Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    50 Innovation Wy Reading, PA 19610

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available within Drexel University College of Medicine.

    Type:Office, Special Purpose
    Added:
    Dec 23, 2021
    Days on Market:
    1574
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 50 Innovation Wy

    General Information

    Standard status
    Active
    Property subtype
    Office, Special Purpose

    Building Details

    Year Built
    2021

    Spaces For Lease

    at 50 Innovation Wy Contact us

    We can help!

    Listing Contact
    Robert Cook

    Listing agent Robert Cook License #PA

    Listing office Jackson Cross Partners

    Listing date Dec 23, 2021

    Source Crexi

    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 Jackson Cross Partners

    Overview

    Office Space at Tower Health

    Drexel University College of Medicine (DUCOM) at Tower Health marks the opening of Drexel University College of Medicine (DUCOM) at Tower Health in 2021. Drexel University and Tower Health have partnered to deliver high-quality medical education. The 5th and 6th floors of DUCOM at Tower Health are available, offering an opportunity to expand or relocate to this location in Berks County. The state-of-the-art building features classrooms, simulation labs and anatomy labs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9753
    Latitude
    40.3377

    Nearby Similar for Lease

    • Contact for pricing

      Renovated Downtown Office Spaces Available

      Varied office spaces in renovated building with on-site parking.
      108 S 5th Street unit: Suite 205, Reading City, PA 19602
      View Details
    • Contact for pricing

      Renovated Downtown Office Spaces Available

      Individual office spaces for rent in renovated downtown building.
      108 S 5th Street unit: Suite 206, Reading City, PA 19602
      View Details
    • Contact for pricing

      Downtown Reading Office Suite

      Well-located office suite in historic downtown Reading building.
      11 N 5TH Street, READING, PA 19601
      View Details
    • Contact for pricing

      Renovated Downtown Office Spaces Available

      Individual office spaces for rent in a renovated multi-tenant building.
      108 S 5th Street unit: Suite 100, Reading City, PA 19602
      View Details
    • Contact for pricing

      Updated Office Space in Reading

      Well-maintained commercial office space in a historic district.
      55 S 6TH Street, READING, PA 19602
      View Details
    • Contact for pricing

      Restaurant Space in READING, PA

      Restaurant space available for lease in Mt Penn, READING.
      232 CARSONIA Avenue, READING, PA 19606
      View Details
    • Contact for pricing

      Versatile Space in Reading City

      Adaptable commercial space available for hourly or event-based rental.
      108 S 5th Street unit: Lower Level, Reading City, PA 19602
      View Details
    • Contact for pricing

      Versatile Commercial Building with Greenhouse

      8,000 sq ft commercial building with optional 5,000 sq ft greenhouse.
      3801-R PERKIOMEN Avenue, READING, PA 19606
      View Details
    • $17/mo

      Downtown Reading Professional Office Building

      68,000+/- sq ft office building in downtown Reading, PA.
      19 N 6TH Street, READING, PA 19601
      View Details
    • Contact for pricing

      Shillington Office Space Available

      First floor office space in prime Shillington location.
      20 W LANCASTER Avenue, READING, PA 19607
      View Details
    • Contact for pricing

      Reading Office Space For Lease

      Large open office space in the heart of Reading.
      722 CHERRY ST, READING, PA 19602
      View Details
    • Sponsored
      Contact for pricing

      PA, Reading - Lancaster Pike

      2395 Lancaster Pike, Unit 1ST, Reading, PA 19607
      View Details

    FAQs

    What type of property is this?
    Office building - Office space available within Drexel University College of Medicine.
    Where is this office building located?
    The property is located at 50 Innovation Wy Reading, PA.
    What are key features of this property?
    This property features: State‑of‑the‑art building featuring classrooms, simulation, and anatomy labs.; Prime Berks County location.; Opportunity to expand or relocate your company.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Cook
    Real Estate License ID: PA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!