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667 Union Blvd Allentown, PA 18109

Retail space Google Maps
7,356 SF 0.31 ac lot Built 1961
Individually Owned 17-yr Hold ~ Est. High Equity
Estimated value (blended)
$390k
Range $351k – $429k (±10%)
Property ID US73-0408825

Property summary

AI-generated overview

This exceptional 7,356-square-foot creative office building, constructed in 1961 and extensively renovated in 2014, presents a unique investment opportunity in Allentown, PA. The single-tenant property sits on a 0.31-acre lot (13,634 square feet) and boasts a flexible layout ideal for owner-occupancy or multi-tenant conversion. The two-story building, zoned B-3, features a welcoming open lobby on the first floor, complemented by two expansive open office areas perfect for collaborative workspaces. Three conference rooms of varying sizes cater to diverse meeting needs, while two private offices provide executive space. Ample storage, a convenient kitchenette, and multiple restrooms enhance functionality. The second floor offers a mix of private offices in various sizes, further enhancing the building's adaptability. A small basement provides additional storage. The property includes on-site parking for up to 14 vehicles, with supplementary on-street parking readily available. Its prime location on Union Boulevard offers easy access to downtown Allentown and Route 22, ensuring excellent visibility and convenient commuting for employees and clients. This well-maintained building presents a compelling opportunity for both owner-users and investors seeking a versatile and strategically located commercial property in a thriving area. The building's 0.54 FAR provides potential for future expansion or redevelopment.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1961
Total area 7,356 SF
Lot 0.31 ac (13,634 SF)
Zoning code B-3
APN 640778265126-1
UPID US73-0408825

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Insurance Agency
  • Insurance Agency
  • Corporate Office

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$782k
Blend (final) Blend
$390k

Owner & transaction history

since 2009
7 recorded transactions
2019
Price N/A
2017
Price N/A
2009
$505,000
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

B-3 · Allentown, PA
Zoning description

IG- or IM-zoned lots or on lots that were classified in the B-3 zoning district on the day before the effective date specified 10-11 CITY OF ALLENTOWN PA Zoning Ordinance Article 10 Signs 660-101 Signs in MX-C, MX-S, GX-…

General category COMMERCIAL
Top alternative use upside
Office building $1.3M +69.4%
Commercial (general) $910,000 +20.0%
Apartment house (5+ units) $805,000 +5.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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