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622 Union Blvd
Allentown, PA 18109
Office Property For Sale
Investment Highlights
- Over 90% leased on multi-year NNN leases
- Close to highways at a signalized corner near Airport Road
- Completely updated in 2023
Executive Summary
IDEAL FOR COMMERCIAL INVESTORS--Add this completely updated, two story building to your portfolio. Over 90% leased on multi-year NNN leases. The front half of the building consists of a retail space and a medical suite on the ground floor and two separated office areas on the upper floor, with shared amenities (large, virtual-meeting ready conference room, kitchenette, and two bathrooms). One of the two office areas is leased and the other area is listed for lease. The retail space and the medical suite on the ground floor are both leased. The medical suite has its own entrances, HVAC, security systems, and bathrooms and is self-contained for security reasons. The back half of the building is a 2-story, 5,500 SQFT, clear span warehouse with two drive-in doors, one loading dock, and a small office and is leased. The basement is a storage space with its own entrance and drive-in door, and is leased to a separate tenant. There are two dedicated bathrooms on ground floor for the retail space and the warehouse. This 1 acre property is zoned B-3 Highway Business, has 45 lined parking spots, and is situated at a signalized corner. Call for a tour today.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
18,600 SF
Building Class
B
Year Built/Renovated
1987/2023
Price
$3,400,000
Price Per SF
$182.80
Cap Rate
8.18%
NOI
$278,000
Percent Leased
90%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,300 SF
Building FAR
0.43
Lot Size
1.00 AC
Zoning
B-3 - This zoning provides locations for highway-oriented and other retail uses and services for large areas of the City and beyond
Parking
45 Spaces (2.42 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
- Conferencing Facility
- Security System
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 640778020334-1 | Improvements Assessment | $843,000 |
| Land Assessment | $381,600 | Total Assessment | $1,224,600 |
Property Taxes
Parcel Number
640778020334-1
Land Assessment
$381,600
Improvements Assessment
$843,000
Total Assessment
$1,224,600
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