HNL Lab Medicine - Bethlehem, PA | 529 W Broad St
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HNL Lab Medicine - Bethlehem, PA 529 W Broad St
7,841 SF Retail Building Bethlehem, PA 18018 $2,240,000 ($286/SF) 7% Cap Rate
Executive Summary
• The tenant, Lehigh Valley Health Network recently executed its first option period, with another option to extend
• Lehigh Valley Health Network (LVHN) is comprised of nine hospital campuses plus numerous health centers, physician practices, rehabilitation locations, ExpressCARE sites and other outpatient care locations in seven eastern Pennsylvania counties
• The lease includes 4% rental increases every two years throughout the initial term and options to extend, increasing NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises
• Landlord responsibilities limited to maintaining and repairing the roof, structure and exterior of the premises
• Ideal, low-management investment opportunity for a passive investor
• Subject property is strategically located at the hard corner intersection of 5th Avenue and W. Broad Street
• Broad Street is a primary East/West thoroughfare serving Bethlehem and the immediate trade area
• Directly off Fred B. Rooney Hwy/State Hwy 378
• The asset benefits from significant street frontage along W. Broad Street, promoting excellent visibility and ease of access
• This site is approximately 3 miles South of the Lehigh Valley Health Network (LVNH) Muhlenberg campus
• Muhlenberg campus is centrally-located in the Lehigh Valley, providing convenient access to emergency or planned care and equipped with 238 staffed beds
• Lehigh Valley Health Network (LVHN) is comprised of nine hospital campuses plus numerous health centers, physician practices, rehabilitation locations, ExpressCARE sites and other outpatient care locations in seven eastern Pennsylvania counties
• The lease includes 4% rental increases every two years throughout the initial term and options to extend, increasing NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises
• Landlord responsibilities limited to maintaining and repairing the roof, structure and exterior of the premises
• Ideal, low-management investment opportunity for a passive investor
• Subject property is strategically located at the hard corner intersection of 5th Avenue and W. Broad Street
• Broad Street is a primary East/West thoroughfare serving Bethlehem and the immediate trade area
• Directly off Fred B. Rooney Hwy/State Hwy 378
• The asset benefits from significant street frontage along W. Broad Street, promoting excellent visibility and ease of access
• This site is approximately 3 miles South of the Lehigh Valley Health Network (LVNH) Muhlenberg campus
• Muhlenberg campus is centrally-located in the Lehigh Valley, providing convenient access to emergency or planned care and equipped with 238 staffed beds
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,841 SF
Building Class
B
Year Built/Renovated
1915/2014
Price
$2,240,000
Price Per SF
$286
Cap Rate
7%
NOI
$156,820
Tenancy
Single
Building Height
1 Story
Building FAR
0.75
Land Acres
0.24 AC
Zoning
CG - Commercial
Parking
10 Spaces (1.28 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Very Walkable (82)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 642738322572-1 | Improvements Assessment | $558,500 |
| Land Assessment | $80,900 | Total Assessment | $639,400 |
PROPERTY TAXES
Parcel Number
642738322572-1
Land Assessment
$80,900
Improvements Assessment
$558,500
Total Assessment
$639,400
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David Wirth -
SRS Real Estate Partners
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HNL Lab Medicine - Bethlehem, PA | 529 W Broad St
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