Office Medical Building with
625-627 Spring Street Reading, PA 19610
625-627 Spring Street, Reading, PA, 19610
$3,990,000
For Sale
$3,990,000
Multi-tenant office/medical space with attached warehouse on 3.14 acres, with both tenants extending leases.
Property Size22,060 SF
Lot Size3.14 Acres
Price / SF$180.87
Days on Market942
Property Features for 625-627 Spring Street
General Information
- Standard status
- Active
- Size
- 22,060 SF
- Lot size
- 3.14 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1975
Listing agency
RE/MAX Of Reading
(610) 670-2770
Listed by
Kent E Wrobel · License #AB067831
Source
Deepcreeklake
Added: Dec 23, 2023 Updated: Jul 22 at 2:58AM Checked: Jul 22 at 2:58AM
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.
This offering presents an investment property featuring 22,060 square feet of office/medical space with an attached 4,800 square foot warehouse, situated on 3.14 acres in the Borough of Wyomissing, Pennsylvania. The building is currently occupied by two tenants, KPS and FMC, which have been in place since August of 1996.
According to the current owner, both tenants have recently extended their leases, reflecting continued commitment to the building and the area. The property includes an office/medical component along with the attached warehouse space, creating a combined layout for tenants with office and storage/handling needs.
The current owner is seeking a sale structured as a leaseback, aligning with an investment approach while maintaining the existing tenant occupancy.
According to the current owner, both tenants have recently extended their leases, reflecting continued commitment to the building and the area. The property includes an office/medical component along with the attached warehouse space, creating a combined layout for tenants with office and storage/handling needs.
The current owner is seeking a sale structured as a leaseback, aligning with an investment approach while maintaining the existing tenant occupancy.
Key Highlights
- 22,060 SF office/medical space plus an attached 4,800 SF warehouse on 3.14 acres in Wyomissing, PA
- Multi‑tenant setup with KPS and Fresenius Medical Care (FMC) tenants
- Both tenants have occupied their suites since August 1996
Local Financial Insights For Office B
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 | $285.9k | $12.96 |
| − Vacancy | −$39.5k | −$1.79 |
| EGI | $246.4k | $11.17 |
| − OpEx | −$61.6k | −$2.79 |
| NOI | $184.8k | $8.38 |
22,060 SF · lease $12.96/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,833 @ 7.0% cap · market cap 4.63%
Second Best
Healthcare Medical
$2.62M
$2.30M – $3.06M
NOI $183,650 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$3.62M
$3.17M – $4.22M
NOI $253,496 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Big John's — 1316 Schuylkill Ave, Reading, PA 19601
- Moe's Southwest Grill — 1070 Berkshire Blvd, Wyomissing, PA 19610
- Gourmand Cafe — 945 Berkshire Blvd, Wyomissing, PA 19610
- Sweet Ride Ice Cream — 542 Penn Ave, West Reading, PA 19611
FAQs
What type of property is this?
Flex space - Multi-tenant office/medical space with attached warehouse on 3.14 acres, with both tenants extending leases.
Where is this flex space located?
The property is located at 625-627 Spring Street Reading, PA.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: 22,060 SF office/medical space plus an attached 4,800 SF warehouse on 3.14 acres in Wyomissing, PA; Multi‑tenant setup with KPS and Fresenius Medical Care (FMC) tenants; Both tenants have occupied their suites since August 1996
