Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2113 Penn Ave Reading, PA 19609

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Residential income property available for rent.

    Lot size:
    0.18 Acres

    Property Features for 2113 Penn Ave

    General Information

    Standard status
    Active
    Lot size
    0.18 Acres

    Building Details

    Year built
    1958

    We can help!

    Listing Contact
    Desiree Torres-Velez
    Source: Exitrealty

    Listing Agency: Better Homes and Gardens Real Estate Phoenixville Listing Agent: Desiree Torres-Velez

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Residential Income Property For Rent

    This residential income property is available for rent. The property is located at 2113 PENN AVENUE, READING, PA 19609.
    Location Intelligence

    Current Use by Public Records

    Elegant Touch Unisex ... Hair Salon Salon Styles Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.990265
    Latitude
    40.327724

    Nearby Similar for Lease

    • $2,000 /Mo
      3,049 SF

      Reading, PA Commercial Office Space

      Spacious office with new carpet, kitchenette, and elevator access.
      501-11 N 5Th St, Reading, PA 19601
      View Details
    • New
      $6,500 /Mo
      50,530 SF

      Versatile Commercial Building with Greenhouse

      8,000 sq ft commercial building with optional 5,000 sq ft greenhouse.
      3801-R Perkiomen Ave, Reading, PA 19606
      View Details
    • $3,500 /Mo
      14,810 SF

      Shillington Office Space Available

      First floor office space in prime Shillington location for lease.
      20 W Lancaster Ave, Reading, PA 19607
      View Details
    • $17 SF/Yr

      Downtown Reading Professional Office Building

      68,000+/- sq ft office building in downtown Reading, PA.
      19 N 6Th St, Reading, PA 19601
      View Details
    • $3,500 /Mo

      Reading Office Space For Lease

      Large open office space in the heart of Reading.
      722 Cherry St, Reading, PA 19602
      View Details
    • $1,795 /Mo
      13,504 SF

      Versatile Commercial Space For Lease

      Prime commercial space suitable for retail or office use.
      105-SUIT #101 Blair Ave, Reading, PA 19601
      View Details
    • Sponsored
      Contact for pricing

      PA, Reading - Lancaster Pike

      Discover many ways to work your way in Highland Pointe
      2395 Lancaster Pike, Reading, PA 19607
      View Details
    • $1,795 /Mo

      Versatile Commercial Space For Lease

      Commercial space suitable for retail or office use.
      105 Blair Ave, Reading, PA 19601
      View Details
    • $1,700 /Mo

      Prime Retail Space Available

      Spacious commercial rental in high-traffic location, ideal for various businesses.
      4 W Lancaster Ave, Reading, PA 19607
      View Details
    • $10 SF/Yr

      Prime Office Space For Lease

      Office space for lease in Spring Ridge Corporate Campus.
      1350 Broadcasting Rd, Reading, PA 19610
      View Details
    • $13 SF/Yr

      Wyomissing Borough Office Space

      Second floor office space for sublease in a prime location.
      2228 State Hill Rd, Reading, PA 19610
      View Details
    • $14 SF/Yr

      West Lawn Commercial Space Available

      Commercial space for lease in a dynamic business environment.
      35 S Dwight St, West Lawn, PA 19609
      View Details

    FAQs

    What type of property is this?
    Residential income property - Residential income property available for rent.
    Where is this residential income property located?
    The property is located at 2113 Penn Ave Reading, PA.
    What are key features of this property?
    This property features: - Residential income property.; - Available for rent.; - Year Built: 1958.
    (610) 933-1919
    Request Owner's contact information
    2113 Penn Ave Reading, PA 19609
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2113 Penn Ave
    Reading, PA 19609
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2113 Penn Ave Reading, PA 19609
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Desiree Torres-Velez
    (610) 933-1919
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!