Multi-Building Industrial
448 N 3RD STREET Reading, PA 19601
448 N 3RD STREET, Reading, PA, 19601
$5,000,000
For Sale
$5,000,000
Two warehouse buildings sit on a fenced lot with parking across N. 3rd St, plus a separately rebuilt building.
Property Size58,291 SF
Lot Size1.25 Acres
Price / SF$85.78
Days on Market16
Property Features for 448 N 3RD STREET
General Information
- Standard status
- Active
- Size
- 58,291 SF
- Lot size
- 1.25 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1920
Listing agency
RE/MAX Of Reading
(610) 670-2770
Listed by
Cynthia Oswald · License #RS296500
Source
Kingswayrealty
Added: Jul 6 Updated: Jul 20 at 7:23PM Checked: Jul 21 at 3:06AM
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 RE/MAX Of Reading
Investment Insights
Based on property information with market context.
The property for sale includes two warehouse buildings and an additional separate building, all tied together by a 1.25-acre fenced lot with parking across N. 3rd St. The main building is split into two sections: a “new warehouse” measuring approximately 19,000+/- square feet with 20-foot ceiling heights, and an older four-story section with approximately 33,000 square feet. There is also a separate 6,291 square foot building that was rebuilt in 2025.
The main building and the separate building are leased, with the remarks indicating the property is currently cash-flowing. The separate building is described as having a long-term, credit tenant at favorable rental rates. The remarks also note that more than $1 million in capital expenditures has been invested over the last several years.
The cell tower is subject to an easement and is not part of the transaction. The sale includes four tax lots: 448 N 3rd = 06-5307-66-63-6005, 430 N 3rd = 06-5307-66-62-5955, 507 N 3rd = 06-5307-66-63-8016 and 451 N 3rd = 06-5307-66-63-8002.
The main building and the separate building are leased, with the remarks indicating the property is currently cash-flowing. The separate building is described as having a long-term, credit tenant at favorable rental rates. The remarks also note that more than $1 million in capital expenditures has been invested over the last several years.
The cell tower is subject to an easement and is not part of the transaction. The sale includes four tax lots: 448 N 3rd = 06-5307-66-63-6005, 430 N 3rd = 06-5307-66-62-5955, 507 N 3rd = 06-5307-66-63-8016 and 451 N 3rd = 06-5307-66-63-8002.
Key Highlights
- Two warehouse buildings on a 1.25‑acre fenced lot with parking across N. 3rd St
- 19,000 +/- SF “new warehouse” with 20‑foot ceiling heights
- Four‑story section with almost 33,000 SF, mostly leased and noted as convertible to loft‑style residential under new zoning
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $514.7k | $8.83 |
| − Vacancy | −$28.8k | −$0.49 |
| EGI | $485.9k | $8.34 |
| − OpEx | −$72.9k | −$1.25 |
| NOI | $413.0k | $7.09 |
58,291 SF · lease $8.83/SF/yr · vacancy 5.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$5.90M
$5.16M – $6.88M
NOI $413,003 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.57M
$8.37M – $11.16M
NOI $669,834 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Warehouses
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FAQs
What type of property is this?
Warehouse - Two warehouse buildings sit on a fenced lot with parking across N. 3rd St, plus a separately rebuilt building.
Where is this warehouse located?
The property is located at 448 N 3RD STREET Reading, PA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Two warehouse buildings on a 1.25‑acre fenced lot with parking across N. 3rd St; 19,000 +/- SF “new warehouse” with 20‑foot ceiling heights; Four‑story section with almost 33,000 SF, mostly leased and noted as convertible to loft‑style residential under new zoning
