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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Medical Office Space
322 17th St 332 Allentown, PA 18104-6709
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US73-1003722
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1989
Total area
7,912 SF
Lot
0.33 ac (14,400 SF)
Zoning code
R-M
APN
549656957151-1
UPID
US73-1003722
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
-
shakeir Book Store (Bike/Boat/Book/etc) Store
-
Ann M Freeman, DO Physician
-
David J Hanes, MD Physician
-
C W Riedel, DO Physician
-
St. Luke's Valley GYN Associates - Allentown Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.13M
Owner & transaction history
Dreamworks Realty LLC · 9 yrs held
Dreamworks Realty LLC
since 2016
3 recorded transactions
Zoning & alternative use
R-M · Allentown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
tract. The tract should have a central focal point, such as a landscaped central green space. (4) For portions of the PRD that are entirely residential, the sign regulations shall apply that would otherwise apply to the R-M district, or its successor zoning district. For other portions of the PRD, the sign regulations shall apply that would apply to the B-2…
Zone name
Medium Density Residential
General category
RESIDENTIAL
Zone area
1,692.95 ac
Source
Zoning Ordinance
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 Allentown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Allentown 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%
$1,155,000
6.5%
$1,065,000
7%
$990,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,695,000
Current use
RESTAURANT
$1,535,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,505,000
Change: -11% · Conversion: Difficult
OFFICE BUILDING
$1,405,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±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
$142 / 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
$40,417
Tax year 2024
Assessed value
$1,264,500
Assessed 2024
Previous assessed
$1,264,500
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$72,000
Assessed improvement
$1,192,500
Land market value
$72,000
Improvement market value
$1,192,500
Total market value
$1,264,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1989
Heating
YES
Cooling
YES
Stories
2
Total area
7,912 SF
Lot
0.33 ac (14,400 SF)
Zoning code
R-M
APN
549656957151-1
UPID
US73-1003722
Jurisdiction
LEHIGH
Zoning & alternative use
R-M · Allentown, PAZoning R-M · permitted uses
R-M · Allentown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
tract. The tract should have a central focal point, such as a landscaped central green space. (4) For portions of the PRD that are entirely residential, the sign regulations shall apply that would otherwise apply to the R-M district, or its successor zoning district. For other portions of the PRD, the sign regulations shall apply that would apply to the B-2 district, or its successor zoning district. (5) The regulations regarding developme
Zone name
Medium Density Residential
General category
RESIDENTIAL
Zone area
1,692.95 ac
Source
Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.7M
RESTAURANT
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1989
Heating
YES
Cooling
Yes
Stories
2
Lot
0.33 ac
Current owner
From public records · entity-resolved
Dreamworks Realty LLC
Entity
Mailing address
425 BUSINESS PARK LN, ALLENTOWN, PA 18109-9120
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2016
$1,711,000
Dreamworks Realty LLC
Park Leasing Co
Grant Deed
$1,283,250 · First Nat'l Bk/pa
—
—
Park Leasing Co
—
Deed Of Trust
related
$115,000 · East Penn Bank
—
—
Park Leasing Co
—
Deed Of Trust
related
$775,000 · American Bank
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.
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