With 19 retail properties for sale in Allentown, investors have a wide range of opportunities to tap into the city's growing economy. As the third-most populous city in Pennsylvania, Allentown offers a diverse range of retail properties that cater to its population of approximately 130,000 residents. Retail properties in Allentown can represent a variety of investments, from strip centers and shopping plazas to freestanding buildings and mixed-use developments. The city's strategic location at the intersection of Interstate 78 and U.S. Route 22 makes it an attractive hub for retailers, with easy access to major markets in Philadelphia, New York City, and beyond. Additionally, Allentown's amenities, including the Lehigh Valley International Airport, LANta public bus system, and proximity to institutions like Lehigh Valley Hospital Cedar Crest and Muhlenberg College, make it an ideal location for businesses. The city's geography, with the Lehigh River running through it, also provides a unique opportunity for waterfront development and scenic views.
With a strong presence of major corporations like PPL Corporation and UGI Corporation, Allentown's economy is diversifying into service, health care, transportation, and warehousing industries. The city's Neighborhood Improvement Zone (NIZ) has also encouraged development and investment in the area. In addition to retail properties, Allentown offers a range of other property types, including shopping centers, restaurants, office properties, and hotels. Shopping centers in Allentown benefit from the city's high foot traffic and accessibility, while restaurants can capitalize on the city's growing food scene. Office properties in Allentown offer a range of options for businesses, from Class A office space to coworking facilities, and hotels in the city cater to visitors and business travelers alike. Overall, Allentown's retail properties for sale offer a unique opportunity for investors to tap into the city's growth and development.
What is the average cap rate for retail properties in Allentown?
When it comes to retail properties in Allentown, investors can expect an average cap rate of 6.55%, which is a key metric to consider when evaluating the potential return on investment. To learn more about how cap rates work and what they mean for your investment, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Allentown, Pennsylvania, the location and foot traffic of retail properties significantly impact their values. For instance, properties situated in high-demand areas like Center City, with its central business district and government buildings, or near popular attractions like Dorney Park & Wildwater Kingdom, tend to command higher prices due to their exposure to a large customer base, with an average price per square foot of $233 USD and an average size of 8,048 square feet.
