1509 Easton Avenue, Bethlehem City, PA 18017
sale
$599,000
|
Office
Courtesy Of Howard Hanna The Frederick Group
Excellent investment opportunity in Bethlehem. This fully occupied, 2,956 SF freestanding commercial property offers immediate income with an established tenant, The Lesson Center, occupying the entire building. The Lesson Center, a longtime Lehigh Valley music education provider, is now part of Ensemble Performing Arts, a national company that owns and operates more than 120 music and dance schools nationwide. This affiliation combines an established local presence with the operational resources and support of a growing national organization. The current lease extends through September 2029 and includes two additional five-year renewal options, offering the potential for long-term occupancy. Contractual annual rent increases provide built-in income growth, while the modified triple-net (NNN) lease provides for tenant reimbursement of key property operating expenses, with additional expenses paid directly by the tenant. Recent capital improvements include a new roof in 2024 and replacement of both gas-fired heating units in 2022. Currently configured as a music school with reception/waiting areas and multiple private lesson studios, the building retains its original two-unit configuration with separate electrical metering and 200-amp service to each unit, offering potential future leasing flexibility. Convenient Easton Avenue frontage, excellent accessibility and on-site and nearby parking options further enhance this investment opportunity. This property represents an ideal addition to a commercial investment portfolio, offering established occupancy, contractual rent growth, and substantial recent capital improvements.
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Property Features
- Age: Over 50 Years Old
- Amenities: Security System
- Building Units: 2
- Cooling System: Zoned
- Cooling System: Central Air
- Exterior Type: WoodSiding
- Exterior Type: Masonry
- Floor Covering: Vinyl
- Floor Covering: Wood
- Heating System: Electric (Heating)
- Heating System: Natural Gas
- MLSID: 786049
- Parking Spaces: 5
- Roof Type: Flat
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