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Property profile & analytics
OFF-MARKET
Estimated value
$3,165,000
Warehouses
2224 Industrial Dr Bethlehem, PA 18017-2100
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US73-5669683
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1958
Total area
26,783 SF
Lot
2.41 ac (104,980 SF)
Zoning code
PI
APN
641836476374-1
UPID
US73-5669683
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
-
Revolution Church Church
-
Roots to Wings Play Daycare Center
-
Royal Tees Printing LLC Custom T-Shirt Store Embroidery Service
-
Andy H.A. Contractor, LLC. Construction Company General Contractor
-
ALLENTOWN GRANITE Building Supply Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.73M
Comparable Approach
Comparable
$3.48M
Blend (final)
Blend
$3.17M
Owner & transaction history
Chon Lam · 8 yrs held
Chon Lam
since 2017
7 recorded transactions
Zoning & alternative use
PI · Bethlehem, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.1M
+99.1%
Retail stores
$4.5M
+76.1%
Office building
$4.0M
+55.8%
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 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%
$4,040,000
6.5%
$3,730,000
7%
$3,465,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,555,000
Current use
RESTAURANT
$5,090,000
Change: +99% · Conversion: Difficult
RETAIL STORES
$4,500,000
Change: +76% · Conversion: Moderate
OFFICE BUILDING
$3,985,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,820,000
Change: +49% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,510,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,245,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±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
$118 / 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
$42,262
Tax year 2024
Assessed value
$1,488,100
Assessed 2024
Previous assessed
$1,488,100
+0.0% YoY
Effective rate
2.84%
On assessed value
Assessed land
$144,600
Assessed improvement
$1,343,500
Land market value
$144,600
Improvement market value
$1,343,500
Total market value
$1,488,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1958
Heating
HOT WATER
Stories
1
Total area
26,783 SF
Lot
2.41 ac (104,980 SF)
Zoning code
PI
APN
641836476374-1
UPID
US73-5669683
Jurisdiction
LEHIGH
Zoning & alternative use
PI · Bethlehem, PA
Zoning PI · permitted uses
PI · 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
WAREHOUSE, STORAGE Current
Est. value
$2.6M
RESTAURANT
Est. value
$5.1M
RETAIL STORES
Est. value
$4.5M
OFFICE BUILDING
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.2M
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1958
Heating
HOT WATER
Stories
1
Lot
2.41 ac
Current owner
From public records · entity-resolved
Chon Lam
Individual
Mailing address
2691 RUSTIC LN, HELLERTOWN, PA 18055-3140
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2017
—
Chon Lam
Lam,chon & Kun
Quit Claim Deed
related
—
Jun 5, 2017
—
Chon Lam
—
Deed
related
$250,000 · Lam Kun
Nov 16, 2007
$2,000,000
Chon Lam
Khoury,thomas G
Grant Deed
—
—
—
Chon Lam
—
Deed Of Trust
related
$100,000 · Merchants Bank
—
—
Chon Lam
—
Deed Of Trust
related
$100,000 · Merchants Bank
—
—
Chon Lam
—
Deed Of Trust
related
$490,000 · Kun Lam
—
—
Chon Lam
—
Deed Of Trust
related
$900,000 · Merchants Bank
—
—
Chon Lam
—
Deed Of Trust
related
$100,000 · Merchants Bank
—
—
Chon Lam
—
Deed Of Trust
related
$250,000 · Lam Kun
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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