529 Broad StBethlehem, PA 18018

Property Details for 529 Broad St

Year built

1915

Lot size

0.24 AC

Property size (Sq ft)

7,800 SF

Zone code

CL

Property type

Medical offices

Property subtype

Medical centers

APN

642738322572-1

APU

6427383225721

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,195,990

  6.5%

  $2,027,070

  7%

  $1,882,280

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,026,000

  Geo Method

  $1,019,150

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,046,670

  Retail / Commercial

  $2,064,180

  Mixed-Use / Specialty

  $2,048,210

  Hospitality / Lodging

  $1,491,490

  Institutional / Educational

  $2,126,230

  Residential Income

  $2,487,690

  Multifamily

  $3,031,360

  Automotive / Energy

  $1,822,490

  Parking / Income-Based Land

  $637,428

  Restaurant / Food Service

  $1,046,910

  Healthcare / Senior Housing

  $2,109,230

Location Insight

City

Bethlehem

County

Lehigh

State

Pennsylvania

Latitude

40.6222

Longitude

-75.3908

CBSA code

10900

CBSA name

ALLENTOWN-BETHLEHEM-EASTON, PA-NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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