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Property profile & analytics
OFF-MARKET
Estimated value
$10,560,000
Assisted living facilities
2029 Westgate Dr Bethlehem, PA 18017-7412
Entity Owned
3-yr Hold
Free & Clear
Property ID
US73-1181045
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1982
Total area
61,678 SF
Lot
2.08 ac (90,648 SF)
Zoning code
I
APN
641884278920-1
UPID
US73-1181045
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
-
Jasmine A. Rivera, PTA Physician
-
Courtney A. Nace, NP Physician
-
Bethlehem North Skilled Nursing and Rehabilitation Center Nursing Home
-
Shawn Anthony Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.56M
Owner & transaction history
2029 Westgate Drive Pa Owner LLC · 3 yrs held
2029 Westgate Drive Pa Owner LLC
since 2023
Last sale
$10.6M
5 recorded transactions
Zoning & alternative use
I · Bethlehem, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.5M
+218.3%
Retail stores
$6.8M
+187.5%
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 Bethlehem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bethlehem 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
$11,900,000
ML approach
$9,175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$7,480,000
Change: +218% · Conversion: Difficult
RETAIL STORES
$6,755,000
Change: +188% · Conversion: Difficult
Blend value · Realmo final
$10.56M
Range $9.50M – $11.62M · ±10% · vs last sale $10.59M (Jan 4 2023)
Last sale anchor
$10.59M
Jan 4 2023
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
$171 / 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
$166,958
Tax year 2024
Assessed value
$5,878,800
Assessed 2024
Previous assessed
$6,474,200
-9.2% YoY
Effective rate
2.84%
On assessed value
Assessed land
$679,500
Assessed improvement
$5,199,300
Land market value
$679,500
Improvement market value
$5,199,300
Total market value
$5,878,800
Applied tax rate
13.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1982
Heating
YES
Cooling
YES
Stories
4
Total area
61,678 SF
Lot
2.08 ac (90,648 SF)
Zoning code
I
APN
641884278920-1
UPID
US73-1181045
Jurisdiction
LEHIGH
Zoning & alternative use
I · Bethlehem, PA
Zoning I · permitted uses
I · Bethlehem, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bethlehem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$7.5M
RETAIL STORES
Est. value
$6.8M
RESTAURANT
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
1982
Heating
YES
Cooling
Yes
Stories
4
Lot
2.08 ac
Current owner
From public records · entity-resolved
2029 Westgate Drive Pa Owner LLC
Entity
Free & Clear · 3 yrs held
Mailing address
4500 DORR ST, TOLEDO, OH 43615-4040
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2023
$10,588,080
2029 Westgate Drive Pa Owner LLC
Well Pm Properties LLC
Deed
—
Nov 2, 2016
—
Hcp Properties LP
—
Deed
related
$1,500,000,000 · Barclays Bk/plc
Nov 7, 2008
$11,407,312
Hcr Manorcare Properties LLC
Manor Healthcare Corp
Grant Deed
related
—
—
—
Hcp Properties LP
—
Deed Of Trust
related
—
—
—
Hcp Properties LP
—
Deed Of Trust
related
$1,500,000,000 · * Other Institutional Lenders
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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