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    $4,500,000

  • Available | MLS#: 568646
  • 0.42Acre

949 Hamilton Street Allentown City, PA 18101

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Listing provided courtesy of: KW Commercial

Overview

PRICE REDUCED!!! Downtown Allentown, PA development site/redevelopment opportunity For Sale located in the burgeoning Neighborhood Improvement Zone (NIZ). The NIZ is unprecedented State Tax legislation created in 2009. The program has spurred almost one billion dollars in new development in downtown Allentown since it's inception including PP&L Event Center (Home to the Lehigh Valley Phantoms), multiple high rise office buildings, restaurants, retail, apartments and much more. Virtually all taxes generated within the NIZ (except school taxes and city taxes) can be used to pay down debt service on any financed construction improvements within the zone. This is one of the largest properties in the downtown available to purchase and develop. The current structures consist of approximately 34,020 SF of retail, office and residential in varying condition. The lot size is .42 acres. The structures can be redeveloped or razed for new development.

General Features

  • Year Built 1922
  • Area Allentown-Central
  • County Lehigh
  • Property Sub-Type Category Commercial
  • Total Taxes 27689.39

Building Features

Property Features

  • Acres 0.418
  • Location Corner

Schools

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Price & Status History

Days on Market

  • This property has been listed on the market for 328 days
  • Average days-on-market for homes between $3,600,000 - $5,400,000 = 328 (in zip code 18101)

Location

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Home Valuation

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Community Demographics for Zip Code 18101 (Allentown City)

Housing Occupancy
  • Home Owners: 303 (16%)
  • Renters: 1,447 (77%)
  • Vacant: 126 (7%)
  • Total Housing Units: 1,876
Households
  • Average Household Size: 2.49
  • Housing Density (People per square mile): 13,626
Age Range (number of people)
  • Age 0-14: 1,426
  • Age 15-24: 723
  • Age 25-39: 932
  • Age 40-59: 1,112
  • Age 60-79: 500
  • Age 80+: 76
  • Total: 4,769

* All numbers in this section are 2016 projections provided by Geolytics Inc

School Information for 18101 (Allentown City)

Public Schools in Zip Code 18101 (Allentown City)

* This list of schools may not match the property above.

HARRISON-MORTON MS 137 NORTH 2ND ST ALLENTOWN, PA 18101 Phone: 4847655701 6th-8th
Grade Size Distribution
  • 6th: 275
  • 7th: 245
  • 8th: 243
School Population
  • Teachers: 65
  • Students per Teacher: 11.7
  • Students: 763
  • Male/Female: 378/385
School District
  • ALLENTOWN CITY SD
  • 31 SOUTH PENN ST ALLENTOWN, PA 18105
  • Phone: 4847654000
District Population
  • Schools: 22
  • Full-Time Teachers: 1158
  • Students per Teacher: 15.3
  • Staff: 2185
  • Students: 17766

* School data provided by US Department of Education


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* Rates and payment information listed in the mortgage calculator are provided as for general reference only. Specific mortgage information should be verified with a qualified lending professional