Perfect for a business owner, investor or someone who wants to redevelop a site in the heart of Allentownâ??s NIZ opportunity zone, this beautiful building features a gorgeous first floor retail / office space that is currently a salon, 3 upper floor apartments and a 30 car private parking lot. 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.
Turn Key restaurant in the heart of Allentown within walking distance to PPL Center. High traffic location offering dine in, delivery, and take out options. *Business name is not for sale* However all interior furnishings, kitchen equipment, and tangible items are included in sale price.
VIEWING SATURDAY THE 7th. READ IN FULL FOR DETAILS. This is building #3 of a 3-package investment portfolio. This is a rare find for investors as these buildings are some of the last legally grandfathered Rooming Houses in Allentown. This incredible portfolio expansion consists of 21 guest rooms within the 3 buildings. These rooms are consistently filled and most are long-term guests giving the new owner even more possibilities for higher future income. A breakdown of all costs and details is available upon request or from your agents. The other 2 property addresses that are included are 387 West Turner St (MLS #PALH2009718) and 625 W Allen St. (MLS #PALH2009720) There will only be 2 Days/Times to view all 3 buildings. VIEWINGS WILL BE: September 6th Friday and the 7th Saturday. We will be starting at 387 W Turner St... Anyone who would like to walk through the buildings will need to meet at 387 W Turner St. first between 10:30 and 10:55 AM... No exceptions, and no private viewings due to the number of tenant guests. All properties will come with a cleared CO before settlement unless otherwise negotiated. Agents: detailed info and instructions are attached to each MLS listing.
Broker's Open This Friday - 10/11//2024 12 pm to 2 pm, Walking Distance to PPL Center - visible from the building! ALL WALK IN DISTANCE- *Da Vinci Science Center Walk in Distance, *PPL Center, 2 blocks -VISIBLE FROM THE BUILDING! *Downtown Allentown Market 3 blocks* Miller Symphony Hall 4 blocks *Arts Park- Walk in Distance, 5 blocks *Allentown Art Museum, * Walk in Distance from NeW Hamilton Grand Plaza Condo( Opening Soon) Walk in Distance *Lehigh Valley Intl. Airport 5 miles , This Expansive building in the heart of downtown Allentown offers incredible potential for developers and investors alike. With a strategic location just steps away from the PPL Center, this property is ideal for a variety of commercial uses. Key Features: Parking Included: Convenient parking in the back, Multiple floors: Open first floor, second floor with multiple office spaces, Versatile space: Spacious basement with usable square footage, Zoned commercial: Perfect for retail, office, or mixed-use development. Historical use: Previously, it was a social club, church, restaurant, and bar! This is a rare opportunity to own a GEM in Allentown's rapidly growing downtown area. Don't miss out on this chance to transform this property into your next successful project. Contact the listing agent today for more details. Zoning information is attached to MLS.
+/- 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.
Ready to dive into the vibrant restaurant scene? Hereâs your chance to take over a thriving restaurant right in the bustling heart of Allentown! This opportunity includes all restaurant equipment, making it fully equipped and ready for immediate operation. The prime location, nestled in the center of Allentown, attracts a steady stream of customers and offers plenty of convenient parking for them. Additionally, a delivery van is available and can be negotiated separately from the sale. Note that this sale does not include real estate transfer; instead, it encompasses all restaurant equipment. The existing lease can be transferred to the new owner, subject to the owner's approval. Don't miss out on this fantastic opportunity to own a popular dining spot in a prime location. Serious inquiries only. *******************¿Listo para unirte al mundo de los restaurantes? ¡Aquà tienes la oportunidad de tener un restaurante exitoso en el corazón de Allentown! Esta oferta incluye todo lo que necesitas para empezar a trabajar de inmediato. Está en un lugar genial con mucho estacionamiento. También puedes comprar una van de adomicilio por separado. La venta no incluye el lugar, solo el equip que hay adentro del restaurante. El contrato de alquiler puede pasar a ser tuyo, si el dueño está de acuerdo. No dejes pasar esta oportunidad de tener un restaurante popular en un lugar increÃble. Por favor, solo contacta si estás realmente interesado.
Incredible redevelopment opportunity for a building directly next to the PPL tower. 3 Leasable floors that can be reconfigured. 6536 SF building with 12 car paved parking lot. Perfect for a business owner, investor or someone who wants to redevelop a site in the heart of Allentownâ??s NIZ opportunity zone. 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. Plans for building include 7 stories, but can be scaled taller
5 Buildings make up the nearly half-acre corner of Hamilton and Fountain in the same block as PPL Tower. Located in the incredible tax opportunity zone of the NIZ, this site is perfect for a major redevelopment project. Renderings are available for a major 11 story 300-unit hotel on this site with underground parking, or an office building or a mixed-use project. The property currently has 21 units incl 4 storefronts and 17 residential units with a Gross Income of $269,700, although it could be significantly higher and an NOI of over $200,000
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.
Building and lot is now available.
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.