701 Jordan StAllentown, PA 18102

Property Details for 701 Jordan St

Year built

1904

Property size (Sq ft)

4,120 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional Allentown, PA investment opportunity presents a unique blend of commercial and residential spaces at 701 N Jordan St, zip code 18102. The property, built in 1904, consists of two buildings totaling 4,120 square feet on a 2,988 square foot lot (APN: 02 10 G09SE2A 004 003). It features a ground floor convenience store and bar, offering high visibility and diverse income potential. Upstairs, three apartments provide consistent rental income, contributing to the property's multi-unit, mixed-use nature. Currently, the occupancy rate is 75% across the five units. The property is zoned for commercial, two-story converted first-floor store with apartments above. The asking price is $570,000, representing a price per square foot of $138.35 and a price per unit of $114,000. The property boasts a 7.00% cap rate with a gross lease type and a remaining lease term of one year. This prime location offers easy access to major highways and public transportation, ensuring high demand for both commercial and residential spaces. The property's strong potential for significant returns makes it an attractive investment for those seeking a diverse income stream in a thriving urban setting. The bar area is currently equipped and could be converted to a restaurant. This is a Class C property with a net rentable area of 57,037 square feet.

Location Insight

City

Allentown

County

Lehigh

State

Pennsylvania

Latitude

40.6141

Longitude

-75.4686

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