Property profile

119 Technology Dr Bethlehem, PA 18015

OFF-MARKET
Office Spaces
Property ID
US73-0205356
44,592 SF 3.95 ac lot Built 1993
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 48,000-square-foot Class B industrial manufacturing facility, built in 1993, is situated on a 4-acre lot in Bethlehem, Pennsylvania (zip code 18015). The single-story building features 18'-22' ceiling heights and boasts three loading docks, making it ideal for efficient operations. The property is zoned IR (Industrial Redevelopment District) and includes a small mezzanine office area accessible by elevator. Utilities include public water/sewer, natural gas heating, and substantial power: 2000 Amps, 480 Volt, 3-Phase Heavy, with 1 DC and 2 AC power sources. Four on-site backup generators and two UPS battery backups ensure reliable power. The facility is well-equipped with 32 clean rooms, perfect for research and development, along with a machine shop, five conference rooms, a large breakroom, employee lockers, and showers. Ample parking is available. The property offers convenient access to major highways and Lehigh Valley International Airport, providing easy access to major northeastern metropolitan areas. Recent interior renovations, most notably in 2016, have maintained the building's high standard. Two points of ingress/egress are available via Technology Drive and E. 2nd Street. The property's location in South Bethlehem places it near Lehigh University, Ben Franklin Technology Partners, and Orasure Technology.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1993
Total area 44,592 SF
Lot 3.95 ac (172,062 SF)
Zoning code HI
APN P6 2 2F 0204
UPID US73-0205356

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Business Service Center Corporate Office

Location

119 Technology Dr Bethlehem, PA 18015-1327
Bethlehem metro Census 11300 ALLENTOWN-BETHLEHEM-EASTON, PA-NJ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$5.53M
CAP Approach CAP
$6.95M
Comparable Approach Comparable
$5.90M
Blend (final) Blend
$5.53M

Owner & transaction history

since 2024
Last sale
$5.5M
7 recorded transactions
2024
$5.5M
2008
Price N/A
2007
$3.5M
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

HI · Bethlehem, PA
Top alternative use upside
Retail stores $7.1M +69.4%
Medical building $6.8M +61.5%
Apartment house (5+ units) $5.6M +33.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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