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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2 Elizabeth Ave Bethlehem, PA 18018-2460

    • Investment properties
    • 2,318 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Mar 28, 2024
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    8.2%
    Investment properties
    Location Intelligence
    Property ID
    US73-5930351
    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

    • Carl's Corner / Cheesesteak Restaurant / American Restaurant

    Property Details for 2 Elizabeth Ave

    Year built
    1940
    Lot size
    0.05 lot acres
    Property size
    2,318 SF
    Zone code
    RM
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    N6SE4A 10 11 0204
    APU
    N6SE4A10110204

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $390,000
      6.5%
      $360,000
      7%
      $335,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $329,000
      Market price range: $241k - $458k
      AI Estimate
      $212,000
      Market price range: $132k - $319k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $345,000
      Current use
      RETAIL STORES
      $370,000
      Change: +8% Conversion: Easy
      MEDICAL BUILDING
      $355,000
      Change: +3% Conversion: Easy
      AUTO REPAIR, GARAGE
      $280,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethlehem
    County
    Northampton
    State
    Pennsylvania
    Longitude
    -75.3783
    Latitude
    40.6312
    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
    $4,906
    $21,200
    $34,300
    $55,500
    -
    $42,400
    $68,600
    $111,000

    Comparable in this City

    • Value Estimation
      $415,000
      5,222 SF

      25 Walnut St

      STORE/OFFICE (MIXED USE) • 5,222 SF
      25 Walnut St, Bethlehem, PA 18018
      View Details
    • Value Estimation
      $330,000
      6,176 SF

      14 Broad St

      STORE/OFFICE (MIXED USE) • 6,176 SF
      14 Broad St, Bethlehem, PA 18018-5919
      View Details
    • Value Estimation
      $305,000
      1,768 SF

      60 En St

      STORE/OFFICE (MIXED USE) • 1,768 SF
      60 En St, Bethlehem, PA 18018-4065
      View Details
    • Value Estimation
      $370,000
      15,996 SF

      515 Main St

      STORE/OFFICE (MIXED USE) • 15,996 SF
      515 Main St, Bethlehem, PA 18018-5853
      View Details
    • Value Estimation
      $530,000
      21,346 SF

      444 Main St

      STORE/OFFICE (MIXED USE) • 21,346 SF
      444 Main St, Bethlehem, PA 18018-5809
      View Details
    • Value Estimation
      $380,000
      13,803 SF

      45 Raspberry St

      STORE/OFFICE (MIXED USE) • 13,803 SF
      45 Raspberry St, Bethlehem, PA 18018-4068
      View Details

    Similar Nearby for Sale

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      $549,000
      5,850 SF

      Bethlehem Mixed-Use Commercial Opportunity

      Commercial property with apartments on West Broad Street, Bethlehem.
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      Mixed-Use Property in Bethlehem City

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      Unique mixed-use property with development potential in North Bethlehem.
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      Turnkey Investment Property, Bethlehem City

      Five-unit, fully renovated mixed-use property with high occupancy.
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      Bethlehem Industrial Property - Great Potential

      4,082 sq ft building on 0.29 acres. Ideal for various uses.
      431 Union Blvd, Bethlehem, PA 18018
      View Details

    Similar Nearby for Lease

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      8,900 SF

      Downtown Bethlehem Office Space

      Move-in ready office suite; prime location.
      574 Main St, Bethlehem, PA 18018
      View Details
    • Contact for pricing
      3,155 SF

      Bethlehem Office Space For Lease

      Office space with on-site amenities and convenient highway access.
      1 W Broad St, Bethlehem, PA 18018
      View Details
    • Contact for pricing
      30,501 SF

      Bethlehem Warehouse Space Available

      30,501 square foot warehouse space for lease.
      1745 Eaton Ave, Bethlehem, PA 18018
      View Details
    • New
      $1,250 /Mo

      Downtown Bethlehem Office Space

      Office space for rent in the heart of Bethlehem City.
      940 N New St, Bethlehem, PA 18018
      View Details
    • Contact for pricing
      83,512 SF

      Neighborhood Shopping Center For Rent

      Neighborhood shopping center with national retailers and high foot traffic.
      2144-2192 W Union Blvd, Bethlehem, PA 18018
      View Details
    • $22 SF/Yr
      1,000 SF

      Bethlehem Retail Space For Lease

      Retail spaces available in busy Bethlehem shopping center.
      2356-2410 Catasauqua Rd, Bethlehem, PA 18018
      View Details
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    2 Elizabeth Ave
    Bethlehem, PA 18018-2460
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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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