Property profile

22 N 6Th St Allentown, PA 18101

FOR SALE
Restaurants
Property ID
US73-1055300-03
21,318 SF
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Property summary

AI-generated overview

Price Improvement! The resurgence of downtown Allentown, PA has been nationally noticed and applauded. There has been over $1 Billion in new development spurred by the creation of the one of a kind Neighborhood Improvement Zone (NIZ) legislation. New office buildings, retail, residential projects event centers and a world class sports and entertainment arena have pumped life into the downtown again. This gorgeous restaurant/ event/catering/ conference facility could be your opportunity to become part of the incredible success story. The six level structure boasts the only glass rooftop bar in Allentown. Each floor was elegantly designed utilizing the best finishes available. This restaurant opened as The Cosmopolitan and later transformed into Hook Seafood Restaurant. If anything the Cosmopolitan and Hook was ahead of it's time in this once struggling city. Those times have certainly changed and this versatile facility is primed to be re-opened as designed or possibly repositioned as a boutique hotel or maybe a high end residential project. Current Owner will consider Leasing the structure to a qualified Tenant.

Property profile

Verified
Property type Restaurants
Total area 21,318 SF
UPID US73-1055300-03

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

22 N 6Th St Allentown, PA 18101
Allentown metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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