Manufacturing and Fabrication
For Sale
$4,595,000
450 Gateway Drive, Reading, PA 19601
Modern industrial building includes manufacturing space with smooth sealed concrete and office areas with insulated glass windows.
Property Size34,728 SF
Days on Market123
Property Features for 450 Gateway Drive
General Information
Standard status
Active
Size
34,728 SF
Property subtype
Industrial
Building Details
Building Size
34,728 SF
Year Built
2009
Listed By:
Steve Willems, SIOR
(610) 370-8506
Source:
Naikeystone
Added: Jun 23
Changed: Oct 16
Last Checked: Oct 20 at 5:48PM
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 Steve Willems, SIOR
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Investment Insights
Based on property information with market context.
This modern industrial building is set up for manufacturing and fabricating, with a pre-engineered steel superstructure and vertical anodized steel panel walls that include batt insulation. The industrial portion features a pitched standing seam steel panel roof with batt insulation beneath, and smooth sealed concrete floors. Lighting is provided through a mix of LED and T-8 fixtures.
Office areas include a split-face block exterior with DRVIT (synthetic stucco) accents and aluminum framed insulated glass windows that wrap around the office. The office roof system is flat and was covered in 2016 with a rubber membrane. The industrial section is heated by a gas-fired air-rotation unit, and two roof-mounted split systems provide heat and A/C for the offices.
The property is 34,728 SF on 3.12 acres and is described as expandable, supporting potential future growth for manufacturing operations.
Office areas include a split-face block exterior with DRVIT (synthetic stucco) accents and aluminum framed insulated glass windows that wrap around the office. The office roof system is flat and was covered in 2016 with a rubber membrane. The industrial section is heated by a gas-fired air-rotation unit, and two roof-mounted split systems provide heat and A/C for the offices.
The property is 34,728 SF on 3.12 acres and is described as expandable, supporting potential future growth for manufacturing operations.
Key Highlights
- 34,728 SF modern industrial building on 3.12 acres, set up for manufacturing and fabricating
- Pre‑engineered steel superstructure with vertical anodized steel panel walls and batt insulation
- Industrial roof is pitched with standing seam steel panels and batt insulation underneath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,633
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,052,660
$4.1M
Cap Rate 7%
$2,894,757
$2.9M
Cap Rate 9%
$2,251,478
$2.3M
Market Conditions
NOI Build-Up for 34,728 SF
Gross rent
$306.6K $8.83/SF
− Vacancy
−$17.2K −$0.49/SF
EGI
$289.5K $8.34/SF
− OpEx
−$86.8K −$2.50/SF
NOI
$202.6K $5.83/SF
Area
Berks County, PA
Vacancy
5.60%
Lease Rate
$8.83 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,052,660
Cap Rate 7%
$2,894,757
Cap Rate 9%
$2,251,478
Alternative Uses
Best Use
Industrial
$2.89M
$2.53M – $3.38M
NOI $202,633 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.70M
$4.99M – $6.65M
NOI $399,066 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Modern industrial building includes manufacturing space with smooth sealed concrete and office areas with insulated glass windows.
Where is this manufacturing property located?
The property is located at 450 Gateway Drive Reading, PA.
What is the asking price?
The asking price for this property is $4,595,000.
What are key features of this property?
This property features: 34,728 SF modern industrial building on 3.12 acres, set up for manufacturing and fabricating; Pre‑engineered steel superstructure with vertical anodized steel panel walls and batt insulation; Industrial roof is pitched with standing seam steel panels and batt insulation underneath
