Redevelopment Opportunity in Wernersville,
For Sale
$2,800,000
60 E Penn Ave, Wernersville, PA 19565
24,500 SF building suitable for redevelopment along 422 corridor.
Property Size24,500 SF
Price / SF$114.29
Days on Market211
Property Features for 60 E Penn Ave
General Information
Standard status
Active
Size
24,500 SF
Class
C
Property subtype
Retail
Building Details
Building Size
24,500 SF
Year Built
1941
Listing Agency:
NAI Keystone Commercial & Industrial, LLC
Listed By:
Patrick Zerbe · License #PA #RS356626
(610) 370-8507
Source:
Naikeystone
Added: Apr 1
Changed: Oct 25
Last Checked: Oct 28 at 6:37AM
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 NAI Keystone Commercial & Industrial, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 60 E Penn Ave, Wernersville, PA, features a 24,500 square-foot building. It offers a redevelopment opportunity, particularly due to the ongoing development along the 422 corridor. The property's location is strategically positioned to benefit from current development trends in the area. It is suited for a redevelopment project, offering the chance to leverage the property's potential in a rapidly evolving market.
Key Highlights
- Redevelopment Opportunity: The property is primed for a forward‑thinking redevelopment project.
- Strategic Location: Positioned to benefit from ongoing development along the 422 corridor.
- High Square Footage: The building offers a substantial 24,500 SF of space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,417
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,968,340
$5.0M
Cap Rate 7%
$3,548,814
$3.5M
Cap Rate 9%
$2,760,189
$2.8M
Market Conditions
NOI Build-Up for 24,500 SF
Gross rent
$370.4K $15.12/SF
− Vacancy
−$15.6K −$0.64/SF
EGI
$354.9K $14.48/SF
− OpEx
−$106.5K −$4.35/SF
NOI
$248.4K $10.14/SF
Area
Berks County, PA
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,968,340
Cap Rate 7%
$3,548,814
Cap Rate 9%
$2,760,189
Alternative Uses
Best Use
Retail
$3.55M
$3.11M – $4.14M
NOI $248,417 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,534 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
4,624 visits/mo
0.2 miles
Demographics for 19565, PA
8,995
Population
3,696
Households
2.4
Avg Household Size
47
Median Age
32%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
500
Density / Sq Mi
$80,881
Median Household Income
$49,694
Median Earnings
$1,283
Median Rent
$262,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - 24,500 SF building suitable for redevelopment along 422 corridor.
Where is this retail space located?
The property is located at 60 E Penn Ave Wernersville, PA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Redevelopment Opportunity: The property is primed for a forward‑thinking redevelopment project.; Strategic Location: Positioned to benefit from ongoing development along the 422 corridor.; High Square Footage: The building offers a substantial 24,500 SF of space.
