Office Medical Building with
For Sale
$3,750,000
625-627 Spring St, Reading, PA 19610
Multi-tenant office/medical space with attached warehouse on 3.14 acres, with both tenants extending leases.
Property Size26,860 SF
Lot Size3.14 Acres
Price / SF$139.61
Days on Market683
Property Features for 625-627 Spring St
General Information
Standard status
Active
Size
26,860 SF
Lot size
3.14 Acres
Property subtype
Commercial
Building Details
Year Built
1975
Tenancy
Multi
Listing Agency:
RE/MAX Of Reading
Listed By:
Kent E Wrobel · License #AB067831
(610) 670-2770
Source:
Baltimoreharfordhomesforsale
Added: Dec 7, 2024
Changed: Oct 1
Last Checked: Oct 20 at 9:11PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,050
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,501,000
$4.5M
Cap Rate 7%
$3,215,000
$3.2M
Cap Rate 9%
$2,500,556
$2.5M
Market Conditions
NOI Build-Up for 26,860 SF
Gross rent
$348.1K $12.96/SF
− Vacancy
−$48.0K −$1.79/SF
EGI
$300.1K $11.17/SF
− OpEx
−$75.0K −$2.79/SF
NOI
$225.1K $8.38/SF
Area
Berks County, PA
Vacancy
13.80%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,501,000
Cap Rate 7%
$3,215,000
Cap Rate 9%
$2,500,556
Alternative Uses
Best Use
Office B
$3.21M
$2.81M – $3.75M
NOI $225,050 @ 7.0% cap · market cap 6.00%
Second Best
Healthcare Medical
$3.19M
$2.80M – $3.73M
NOI $223,610 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,654 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 19610, PA
16,024
Population
7,327
Households
2.2
Avg Household Size
46
Median Age
54%
College-Educated
98%
High-School Grad
7.1 sq mi
ZIP Area
2,257
Density / Sq Mi
$91,034
Median Household Income
$52,707
Median Earnings
$1,669
Median Rent
$320,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Sweet Ride Ice Cream — 542 Penn Ave, West Reading, PA 19611
- Moe's Southwest Grill — 1070 Berkshire Blvd, Wyomissing, PA 19610
- Gourmand Cafe — 945 Berkshire Blvd, Wyomissing, PA 19610
- Big John's — 1316 Schuylkill Ave, Reading, PA 19601
Frequently Asked Questions
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 St Reading, PA.
What is the asking price?
The asking price for this property is $3,750,000.
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
