Sign Up Successful!
You now have access to more from Realmo!
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

    615 Turner St Allentown, PA 18102-4139

    • Apartment buildings
    • 4,487 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1600601
    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

    • REBIS LIMITED LIABLITY CO / Commercial Cleaning Service

    Property Details for 615 Turner St

    Year built
    1890
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.08 lot acres
    Property size
    4,487 SF
    Zone code
    R-MH
    Property type
    Apartment buildings
    APN
    640701967466-1
    APU
    6407019674661

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $629,000
      Market price range: $420k - $629k
      AI Estimate
      $684,000
      Market price range: $472k - $684k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $510,000
      Current use
      MEDICAL BUILDING
      $960,000
      Change: +88% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $855,000
      Change: +67% Conversion: Difficult
      OFFICE BUILDING
      $475,000
      Change: -7% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $455,000
      Change: -11% Conversion: Moderate
      RETAIL STORES
      $425,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Allentown
    County
    Lehigh
    State
    Pennsylvania
    Longitude
    -75.4719
    Latitude
    40.6056
    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
    $8,499
    $42,000
    $207,300
    $249,300
    -
    $42,000
    $207,300
    $249,300

    Comparable in this City

    • Value Estimation
      $650,000
      3,168 SF

      628 6th St

      APARTMENT HOUSE (5+ UNITS) • 3,168 SF
      628 6th St, Allentown, PA 18102-1660
      View Details
    • Value Estimation
      $870,000
      6,041 SF

      801 Chew St

      APARTMENT HOUSE (5+ UNITS) • 6,041 SF
      801 Chew St, Allentown, PA 18102-4049
      View Details
    • Value Estimation by Request
      3,320 SF

      521 Railroad St

      APARTMENT HOUSE (5+ UNITS) • 3,320 SF
      521 Railroad St, Allentown, PA 18102-5158
      View Details
    • Value Estimation by Request
      4,392 SF

      426-428 Liberty St

      APARTMENT HOUSE (5+ UNITS) • 4,392 SF
      426-428 Liberty St, Allentown, PA 18102
      View Details
    • Value Estimation by Request
      2,838 SF

      417 Linden St

      APARTMENT HOUSE (5+ UNITS) • 2,838 SF
      417 Linden St, Allentown, PA 18102-3462
      View Details
    • Value Estimation by Request
      3,394 SF

      213 7th St

      APARTMENT HOUSE (5+ UNITS) • 3,394 SF
      213 7th St, Allentown, PA 18102-4056
      View Details

    Similar Nearby for Sale

    • $395,000
      2,404 SF

      Allentown Multifamily Investment

      Five-unit building, strong NOI.
      22 13Th St, Allentown, PA 18102
      View Details
    • New
      $700,000
      4,860 SF

      Fully Occupied Investment Property

      Six-unit apartment building with strong cash flow in Allentown City.
      1037 W Turner St, Allentown, PA 18102
      View Details
    • $502,000
      4,681 SF

      Renovated Mixed-Use Property in Allentown

      Three-unit mixed-use property with retail and residential spaces.
      438 N 7Th St, Allentown, PA 18102
      View Details
    • New
      $425,000
      0.06 Acres

      Allentown Multifamily Investment Opportunity

      Three-unit property with strong income and rent growth potential.
      318-320 N 7Th St, Allentown, PA 18102
      View Details
    • New
      $200,000
      1,330 SF

      Allentown Twin with Income Potential

      Semi-detached twin generating income with room to increase rents.
      736-738 N Lumber St, Allentown, PA 18102
      View Details
    • New
      $140,000
      0.03 Acres

      Allentown Rental Property with Upside

      Two-bedroom Allentown rental with income growth potential.
      423 N Hall St, Allentown, PA 18102
      View Details

    Similar Nearby for Lease

    • $1,175 /Mo

      Updated Apartment with Parking

      Updated 1-bedroom apartment with parking available for rent.
      1402 W Liberty St, Allentown, PA 18102
      View Details
    • $1,700 /Mo
      1,168 SF

      Remodeled 3-Bedroom Home For Rent

      Move-in ready, remodeled 3-bedroom home with new kitchen and flooring.
      444 N Law St, Allentown, PA 18102
      View Details
    • $13 SF/Yr
      142,441 SF

      Allentown Office Space For Lease

      Versatile 7,000 SF office space in Allentown, PA.
      1600 Lehigh Pkwy E, Allentown, PA 18102
      View Details
    • $2,950 /Mo

      Allentown Commercial Space For Rent

      Commercial space suitable for contractors and property management companies.
      316 N Madison St, Allentown, PA 18102
      View Details
    • $1,250 /Mo

      Allentown City Office Space Available

      Office space in Allentown City with parking and central AC.
      1343 W Linden St, Allentown, PA 18102
      View Details
    • $1,800 /Mo
      5,009 SF

      Allentown Retail Space For Lease

      Retail space in Allentown, PA, ideal for various businesses.
      322 Ridge Ave, Allentown, PA 18102
      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.
    615 Turner St
    Allentown, PA 18102-4139
    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.