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    Property profile & analytics

    1607 Lehigh E Pkwy, Unit 1625 Allentown, PA 18103-3001

    • High-rise multifamily apartments
    • 88,600 SF
    • 3.97 lot acres
    OFF-MARKET
    Last Sale
    Apr 24, 2020
    Value Estimations
    $13,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4208169
    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

    • High-rise multifamily apartments

    Property Details for 1607 Lehigh E Pkwy

    Year built
    2021
    Lot size
    3.97 lot acres
    Property size
    88,600 SF
    Zone code
    R-H
    Property type
    High-rise multifamily apartments
    APN
    549675056761-1
    APU
    5496750567611

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,625,000
      6.5%
      $12,575,000
      7%
      $11,680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,613,000
      Market price range: $8.07M - $12.6M
      AI Estimate
      $15,306,000
      Market price range: $9.01M - $15.3M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $10,255,000
      Current use
      MEDICAL BUILDING
      $18,960,000
      Change: +85% Conversion: Moderate
      RESTAURANT
      $17,185,000
      Change: +68% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $16,840,000
      Change: +64% Conversion: Difficult
      OFFICE BUILDING
      $11,995,000
      Change: +17% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $10,970,000
      Change: +7% Conversion: Moderate
      RETAIL STORES
      $9,845,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4867
    Latitude
    40.5891
    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
    $511,630
    $960,000
    $15,017,100
    $15,977,100
    -
    $960,000
    $15,017,100
    $15,977,100

    Comparable in this City

    • Value Estimation
      $18,595,000
      152,929 SF

      701 Harrison St, Unit 765

      HIGH-RISE APARTMENTS • 152,929 SF
      701 Harrison St, Allentown, PA 18103-8053
      View Details
    • Value Estimation
      $24,110,000
      205,966 SF

      1501-1605 Lehigh E Pkwy

      HIGH-RISE APARTMENTS • 205,966 SF
      1501-1605 Lehigh E Pkwy, Allentown, PA 18103
      View Details
    • Value Estimation by Request
      678 SF

      615 Reservoir St

      APARTMENT HOUSE (UNDER 5 UNITS) • 678 SF
      615 Reservoir St, Allentown, PA 18103-3230
      View Details
    • Value Estimation by Request
      2,812 SF

      1335-1339 Jute St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,812 SF
      1335-1339 Jute St, Allentown, PA 18103
      View Details
    • Value Estimation by Request
      1,440 SF

      1329 Byfield St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,440 SF
      1329 Byfield St, Allentown, PA 18103-4205
      View Details
    • Value Estimation by Request
      1,905 SF

      928 6th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,905 SF
      928 6th St, Allentown, PA 18103-3122
      View Details

    Similar Nearby for Sale

    • New
      $3,500,000
      44,196 SF

      Allentown City Apartment Conversion Opportunity

      40-unit apartment conversion project near I-78 and Lehigh St.
      2236 S 12Th St, Allentown, PA 18103
      View Details
    • New
      $3,500,000
      44,196 SF

      Allentown City Multifamily Conversion Opportunity

      40-unit apartment conversion project near I-78 and Lehigh St.
      2236 S 12Th St, Allentown, PA 18103
      View Details
    • $2,900,000

      Apartment Conversion Project Ready To Go

      40-unit apartment conversion project with existing structure and favorable location.
      2236 S 12Th St, Allentown, PA 18103
      View Details
    • $2,900,000
      44,000 SF

      44,000 SF Building in Allentown

      44,000 SF building approved for 40 apartments.
      2268 South 12Th St, Allentown, PA 18103
      View Details
    • $629,900
      3,176 SF

      Mixed-Use Property in Salisbury Township

      Well-maintained mixed-use property with office and residential units in Allentown.
      203 E Emmaus Ave, Allentown, PA 18103
      View Details
    • New
      $435,000
      0.04 Acres

      Allentown Investment Property: Three Units

      Fully occupied triplex in Allentown with staggered lease expirations.
      139 N 5Th St, Allentown, PA 18103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,328 SF

      Allentown Office Space Available

      Prime Allentown location, flexible suites.
      1150 Cedar Crest Blvd, Allentown, PA 18103
      View Details
    • $1,500 /Mo

      Allentown Retail Space Opportunity

      Retail space in Allentown, PA, with ventilation cooling.
      1911 S Bradford St, Allentown, PA 18103
      View Details
    • $25 SF/Yr

      Mixed-Use Property with Retail/Office Space

      Freestanding mixed-use property with retail/office space for lease.
      3144 Hamilton Blvd Unit, Allentown, PA 18103
      View Details
    • $20 SF/Yr

      Retail Space in South Mall

      Retail space available in Allentown's South Mall, near major routes.
      3300 Lehigh St, Allentown, PA 18103
      View Details
    • $17 SF/Yr

      Allentown Office Space For Rent

      5000 SF office space with elevator and parking lot.
      919 S 9Th St, Allentown, PA 18103
      View Details
    • $6 SF/Yr
      255,000 SF

      Allentown Industrial Space Available

      Flexible warehouse space, 1,560-21,000 SF
      1801 12Th St, Allentown, PA 18103
      View Details
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    Allentown, PA 18103-3001
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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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