $772,600
    $800,400
    $1,573,000

    Comparable in this City

    • Value Estimation
      $2,165,000
      26,400 SF

      1047 Plymouth St

      OFFICE BUILDING • 26,400 SF
      1047 Plymouth St, Allentown, PA 18109-1539
      View Details
    • Value Estimation by Request
      173,706 SF

      100 Cascade Dr

      OFFICE BUILDING • 173,706 SF
      100 Cascade Dr, Allentown, PA 18109-9527
      View Details
    • Value Estimation
      $2,645,000
      20,374 SF

      764 Roble Rd

      OFFICE BUILDING • 20,374 SF
      764 Roble Rd, Allentown, PA 18109-9110
      View Details
    • Value Estimation by Request
      34,736 SF

      861 Marcon Blvd

      OFFICE BUILDING • 34,736 SF
      861 Marcon Blvd, Allentown, PA 18109-9577
      View Details
    • Value Estimation
      $2,855,000
      43,600 SF

      999 Postal Rd

      OFFICE BUILDING • 43,600 SF
      999 Postal Rd, Allentown, PA 18109-9516
      View Details
    • Value Estimation
      $1,560,000
      13,628 SF

      1670 Race St

      OFFICE BUILDING • 13,628 SF
      1670 Race St, Allentown, PA 18109-9580
      View Details

    Similar Nearby for Sale

    • $1,600,000
      4,000 SF

      Allentown Office Building For Sale

      Office building for sale, two blocks east of airport.
      1027 Union Blvd, Allentown, PA 18109
      View Details
    • $999,000
      4,228 SF

      Allentown Commercial Investment Opportunity

      Profitable investment property with long-term tenant in prime location.
      1007 Union Blvd, Allentown, PA 18109
      View Details
    • $999,000
      4,228 SF

      Allentown City Investment Opportunity

      Leased building near upcoming waterfront development, ideal for investment.
      1007 Union Blvd, Allentown, PA 18109
      View Details
    • $999,000
      4,228 SF

      Allentown Commercial Building For Sale

      Profitable investment opportunity with long-term tenant in Allentown, PA.
      1007 Union Blvd, Allentown, PA 18109
      View Details
    • $12,000,000
      7,356 SF

      Allentown Creative Office Building

      7,356 SF Office, Owner/User Opportunity
      667 Union Blvd, Allentown, PA 18109
      View Details
    • $550,000
      3,679 SF

      Allentown Executive Office Building

      Prime Allentown location, 3,679 SF office space.
      1102 Union Blvd, Allentown, PA 18109
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      101,016 SF

      Allentown City Office Space Available

      Professional office building near ABE Airport in LVIP III.
      968 Postal Rd, Allentown, PA 18109
      View Details
    • $12 SF/Yr

      Professional Office Building Near Airport

      Well-maintained office building with glass curtain wall construction near ABE Airport.
      968 Postal Rd, Allentown, PA 18109
      View Details
    • Contact for pricing
      30,140 SF

      Allentown Office Building For Rent

      30,140 SF office building with convenient highway access.
      954 Marcon Blvd, Allentown, PA 18109
      View Details
    • $18 SF/Yr
      7,356 SF

      Well-Maintained Office Building For Lease

      Single-tenant office building with natural light, convenient location, and parking.
      667 Union Blvd, Allentown, PA 18109
      View Details
    • Contact for pricing
      130,000 SF

      Allentown Office Complex For Lease

      World-class office complex with exceptional amenities in Allentown, Pennsylvania.
      1110 American Pkwy, Allentown, PA 18109
      View Details
    • Contact for pricing
      70,612 SF

      Allentown Commons Medical Office Space

      Prime Lehigh County medical suites available.
      1302 Hanover Ave, Allentown, PA 18109
      View Details
    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.
    1129 Hanover Ave, Unit 1211
    Allentown, PA 18109-2014
    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.