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    Proposed Wyomissing Office/Medical/Research Building Title is generated by Realmo AI

    220 N Park Rd., Wyomissing, PA 19610

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    Proposed 60,000 SF office/medical/research building for lease in Wyomissing, PA.

    Type:Office
    Property size:
    60,000 SF
    Lot size:
    10.00 Acres
    Added:
    Apr 1, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 1 at 11:39 am

    Property Features for 220 N Park Rd.

    General Information

    Standard status
    Active
    Size
    60,000 SF
    Lot size
    10.00 Acres
    Property subtype
    Office

    Building Details

    Year Built
    2021

    Spaces For Lease

    at 220 N Park Rd. Contact us

    We can help!

    Listing Contact
    John Buccinno, SIOR CCIM

    Listing agent John Buccinno, SIOR CCIM

    Listing office

    Listing date Apr 1, 2026

    Source Naikeystone

    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 John Buccinno, SIOR CCIM

    HighLights

    • New 60,000 Sq. Ft. Office/Medical/Research building, Phase 1 of multi‑phase project.
    • Located within Park Place Center, a ten‑acre site in Wyomissing, PA.
    • Walking distance to The Knitting Mills, a $100 million mixed‑use redevelopment.
    • Proximity to major tenants like Tower Health Systems, UGI Energy Services, and Teleflex Inc.
    • Close to Drexel University’s College of Medicine and Tower Health medical school (approx 150,000 SF).
    • High population density with strong average household incomes in the surrounding area.

    Overview

    A newly proposed 60,000 square foot office, medical, and research building is available for lease at Park Place Center in Wyomissing, PA. This property represents Phase 1 of a multi-phase project within a ten-acre site. The location is within walking distance of The Knitting Mills, a $100 million mixed-use business and retail campus. The Knitting Mills hosts Tower Health Systems' Admin, IT, and Tech training, occupying 133,000 square feet across two buildings, including the future relocation of C-Suite administrative offices. UGI Energy Services corporate headquarters will occupy 146,324 square feet within the campus, with an expected opening in July 2019. Teleflex Inc’s newest medical, lab, R&D, and manufacturing facility, scheduled for completion in June 2019, will occupy a 53,000 square foot building directly across from Park Place Center. Drexel University’s College of Medicine and Tower Health plan to open an approximately 150,000 square foot medical school in the area. The Knitting Mills also includes a VF Outlet Store, Orthopedic Associates surgery and imaging center, and Sly Fox’s brewery and pub. The surrounding area includes Tower Health’s Main Campus, Wyomissing Square apartments (248 units), the Lofts at Narrow, and a Courtyard by Marriott, along with retail corridors on 8th and 6th avenues in West Reading. The submarket has a dense population with 13,625 people within 1 mile, 137,003 people within 3 miles, and 203,608 people within 5 miles, with average household incomes of approximately $70,000. This location is suitable for regional headquarters.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Wyomissing
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9586118
    Latitude
    40.3395567

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    FAQs

    What type of property is this?
    Office building - Proposed 60,000 SF office/medical/research building for lease in Wyomissing, PA.
    Where is this office building located?
    The property is located at 220 N Park Rd. Wyomissing, PA.
    What are key features of this property?
    This property features: New 60,000 Sq. Ft. Office/Medical/Research building, Phase 1 of multi‑phase project.; Located within Park Place Center, a ten‑acre site in Wyomissing, PA.; Walking distance to The Knitting Mills, a $100 million mixed‑use redevelopment.
    (610) 370-8508
    We can help!
    Listing Contact
    John Buccinno, SIOR CCIM
    Learn More
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    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
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