Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23 Commerce Way Bethlehem, PA 18017-8916

    • Industrial properties
    • 34,272 SF
    • 4.52 lot acres
    OFF-MARKET
    Last Sale
    Oct 18, 2022
    $4,105,000
    Value Estimations
    $3,970,000
    Show details
    Cap Rate Potential
    6.3%
    Industrial properties
    Location Intelligence
    Property ID
    US73-5811441
    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

    • Newly Weds Foods / Food Processing Plant / Factory

    Property Details for 23 Commerce Way

    Year built
    1989
    Lot size
    4.52 lot acres
    Property size
    34,272 SF
    Zone code
    PIBD
    Property type
    Industrial properties
    APN
    M6 15 33 0214
    APU
    M615330214

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,045,000
      ML approach
      $3,670,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,245,000
      6.5%
      $3,920,000
      7%
      $3,640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,094,000
      Market price range: $1.79M - $4.97M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,325,000
      Current use
      RETAIL STORES
      $5,760,000
      Change: +73% Conversion: Moderate
      MEDICAL BUILDING
      $5,235,000
      Change: +57% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,890,000
      Change: +47% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,490,000
      Change: +35% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,155,000
      Change: +25% Conversion: Easy
      RESTAURANT
      $3,840,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethlehem
    County
    Northampton
    State
    Pennsylvania
    Longitude
    -75.374
    Latitude
    40.6726
    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
    $52,918
    $139,900
    $586,000
    $725,900
    -
    $279,800
    $1,172,000
    $1,451,800

    Comparable in this City

    • Value Estimation by Request
      7,888 SF

      1050 Illicks Ml Rd

      LUMBERYARD, BUILDING MATERIALS • 7,888 SF
      1050 Illicks Ml Rd, Bethlehem, PA 18017-3141
      View Details
    • Value Estimation
      $7,500,000
      53,011 SF

      187 Commerce Way

      INDUSTRIAL PARK • 53,011 SF
      187 Commerce Way, Bethlehem, PA 18017-8933
      View Details
    • Value Estimation
      $3,165,000
      38,330 SF

      9 Highland Ave

      INDUSTRIAL PARK • 38,330 SF
      9 Highland Ave, Bethlehem, PA 18017-9482
      View Details
    • Value Estimation
      $2,375,000
      38,801 SF

      261 Brodhead Rd

      INDUSTRIAL PARK • 38,801 SF
      261 Brodhead Rd, Bethlehem, PA 18017-8997
      View Details
    • Value Estimation
      $3,805,000
      59,286 SF

      272 Brodhead Rd

      INDUSTRIAL PARK • 59,286 SF
      272 Brodhead Rd, Bethlehem, PA 18017-8956
      View Details
    • Value Estimation
      $1,010,000
      15,927 SF

      3 Commerce Way

      INDUSTRIAL PARK • 15,927 SF
      3 Commerce Way, Bethlehem, PA 18017-8916
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      63,700 SF

      Class A Flex Building

      Single-story flex building in business park with easy highway access.
      90 S Commerce Way, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Light Industrial Portfolio Opportunity

      Light industrial property with easy access to major routes.
      87 S Commerce Way, Bethlehem, PA 18017
      View Details
    • Contact for pricing
      51,400 SF

      Bethlehem Industrial Building For Sale

      51,400 SF industrial building with easy highway access.
      1560 Valley Center Pkwy, Bethlehem, PA 18017
      View Details
    • Contact for pricing
      43,400 SF

      Bethlehem Flex Space Opportunity

      Flex space available in Bethlehem, Pennsylvania with easy highway access.
      1550 Valley Center Pkwy, Bethlehem, PA 18017
      View Details
    • Contact for pricing
      11,930 SF

      Industrial Property with Warehouse and House

      2.93 acres with warehouse and house near US-22.
      4554 Bath Pike, Bethlehem, PA 18017
      View Details
    • $2,900,000
      14.00 Acres

      Prime Commercial Land Opportunity

      14 acres of flat land ready for commercial development.
      6500 Hanoverville Rd, Bethlehem, PA 18017
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      117,000 SF

      Transit-Oriented Industrial Property For Sale

      Industrial property with highway frontage in a transit-oriented location.
      2260 Industrial Dr, Bethlehem, PA 18017
      View Details
    • $9 SF/Yr
      108,464 SF

      Bethlehem City Commercial Space Available

      Flex/industrial space near LVIA Airport and Route 22.
      2285 Avenue A, Bethlehem, PA 18017
      View Details
    • Contact for pricing
      4,966 SF

      Flex Building Near Route 22

      Single-story flex building with visibility from Route 22.
      5 Highland Ave, Bethlehem, PA 18017
      View Details
    • Contact for pricing
      31,400 SF

      Bethlehem Flex Space Available

      31,400 SF flex space available for rent.
      1550 Valley Center Pkwy, Bethlehem, PA 18017
      View Details
    • Contact for pricing

      Bethlehem Flex Space Available

      Flex space available in Bethlehem, Pennsylvania, with flexible floor plans.
      85 S Commerce Way, Bethlehem, PA 18017
      View Details
    • $11 SF/Yr

      Lehigh Valley Corporate Center Office

      Multi-tenant office and flex suites in park-like corporate center.
      1510 Valley Center Pkwy, Bethlehem, PA 18017
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23 Commerce Way
    Bethlehem, PA 18017-8916
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!