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Property profile & analytics
OFF-MARKET
Estimated value
$3,445,000
Office Spaces
116 Research Dr Bethlehem, PA 18015-4731
Individually Owned
13-yr Hold
Free & Clear
Property ID
US73-3868959
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1963
Total area
44,762 SF
Lot
9.7 ac (422,532 SF)
Zoning code
CM
APN
P6 3 3 0204
UPID
US73-3868959
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Azevan Pharmaceuticals Factory Production Facility
-
Levolta Pharmaceuticals Factory Production Facility
-
ViiHealth Inc. Factory Production Facility
-
Hager Biosciences, LLC Factory Production Facility
-
Olorin Chemical Chemical Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.31M
Blend (final)
Blend
$3.45M
Owner & transaction history
Lehigh University · 13 yrs held
Lehigh University
since 2013
4 recorded transactions
Zoning & alternative use
CM · Bethlehem, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.6M
+33.0%
Auto repair, garage
$5.4M
+28.2%
Restaurant
$5.0M
+18.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bethlehem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bethlehem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,230,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,625,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,425,000
Change: +28% · Conversion: Difficult
RESTAURANT
$5,010,000
Change: +18% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,345,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$3.45M
Range $3.10M – $3.79M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$50,471
Tax year 2024
Assessed value
$571,000
Assessed 2024
Previous assessed
$571,000
+0.0% YoY
Effective rate
8.84%
On assessed value
Assessed land
$68,000
Assessed improvement
$503,000
Land market value
$136,000
Improvement market value
$1,006,000
Total market value
$1,142,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1963
Heating
YES
Cooling
CENTRAL
Stories
1
Units
1
Total area
44,762 SF
Lot
9.7 ac (422,532 SF)
Zoning code
CM
APN
P6 3 3 0204
UPID
US73-3868959
Jurisdiction
NORTHAMPTON
Zoning & alternative use
CM · Bethlehem, PA
Zoning CM · permitted uses
CM · Bethlehem, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bethlehem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$5.4M
RESTAURANT
Est. value
$5.0M
INDUSTRIAL (GENERAL)
Est. value
$4.3M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RESTAURANT
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1963
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
9.7 ac
Current owner
From public records · entity-resolved
Lehigh University
Individual
Free & Clear · 13 yrs held
Mailing address
116 RESEARCH DR, BETHLEHEM, PA 18015-4731
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2016
—
Ben Franklin Technology Ptrs & N
—
Deed
related
$1,700,031 · Private Individual
May 10, 2013
$1,250,000
Lehigh University
Arcelormittal Steelton LLC
Grant Deed
—
Jul 30, 2010
—
Ben Franklin Technology Ptrs Of N
—
Grant Deed
related
$6,000,000 · United Sts Dept/cmrc Econo
—
—
Ben Franklin Technology Ptrs & N
—
Deed Of Trust
related
$1,700,031 · Private Individual
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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