Mixed-Use Building with
For Sale
$249,900
2212 PERKIOMEN Avenue, Reading, PA 19606
Multi-Family, READING, PA
Property Size1,800 SF
Lot Size0.06 Acres
Price / SF$138.83
Days on Market89
Property Features for 2212 PERKIOMEN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Bathroom - Tub Shower, Cedar Closet(s), Kitchen - Eat-In, Store/Office
Appliances
Dishwasher, Oven/Range - Electric, Refrigerator, WaterHeater
Subdivision
NONE AVAILABLE
Middle school
ANTIETAM MIDDLE SENIOR
High school
ANTIETAM MIDDLE SENIOR
Elementary school district
ANTIETAM
Middle school district
ANTIETAM
High school district
ANTIETAM
Standard status
Active
Size
1,800 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4299
Utilities
Heating system
Hot Water(Heating)
Cooling system
Wall Unit(s)
Amenities
Zen garden retreat
Building Details
Year built
1920
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
Godfrey Properties
(484) 326-5000
Listed By:
Donna M Godfrey · License #RM422969
(267) 688-0536
Added: Jun 2
Changed: Aug 27
Last Checked: Aug 29 at 8:06AM
MLS# PABK2072992
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 1,800 square feet on a 0.06-acre lot, with finished commercial space and a two-bedroom apartment above. The residence includes an eat-in kitchen, full bathroom with tub and shower, one bedroom on the second floor, and another on the third floor. Electric cooking, electric hot water, window air-conditioning units, and an upgraded natural gas heating system are in place. The building also includes a cedar closet, store or office area, and an emergency exit serving the apartment.
Positioned along Route 422 in Reading, the property combines commercial and residential components within the same building. On-street parking is available, and the rear includes a private garden area. The Colonial-style property was built in 1920.
Positioned along Route 422 in Reading, the property combines commercial and residential components within the same building. On-street parking is available, and the rear includes a private garden area. The Colonial-style property was built in 1920.
Key Highlights
- 1,800 square feet on a 0.06‑acre lot
- Finished commercial space with a two‑bedroom apartment above
- Residence includes an eat‑in kitchen and full bathroom with tub/shower combination
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
$17,820
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
7.13%
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%
$356,400
$356.4K
Cap Rate 7%
$254,571
$254.6K
Cap Rate 9%
$198,000
$198.0K
Market Conditions
NOI Build-Up for 1,800 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
$32.4K $18.00/SF
− Vacancy
−$3.9K −$2.16/SF
EGI
$28.5K $15.84/SF
− OpEx
−$10.7K −$5.94/SF
NOI
$17.8K $9.90/SF
Area
Berks County, PA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$356,400
Cap Rate 7%
$254,571
Cap Rate 9%
$198,000
Alternative Uses
Best Use
Mixed Use
$254.6K
$222.8K – $297.0K
NOI $17,820 @ 7.0% cap · market cap 7.13%
Second Best
Multifamily LT 5
$253.5K
$221.8K – $295.8K
NOI $17,745 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$295.5K
$258.6K – $344.7K
NOI $20,684 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 19606, PA
35,153
Population
14,593
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
26.7 sq mi
ZIP Area
1,317
Density / Sq Mi
$81,872
Median Household Income
$45,583
Median Earnings
$1,282
Median Rent
$229,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Finished commercial space occupies the lower level, with a two-bedroom residence above and a rear garden retreat.
Where is this mixed-use property located?
The property is located at 2212 PERKIOMEN Avenue Reading, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,800 square feet on a 0.06‑acre lot; Finished commercial space with a two‑bedroom apartment above; Residence includes an eat‑in kitchen and full bathroom with tub/shower combination
