529 Broad StBethlehem, PA 18018

For Sale
$2,240,000

7.00% Cap Rate, Net Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
94
This 7,841 square foot medical office building in Bethlehem, PA, offers a compelling investment opportunity. The property is a fee simple ownership (land and building) with a net lease to Lehigh Valley Health Network (LVHN), a major healthcare provider with nine hospital campuses and numerous other facilities across seven Pennsylvania counties. The current lease, commenced December 22, 2014, and expires December 22, 2029, includes a 5-year option, and features annual 2.0% rent bumps, ensuring consistent income growth and inflation hedging. The building, constructed in 1915 and renovated in 2014, sits on a 0.246-acre lot at a high-visibility corner location on West Broad Street, directly off Fred B. Rooney Highway (State Hwy 378), offering excellent access and visibility. The property's NOI is $156,820, resulting in a 7.00% cap rate. Landlord responsibilities are limited to roof, structure, and exterior maintenance, making this an ideal low-management investment. The tenant pays CAM, taxes, and insurance. The building's proximity (approximately 3 miles) to the 238-bed LVHN Muhlenberg campus further enhances its value and stability. This is a rare opportunity to acquire a well-located, net-leased medical office building with a strong tenant and significant upside potential.

Highlights

  • 7,841 SF medical office building in Bethlehem, PA, fee simple ownership.
  • Net lease to Lehigh Valley Health Network (LVHN) through December 2029, with a 5-year option.
  • 2% annual rent increases; current NOI $156,820, 7.00% cap rate.
  • High-visibility corner location on West Broad Street, near LVHN Muhlenberg campus.
  • Landlord responsible for roof, structure, and exterior; tenant pays CAM, taxes, and insurance.

Property Details for 529 Broad St

Property type
Other retail properties, Other office properties
Square Feet
7,841 SF
Year Built/Renovated
1915/2014
Lot Size (sq. ft)
10,716 SF

Location Insight

City
Bethlehem
County
Lehigh
State
Pennsylvania
Latitude
40.622447624707
Longitude
-75.391039630404
529 Broad St, Bethlehem, Pennsylvania

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529 Broad St
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