Two-Unit Office
922 PENN AVENUE, Reading, PA 19610
For Sale
$370,000
The property is fully leased, with two separate units serving professional services uses.
Property Size1,760 SF
Price / SF$210.23
Days on Market51
Property Features for 922 PENN AVENUE
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Office Units
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
RE/MAX Of Reading
Listed By:
Randy L Weidner · License PA RS-196634-L
(610) 670-2770
Source:
Cummingsrealtors
Added: Sep 23
Changed: Nov 10
Last Checked: Nov 12 at 8:27AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,760-square-foot office building was constructed in 1935 and is configured as two units. Both units are currently leased, providing an established multi-tenant arrangement.
The property is in Wyomissing, close to Reading Hospital and areas with retail, restaurants, and other professional services. Its address is 922 Penn Avenue in Reading, Pennsylvania.
The property is in Wyomissing, close to Reading Hospital and areas with retail, restaurants, and other professional services. Its address is 922 Penn Avenue in Reading, Pennsylvania.
Key Highlights
- 1,760‑square‑foot office building
- Two units, both currently leased
- Built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,746
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,920
$294.9K
Cap Rate 7%
$210,657
$210.7K
Cap Rate 9%
$163,844
$163.8K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$22.8K $12.96/SF
− Vacancy
−$3.1K −$1.79/SF
EGI
$19.7K $11.17/SF
− OpEx
−$4.9K −$2.79/SF
NOI
$14.7K $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%
$294,920
Cap Rate 7%
$210,657
Cap Rate 9%
$163,844
Alternative Uses
Best Use
Office B
$210.7K
$184.3K – $245.8K
NOI $14,746 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.9K
$252.8K – $337.1K
NOI $20,225 @ 7.0% cap · market cap 5.47%
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
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Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,263
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Berks County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - The property is fully leased, with two separate units serving professional services uses.
Where is this office building located?
The property is located at 922 PENN AVENUE Reading, PA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 1,760‑square‑foot office building; Two units, both currently leased; Built in 1935
