The vacant storefront and property at 14-18 W. Third St. has been listed for lease for more than three years and been vacant for probably a lot longer than that.
But for some smart investor, it could be a gem. It sits across the street from Lehigh Pizza and the Banana Factory along a stretch of street that lies in a heavily traveled area between the Fahy Bridge and the Brodhead Street entrance to the Hill-to-Hill Bridge.
The property is also in the Keystone Innovation Zone, which provides a variety of financial incentives – including direct state subsidies and the ability to sell tax credits – for high-tech entrepreneurial start-up businesses near Lehigh University.
According to the city's Department of Community and Economic Development, within a one mile radius of this property, there are:
- 26,632 residents
- annual consumer spending of $248,618,000
- a total of 1,154 businesses
- 16,838 employees
The 112-year-old building has 6,000 square feet of space. The storefront retail portion has 2,000 square feet of space to lease at $15 a square foot a year.
What goes here, Bethlehem? Tell us in the comments.