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    Property profile & analytics

    229 22Nd St Easton, PA 18042

    • Office Properties & Spaces
    • 1,862 SF
    • 0.15 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Aug 10, 2023
    $180,000
    Value Estimations
    $210,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-4051384
    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

    • Guenther Frank / Counselor

    Property Details for 229 22Nd St

    Year built
    1956
    Lot size
    0.15 lot acres
    Property size
    1,862 SF
    Zone code
    H1
    Property type
    Office Properties & Spaces
    APN
    L9SW1C 21 1 0837
    APU
    L9SW1C2110837

    Description

    This exceptional 1,862 square foot single-tenant office building, situated in Northampton County, presents a unique investment opportunity. Built in 1956, the property boasts a convenient single-story layout, offering easy accessibility and functionality. Recent upgrades include the installation of new windows and exterior doors, enhancing both energy efficiency and curb appeal. Ample parking is available on-site and on the street, ensuring convenience for staff and clients. The building is fully handicap accessible, catering to a diverse range of potential occupants. Essential utilities are readily available, including public water and sewer connections. Its strategic location directly across from St. Luke’s Hospital – Easton Campus provides unparalleled visibility and accessibility for medical professionals or businesses seeking proximity to a major healthcare facility. The property is zoned H1, offering flexibility for various professional uses. The building's 1,862 square feet of vacant space presents a blank canvas for customization, allowing prospective tenants to tailor the space to their specific needs. This is a rare opportunity to acquire a well-maintained, strategically located office building in a thriving area. The property's combination of modern upgrades, convenient amenities, and prime location makes it an ideal choice for a variety of businesses. The APN is L9SW1C 21 1 0837.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $180,000
      ML approach
      $215,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $315,000
      6.5%
      $290,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $212,000
      Market price range: $75.7k - $213k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $230,000
      Current use
      MEDICAL BUILDING
      $285,000
      Change: +23% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Easton
    County
    Northampton
    State
    Pennsylvania
    Longitude
    -75.2449
    Latitude
    40.6868
    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
    $6,530
    $20,500
    $47,400
    $67,900
    -
    $41,000
    $94,800
    $135,800

    Comparable in this City

    • Value Estimation
      $340,000
      4,896 SF

      830 Lehigh St

      OFFICE (GENERAL) • 4,896 SF
      830 Lehigh St, Easton, PA 18042-4328
      View Details
    • Value Estimation
      $265,000
      4,080 SF

      1723 Northampton St

      OFFICE (GENERAL) • 4,080 SF
      1723 Northampton St, Easton, PA 18042-3133
      View Details
    • Value Estimation
      $835,000
      5,582 SF

      222 Spg Gdn St

      OFFICE (GENERAL) • 5,582 SF
      222 Spg Gdn St, Easton, PA 18042
      View Details
    • Value Estimation
      $275,000
      2,001 SF

      155 Bushkill Dr

      OFFICE (GENERAL) • 2,001 SF
      155 Bushkill Dr, Easton, PA 18042-1877
      View Details
    • Value Estimation
      $685,000
      4,764 SF

      2100 Fry St

      OFFICE (GENERAL) • 4,764 SF
      2100 Fry St, Easton, PA 18042-3815
      View Details
    • Value Estimation
      $245,000
      3,626 SF

      801 Walnut Ave

      OFFICE (GENERAL) • 3,626 SF
      801 Walnut Ave, Easton, PA 18042-4334
      View Details

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    229 22Nd St
    Easton, PA 18042
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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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