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Property profile & analytics
FOR LEASE
Drug stores
1620 N Cedar Crest Blvd, Allentown, PA 18104
Entity Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US73-2485493
For Lease
1 / 2
$25 SF/Yr
1620 N Cedar Crest Blvd, Allentown, PA 18104
View Listing →
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2003
Total area
14,697 SF
Lot
5.63 ac (245,330 SF)
Zoning code
GC-1
APN
548734459616-1
UPID
US73-2485493
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
-
Norman's Hallmark Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.79M
Comparable Approach
Comparable
$2.47M
Blend (final)
Blend
$2.41M
Owner & transaction history
Kana Realty Corp · 16 yrs held
Kana Realty Corp
since 2009
2 recorded transactions
Zoning & alternative use
GC-1 · Allentown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.1M
+92.6%
Restaurant
$2.9M
+74.6%
Auto repair, garage
$2.8M
+71.1%
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 Allentown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Allentown 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%
$3,015,000
6.5%
$2,785,000
7%
$2,585,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,635,000
Current use
MEDICAL BUILDING
$3,145,000
Change: +93% · Conversion: Difficult
RESTAURANT
$2,850,000
Change: +75% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,795,000
Change: +71% · Conversion: Difficult
OFFICE BUILDING
$2,605,000
Change: +60% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,080,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,820,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$2.41M
Range $2.16M – $2.65M · ±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
$164 / 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
$106,094
Tax year 2024
Assessed value
$4,514,700
Assessed 2024
Previous assessed
$4,514,700
+0.0% YoY
Effective rate
2.35%
On assessed value
Assessed land
$2,097,600
Assessed improvement
$2,417,100
Land market value
$2,097,600
Improvement market value
$2,417,100
Total market value
$4,514,700
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Lease
Year built
2003
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
14,697 SF
Lot
5.63 ac (245,330 SF)
Zoning code
GC-1
APN
548734459616-1
UPID
US73-2485493
Jurisdiction
LEHIGH
Zoning & alternative use
GC-1 · Allentown, PA
Zoning GC-1 · permitted uses
GC-1 · Allentown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Allentown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$3.1M
RESTAURANT
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
2003
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
5.63 ac
Current owner
From public records · entity-resolved
Kana Realty Corp
Entity
Mailing address
3859 NAZARETH PIKE STE #201, BETHLEHEM, PA 18020-1102
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2018
—
Kana Realty Corp
—
Grant Deed
related
$9,500,000 · Wells Fargo Bk
Aug 26, 2009
$15,775,000
Kana Realty Corp
Pennsylvania R/e Inv Trust
Grant Deed
$11,830,000 · American Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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