80-Unit Multifamily Development Site
Land | 7.313 acres | 80-Unit Multifamily Development Site
Marketing description
Scope Commercial Real Estate is pleased to present a premier multifamily development opportunity located at 146–154 Nazareth Pike, Bethlehem Township, Pennsylvania. The offering consists of three contiguous parcels totaling approximately 7.313 acres, strategically positioned along Nazareth Pike (PA Route 191) within the thriving Lehigh Valley market. The site is currently improved with a 3,071 SF building and paved areas, providing existing utility connections and established access points that may streamline redevelopment planning.
The property benefits from strong traffic visibility along Nazareth Pike (±15,000 VPD) and proximity to U.S. Route 22 (±90,000 VPD), offering convenient regional connectivity. The surrounding trade area is anchored by national retailers including Walmart, Giant, Home Depot, and TJ Maxx, while also providing access to major employment hubs throughout Bethlehem, Allentown, and Easton.
Demographic fundamentals strongly support multifamily demand, with approximately 126,155 residents within 5 miles and nearly 466,480 residents within 10 miles. The area’s healthy household incomes, growing population base, and proximity to regional transportation corridors position this site as an ideal location for new residential development. This offering represents a rare opportunity to develop a thoughtfully designed 80-unit multifamily community within one of Pennsylvania’s fastest-growing metro regions, benefiting from strong market fundamentals, accessibility, and long-term rental demand drivers.
Investment highlights
- Prime Bethlehem Township Location: Situated along Nazareth Pike (PA Route 191) within the high-growth Lehigh Valley, Pennsylvania’s third-largest metro region.
- Strong Regional Demographics: Approximately 126,155 residents within 5 miles and 466,480 within 10 miles, supporting long-term rental demand.
- High-Income Trade Area: Average household income of $122,644 within 5 miles and $143,420 within 2 miles, providing strong rent support fundamental.
- Excellent Regional Connectivity: Immediate access to Nazareth Pike, U.S. Route 22 (±90,000 VPD), Interstate 78, and PA Route 33, allowing seamless commuting to Bethlehem, Allentown, Easton, and the greater Lehigh Valley.
- Retail & Employment Drivers Nearby: Surrounded by major national retailers and employment anchors, enhancing residential desirability and walk/drive-to convenience
- Favorable Suburban Rental Dynamics: Located in a supply-constrained suburban corridor with strong home values (Avg. $347,143 within 5 miles), supporting continued renter demand
- Scale & Layout Flexibility: ±7.313-acre configuration allows for garden-style, townhome-style, or hybrid multifamily product with surface parking and amenity integration
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