Property tours are available by appointment ONLY. Please contact Amy Hawley at 610-295-6608 or ahawley@MarkwardGroup.com. Investment Highlights ±44,700 SF freestanding commercial building in Allentown, PA Located on a ±5.58 Acre parcel with ±314 surface parking stalls Includes a ±4,000 SF dining area with fenced patio area and fully equipped kitchen Masonry block structure with façade panels/steel frame, clear-span interior, and slab foundation 1800 amps / 480 volts / 3-phase electric system ±16’ ceiling height above dropped tiles Central HVAC To be delivered vacant thirty days after close of escrow Investment Overview Parkway Lanes is currently being operated as a bowling center, which will continue to operate for business until close of escrow. It is a freestanding commercial building totaling ±44,700 SF located in Allentown, PA. Parkway Lanes is an owner-occupied bowling alley built in 1992, located on a ±5.58 Acre parcel, with ±314 surface parking stalls. The Property contains a ±4,000 SF dining area with fenced patio and fully equipped kitchen, central HVAC, and a ±16’ ceiling height above dropped tiles. The building will be delivered vacant thirty days after close of escrow, providing a significant value-add opportunity through lease up, redevelopment, or adaptive reuse. With B4 Zoning, the Property or parcel can accommodate various usages including: automotive sales/rental, exercise/health club, day care, office, general retail use, trade school, education R&D, and general warehousing. The Property is located within Allentown, PA, the largest of three adjacent cities in the Lehigh Valley region. It is situated just off of two major highways, Interstates 476 and 78, and is ±50 miles north-northwest of Philadelphia, ±90 miles east-northeast of Harrisburg, the state capital, and ±90 miles west of New York City. The Norfolk Southern Railway's Lehigh Line runs through Allentown heading east across the Delaware River and the Reading Line runs through Allentown heading west to Reading, Pennsylvania. The Lehigh Street / I-78 Exit is within ±1 of the Parkway Lanes. Allentown is located within Lehigh County, Pennsylvania and, as of the 2010 Census, is currently the fastest growing city in the state. The 2016 total population within a five-mile radius was ±222,212 with the average age being ±38 years. Allentown was cited as a *national success story* in April 2016 by the Urban Land Institute for its downtown redevelopment and transformation, one of only six communities in the country to have been named as such. Parkway Lanes offers significant potential, whether it be for value-add focused investors, local business looking for a unique adaptive reuse building, or developers taking advantage of the myriad of uses allowed by local zoning laws.
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