Naomi Brown, CCIM was pleased to represent the sale of 9097 Allentown Blvd in Grantville, Pennsylvania.
Background
9097 Allentown Blvd is an 18-unit mid-term rental property situated along Route 22 in Grantville. The property consists of studio-style units, all leased on a rolling monthly basis with utilities included, and offered steady in-place income with additional upside.
The seller, Travis, was a business owner who had originally purchased the property for its tax benefits and ongoing income. Over time, he had made improvements to the property, bringing it into turnkey condition for the next owner.
As his investment strategy evolved, Travis was ready to sell and transition into a more passive structure through a 1031 exchange.
Listing Period
The seller was referred to Capstone Commercial by a friend who owned a similar apartment building. Travis was looking for a team that understood investment sales and could help them secure a strong price.
One of the main challenges during the process was buyer perception around the shorter-term leases. Some buyers were hesitant about the month-to-month structure and how it would impact stability.
Naomi took the time to walk through the business model with prospective buyers, explaining how the full-service apartment setup created consistent demand. The one-level layout, included utilities, and proximity to Hershey and major employers helped reinforce the property’s ongoing rental strength.
Naomi and team also highlighted the additional land and potential for future expansion, which added another layer of value for investors looking beyond the current income.
Sale
The buyer was a young, growing investor who had been active in real estate full-time and was continuing to build his portfolio.
After going under contract, the buyer requested an additional 30 days to complete other transactions he was working through. The seller remained patient, and both parties worked together to keep the deal moving forward toward closing.
Throughout the process, clear communication and a shared understanding of the long-term value helped maintain momentum on both sides.
Result
The property successfully closed at a price that was 77% higher than what Travis had originally paid just three and a half years prior.
The seller was able to complete their 1031 exchange into a single-tenant net lease industrial property, achieving his goal of a more passive investment structure. The buyer acquired a stabilized, cash-flowing asset with room to grow.
The transaction came together smoothly, with both sides aligned and satisfied with the outcome.
Naomi was able to secure us a strong buyer and a price we were very happy with. It was a fairly easy transaction and we found Naomi very knowledgeable.
Travis, 9097 Allentown Blvd Seller
