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Property profile & analytics
OFF-MARKET
Estimated value
$8,675,000
Industrial properties
2115 Spillman Dr Bethlehem, PA 18015-2187
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US73-2004528
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL PARK
Year built
2014
Total area
116,400 SF
Lot
6.61 ac (287,932 SF)
Zoning code
H1
APN
P7 6 6-17 0204
UPID
US73-2004528
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
-
Pretium Packaging Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.68M
Owner & transaction history
Triple Net Invs Xxviii LP · 13 yrs held
Triple Net Invs Xxviii LP
since 2013
3 recorded transactions
Zoning & alternative use
H1 · Bethlehem, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.1M
+24.9%
Restaurant
$13.0M
+15.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$11,295,000
Current use
AUTO REPAIR, GARAGE
$14,105,000
Change: +25% · Conversion: Easy
RESTAURANT
$13,035,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,005,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$8.68M
Range $7.81M – $9.54M · ±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
$75 / 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
$162,585
Tax year 2024
Assessed value
$1,839,400
Assessed 2024
Previous assessed
$1,839,400
+0.0% YoY
Effective rate
8.84%
On assessed value
Assessed land
$359,700
Assessed improvement
$1,479,700
Land market value
$719,400
Improvement market value
$2,959,400
Total market value
$3,678,800
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
Industrial properties
Use group
INDUSTRIAL PARK
Status
Off-Market
Year built
2014
Heating
YES
Cooling
CENTRAL
Total area
116,400 SF
Lot
6.61 ac (287,932 SF)
Zoning code
H1
APN
P7 6 6-17 0204
UPID
US73-2004528
Jurisdiction
NORTHAMPTON
Zoning & alternative use
H1 · Bethlehem, PA
Zoning H1 · permitted uses
H1 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$11.3M
AUTO REPAIR, GARAGE
Est. value
$14.1M
RESTAURANT
Est. value
$13.0M
COMMERCIAL (GENERAL)
Est. value
$11.0M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
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
2014
Heating
YES
Cooling
Yes
Lot
6.61 ac
Current owner
From public records · entity-resolved
Triple Net Invs Xxviii LP
Entity
Mailing address
171 STATE RTE 173RD STE #201, ASBURY, NJ 08802-1365
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2014
—
Triple Net Invs Xxviii LP
—
Grant Deed
related
$4,750,000 · Connectone Bk
Jun 6, 2013
$924,742
Triple Net Invs Xxviii LP
Lehigh Valley Indl Park INC
Grant Deed
—
—
—
Triple Net Invs Xxviii LP
—
Deed Of Trust
related
$874,705 · Manufacturers & Traders Tr
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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