Unmatched Investment Opportunity in Downtown Allentown! Prime location just steps away from PPL Centerâ??visible from the building! This expansive property sits in the heart of Allentownâ??s rapidly growing downtown, surrounded by top attractions, dining, and cultural landmarks, all within walking distance: PPL Center: 2 blocks â?? visible from the property! Da Vinci Science Center: Walkable distance Downtown Allentown Market: 3 blocks Miller Symphony Hall: 4 blocks Arts Park & Allentown Art Museum: 5 blocks New Hamilton Grand Plaza Condo (Opening Soon): Walking distance Lehigh Valley International Airport: Only 5 miles away This versatile building offers endless possibilities for developers and investors, whether youâ??re looking to create retail spaces, offices, or mixed-use developments.On-site Parking: Convenient parking at the rear of the property Multi-Level Potential: Open first floor with multiple office spaces on the second floor Spacious Basement: Additional usable square footage Zoned Commercial: Ideal for retail, office, or mixed-use purposes Rich History: Formerly used as a social club, church, restaurant, and bar This is a rare gem in one of Pennsylvaniaâ??s most dynamic urban centers. With booming development all around, seize this opportunity to shape the future of downtown Allentown! Contact listing agent, for more details. Zoning information is available in the MLS.
Perfect for a business owner, investor or someone who wants to redevelop a site in the heart of Allentownâ??s NIZ opportunity zone, this building features a first floor retail / office space that is currently a cigar shop, 2 large upper floor apartments and a private 12 car parking lot. The site is directly across from the new Archer Music Hall and the new Moxy Hotel and next to a new 5-story 78 unit complex and is surrounded by 450 new apartments, 14,000+ office workers, and entertainment venues including the PPL Center, there has been more an a billion in new development in this zone since the NIZ inception because most taxes generated in the NIZ can be used to pay down debt service on any financed construction improvements within the zone. Property is part of an approved 12-story residential development for 192 units, but Buyer would need to purchase the neighboring parcels in order to executed.
+/- 3,000 SF Restaurant and Lounge for lease. The space will be delivered in a v-shell condition with an existing hood system. This building features the ability to do take-out on the first floor, as well as dining and event planning on the second floor. The space also has an outdoor deck for additional seating and entertainment. The building is located one block from significant Development such as (NIZ) Neighborhood Improvement Zone. The NIZ is a State Tax district created in 2011 that is being utilized to encourage development and revitalization in the center city of Allentown, PA, and along the western side of the Lehigh River.
Incredible redevelopment opportunity for a corner building on a large 30â?? x 230â?? lot only 2 blocks from the PPL center in the heart of Allentownâ??s NIZ opportunity zone. This large 3 story building with off street parking may be reconfigured, or an investor or user may consider building a new project to take full advantage of all the benefits the opportunity zone offers. Surrounded by 450 new apartments, 14,000+ office workers, and entertainment venues including the PPL Center, there has been more an a billion in new development in this zone since the NIZ inception because most taxes generated in the NIZ can be used to pay down debt service on any financed construction improvements within the zone.
The six level structure boasts the only glass rooftop bar in Allentown. Each floor was elegantly designed utilizing the best finishes available. This restaurant opened as The Cosmopolitan and later transformed into Hook Seafood Restaurant. Cosmopolitan and Hook were ahead of their time in this once struggling city. Those times have certainly changed and this versatile facility is primed to be re-opened as designed or possibly repositioned as a boutique hotel or high end residential project. The resurgence of downtown Allentown has been nationally noticed and applauded, with $1 Billion+ in new development spurred by the creation of the one of a kind Neighborhood Improvement Zone (NIZ) legislation. New office buildings, retail, residential projects, event centers and a world class sports and entertainment arena have pumped life into the downtown again. This gorgeous restaurant/event/catering/conference facility could be your opportunity to become part of the incredible success story!
â?¢ Two-story retail/office building consisting of ±5,300 SF â?¢ Off-street parking lot at rear of building with 10 spaces â?¢ Electric updated in 2018 and 2022; Heating updated 2020 & 2022 â?¢ Building equipped with local alarm system including fire alarm â?¢ Storage area in basement â?¢ Located in City of Allentownâ??s NIZ (Neighborhood Improvement Zone) â?¢ Surrounding area residentially dense with many area amenities including PPL Center just three blocks away â?¢ Accessible via Routes 22, 309, and 222
The median home value in Allentown, PA is $241,400. This is lower than the county median home value of $284,100. The national median home value is $338,100. The average price of homes sold in Allentown, PA is $241,400. Approximately 38.51% of Allentown homes are owned, compared to 54.18% rented, while 7.31% are vacant. Allentown real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Allentown real estate agent to arrange a tour today!
Allentown, Pennsylvania 18101 has a population of 125,250. Allentown 18101 is less family-centric than the surrounding county with 24.36% of the households containing married families with children. The county average for households married with children is 29.75%.
The median household income in Allentown, Pennsylvania 18101 is $47,703. The median household income for the surrounding county is $69,440 compared to the national median of $69,021. The median age of people living in Allentown 18101 is 31.9 years.
The average high temperature in July is 85.9 degrees, with an average low temperature in January of 19.8 degrees. The average rainfall is approximately 46.6 inches per year, with 29.2 inches of snow per year.