2640 Walbert Ave Allentown, PA 18104-1851
- Specialty properties
- 1,672 SF
- 0.40 lot acres
May 15, 2024
Current Use by Public Records
- Allentown Animal Clinic / Animal Hospital
- Elena Sawickij, VMD / Veterinarian
- Tuhacek Kathy DVM / Veterinarian
Property Details for 2640 Walbert Ave
- Year built
- 1971
- Lot size
- 0.40 lot acres
- Property size
- 1,672 SF
- Zone code
- OC
- Property type
- Specialty properties
- APN
- 548765107711-1
- APU
- 5487651077111
Description
This exceptional investment opportunity presents the fee simple interest in a 1,672 square foot, NNN-leased Allentown Animal Clinic. Located at 2640 Walbert Ave, Allentown, PA 18104, this single-tenant property boasts a 9% cap rate and a strong NOI of $96,489. The current lease, with Community Veterinary Partners, has approximately 2.9 years remaining on the initial 10-year term, followed by three 5-year renewal options. Annual rent increases of 2% are built into the lease, ensuring consistent income growth. The property sits on a 0.38-acre lot with 15 parking spaces and benefits from high visibility due to significant street frontage and a pylon sign. The location enjoys substantial daily traffic on Walbert Avenue (8,737 vehicles) and is situated near major retailers like Target, Starbucks, and Dunkin'. The 5-mile trade area has a population of 227,059 and 96,948 daytime employees, with an average household income of $95,806. Built in 1971, this property is a low-management investment, ideal for passive investors, with the landlord responsible only for the roof, foundation, walls, structure, utility lines and cables, and sewer. The asking price is $1,072,000, representing a price per square foot of $641.15. APN: 548765107711-1.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Allentown
- County
- Lehigh
- State
- Pennsylvania
- Longitude
- -75.5249
- Latitude
- 40.6161
- CBSA code
- 10900
- CBSA name
- ALLENTOWN-BETHLEHEM-EASTON, PA-NJ METROPOLITAN STATISTICAL AREA
