For Sale
$2,240,000

529 Broad St Bethlehem, PA 18018

7.00% Cap Rate, Net Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
134
This 7,841 square foot medical office building in Bethlehem, PA, offers a compelling investment opportunity. The property is a fee simple ownership (land and building) with a net lease to Lehigh Valley Health Network (LVHN), a major healthcare provider with nine hospital campuses and numerous other facilities across seven Pennsylvania counties. The current lease, commenced December 22, 2014, and expires December 22, 2029, includes a 5-year option, and features annual 2.0% rent bumps, ensuring consistent income growth and inflation hedging. The building, constructed in 1915 and renovated in 2014, sits on a 0.246-acre lot at a high-visibility corner location on West Broad Street, directly off Fred B. Rooney Highway (State Hwy 378), offering excellent access and visibility. The property's NOI is $156,820, resulting in a 7.00% cap rate. Landlord responsibilities are limited to roof, structure, and exterior maintenance, making this an ideal low-management investment. The tenant pays CAM, taxes, and insurance. The building's proximity (approximately 3 miles) to the 238-bed LVHN Muhlenberg campus further enhances its value and stability. This is a rare opportunity to acquire a well-located, net-leased medical office building with a strong tenant and significant upside potential.

Highlights

  • 7,841 SF medical office building in Bethlehem, PA, fee simple ownership.
  • Net lease to Lehigh Valley Health Network (LVHN) through December 2029, with a 5-year option.
  • 2% annual rent increases; current NOI $156,820, 7.00% cap rate.
  • High-visibility corner location on West Broad Street, near LVHN Muhlenberg campus.
  • Landlord responsible for roof, structure, and exterior; tenant pays CAM, taxes, and insurance.

Property Details for 529 Broad St

Property type
Retail properties, Office properties
Square Feet
7,841 SF
Year Built/Renovated
1915/2014
Lot Size (sq. ft)
10,716 SF

Location Insight

City
Bethlehem
County
Lehigh
State
Pennsylvania
Latitude
40.622447624707
Longitude
-75.391039630404

FAQs

What type of property is this?
Retail property - 7.00% Cap Rate, Net Lease, Strong Tenant
Where is the retail property located?
The property is located at 529 Broad St Bethlehem, PA.
What is the asking price?
The asking price for this property is $2,240,000.
What are key features of this property?
This property features: 7,841 SF medical office building in Bethlehem, PA, fee simple ownership.; Net lease to Lehigh Valley Health Network (LVHN) through December 2029, with a 5-year option.; 2% annual rent increases; current NOI $156,820, 7.00% cap rate.
How can I contact the broker?
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529 Broad St
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