502 Basin St, Unit 512 Allentown, PA 18103-3337
- Auto shops
- 9,040 SF
- 0.75 lot acres
Current Use by Public Records
- Stonewall Collision & Auto Painting / Auto Body Shop / Auto Painting
Property Details for 502 Basin St
- Year built
- 1979
- Lot size
- 0.75 lot acres
- Property size
- 9,040 SF
- Zone code
- B/LI
- Property type
- Auto shops
- APN
- 640648785598-1
- APU
- 6406487855981
Description
This exceptional investment opportunity presents a 9,745 square-foot auto shop located at 502 Basin St, Allentown, PA 18103. The property, built in 1979 and situated on a 0.75-acre lot, boasts a strong 6.57% cap rate and a substantial net operating income (NOI) of $138,010. Currently 100% occupied by Stonewall Collision, a reputable auto repair business with multiple locations, the property is under an absolute NNN lease with over 16.6 years remaining until June 29, 2041. The lease includes 2% annual rent bumps commencing in 2027 and a single 5-year renewal option. The asking price is $2,100,000, translating to a price per square foot of $215.50. The property benefits from a prime location, enjoying high traffic counts on Basin Road (24,609 VPD) and proximity to Highway 145 (15,975 VPD), as well as a thriving retail corridor featuring national brands like Wawa, Jiffy Lube, and McDonald's. The surrounding area showcases a strong demographic profile, with an average household income exceeding $77,000 within a five-mile radius. Furthermore, the property's proximity to Downtown Allentown (population 125,094) and Lehigh Valley International Airport (serving nearly one million passengers annually) enhances its appeal. This is a rare opportunity to acquire a stable, high-performing asset in a desirable location with significant long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,490,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,120,000
- 6.5%
- $2,355,000
- 7%
- $2,345,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,385,000
- Geo Method
- $2,105,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,980,000
- Retail
- $2,305,000
- Mixed-Use
- $2,345,000
- Hospitality
- $1,980,000
- Educational
- $1,870,000
- Residential Income
- $1,930,000
- Energy
- $2,515,000
- Income-Based Land
- $2,150,000
- Food Service
- $2,015,000
Location Insight
- Map
- Local Demand
- City
- Allentown
- County
- Lehigh
- State
- Pennsylvania
- Longitude
- -75.4585
- Latitude
- 40.5977
- CBSA code
- 10900
- CBSA name
- ALLENTOWN-BETHLEHEM-EASTON, PA-NJ METROPOLITAN STATISTICAL AREA
