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Property profile & analytics
OFF-MARKET
Estimated value
$2,005,000
Warehouses
1621 Race St, Allentown, PA 18109-9569
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-2736761
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Total area
19,000 SF
Lot
2.69 ac (116,959 SF)
Zoning code
PIO
APN
640981318416-1
UPID
US73-2736761
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.23M
CAP Approach
CAP
$1.81M
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$2.01M
Owner & transaction history
Lehigh Northampton Airport Authorit · 4 yrs held
Lehigh Northampton Airport Authorit
since 2021
Last sale
$2.0M
4 recorded transactions
Zoning & alternative use
PIO · Allentown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.3M
+139.8%
Commercial (general)
$2.4M
+69.8%
Apartment house (5+ units)
$2.1M
+49.8%
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
$2,175,000
ML approach
$2,230,000
CAP Approach
CAP Return
Estimation
6%
$1,960,000
6.5%
$1,805,000
7%
$1,680,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,385,000
Current use
OFFICE BUILDING
$3,325,000
Change: +140% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,355,000
Change: +70% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,075,000
Change: +50% · Conversion: Difficult
RETAIL STORES
$1,960,000
Change: +42% · Conversion: Moderate
Blend value · Realmo final
$2.01M
Range $1.80M – $2.21M · ±10% · vs last sale $1.97M (Jul 28 2021)
Last sale anchor
$1.97M
Jul 28 2021
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
$106 / 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
Assessed value
$1,262,800
Assessed 2024
Previous assessed
$1,262,800
+0.0% YoY
Assessed land
$241,700
Assessed improvement
$1,021,100
Land market value
$241,700
Improvement market value
$1,021,100
Total market value
$1,262,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Heating
SPACE
Stories
1
Total area
19,000 SF
Lot
2.69 ac (116,959 SF)
Zoning code
PIO
APN
640981318416-1
UPID
US73-2736761
Jurisdiction
LEHIGH
Zoning & alternative use
PIO · Allentown, PA
Zoning PIO · permitted uses
PIO · 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
WAREHOUSE, STORAGE Current
Est. value
$1.4M
OFFICE BUILDING
Est. value
$3.3M
COMMERCIAL (GENERAL)
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1988
Heating
SPACE
Stories
1
Lot
2.69 ac
Current owner
From public records · entity-resolved
Lehigh Northampton Airport Authorit
Individual
Mailing address
3311 AIRPORT RD, ALLENTOWN, PA 18109-3074
Ownership since
2021
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
Jul 28, 2021
$1,968,000
Lehigh Northampton Airport Authorit
Dosdarbs LLC
Special Warranty Deed
—
Jul 25, 2019
$1,525,000
Dosdarbs LLC
Bomboy,paula C
Grant Deed
$1,243,750 · Peoples Sec Bk&tr
—
—
Paula C Bomboy
—
Deed Of Trust
related
$150,000 · Lafayette Ambassador Bank
—
—
Paula C Bomboy
—
Deed Of Trust
related
$293,400 · Lafayette Ambassador 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.
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