Judy Wilkinson - Coldwell Banker Hearthside
949 Hamilton St
Allentown City, PA 18101

$4,500,000

Description

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.

Details

MLS#568646
StyleIndustrial
Sub-TypeResale
StatusActive
Year1922
Days On Site321

Features

Story(s)0
ZoningB-2-Central Business

Additional Information

County Taxes3464.55
Municiple Taxes6116.65
School Taxes18108.19
Total Taxes27689.39

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Area Information

StatePA
CountyLehigh
CityAllentown City
Zip Code18101
AreaAllentown-Central
Listing VS Median (in 18101)
Price:
$4,500,000
low | high
Med:
$1,100
100% of Average
On Site:
321
low | high
Med:
182
100% of Average
Listing Updated: 12/10/2018
MLS Number: 568646
Listing Provided By:
James J. Balliet  of  KW Commercial