Medical Office Condominium
For Sale
$349,000
1829 New Holland Rd, Reading, PA 19607
Office condominium suite with reception, multiple exam rooms, two bathrooms, and central HVAC in a professionally served center.
Property Size1,382 SF
Price / SF$252.53
Days on Market47
Property Features for 1829 New Holland Rd
General Information
Standard status
Active
Size
1,382 SF
Building Details
Year Built
1998
Listing Agency:
Coldwell Banker Realty
Listed By:
Pabel Alexis Reyes Polanco
(610) 373-9900
Source:
Kandorre
Added: Jul 21
Changed: Aug 7
Last Checked: Sep 5 at 11:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This office condominium suite totals 1,382 square feet and is configured as two separate units combined into one larger space. The layout includes a reception area with a reception office, a hallway, and a main office. The space also features three exam rooms, with a sink in each exam room, plus two bathrooms and a small kitchen area. Additional storage space is available throughout.
The property is located in Kenhorst Village Professional Center at 1829 New Holland Rd in Reading, PA, and is positioned for convenient access with plenty of parking and public traffic.
Mechanically, the suite has natural gas heat and electric central air conditioning. Water and sewer are included in the monthly condo fee of $433.34. The property is currently used as a urology office and may also be suitable for other professional office use based on its exam-room and office configuration.
The property is located in Kenhorst Village Professional Center at 1829 New Holland Rd in Reading, PA, and is positioned for convenient access with plenty of parking and public traffic.
Mechanically, the suite has natural gas heat and electric central air conditioning. Water and sewer are included in the monthly condo fee of $433.34. The property is currently used as a urology office and may also be suitable for other professional office use based on its exam-room and office configuration.
Key Highlights
- Office condominium suite built in 1998 with 1,382 SF of office space
- Suite includes reception area, reception office, hallway, main office, and multiple exam rooms
- 3 exam rooms plus two bathrooms and a small kitchen area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,579
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$231,580
$231.6K
Cap Rate 7%
$165,414
$165.4K
Cap Rate 9%
$128,656
$128.7K
Market Conditions
NOI Build-Up for 1,382 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.9K $12.96/SF
− Vacancy
−$2.5K −$1.79/SF
EGI
$15.4K $11.17/SF
− OpEx
−$3.9K −$2.79/SF
NOI
$11.6K $8.38/SF
Area
Berks County, PA
Vacancy
13.80%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$231,580
Cap Rate 7%
$165,414
Cap Rate 9%
$128,656
Alternative Uses
Best Use
Office B
$165.4K
$144.7K – $193.0K
NOI $11,579 @ 7.0% cap · market cap 3.32%
Second Best
Healthcare Medical
$164.4K
$143.8K – $191.8K
NOI $11,505 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$226.9K
$198.5K – $264.7K
NOI $15,881 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19607, PA
23,431
Population
10,177
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
11.2 sq mi
ZIP Area
2,092
Density / Sq Mi
$80,550
Median Household Income
$46,953
Median Earnings
$1,283
Median Rent
$210,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Office condominium suite with reception, multiple exam rooms, two bathrooms, and central HVAC in a professionally served center.
Where is this medical office space located?
The property is located at 1829 New Holland Rd Reading, PA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Office condominium suite built in 1998 with 1,382 SF of office space; Suite includes reception area, reception office, hallway, main office, and multiple exam rooms; 3 exam rooms plus two bathrooms and a small kitchen area
