For Sale
Contact for pricing
Penn Ave, Wyomissing, PA 19610
Conventional restaurants
Property Size2,950 SF
Price / SF$108.47
Days on Market967
Property Features for Penn Ave
General Information
Standard status
Active
Size
2,950 SF
Class
A
Total Parking Spaces
50
Property subtype
Retail
Zoning
com
Occupancy
100%
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Renovated
2016
Buildings
1
Stories
1
Units
2
Listing Agency:
Springer Realty Group
Listed By:
Peter Gustis · License #PA RS295392
(610) 209-9219
Source:
Crexi
Added: Feb 14, 2024
Changed: Sep 6
Last Checked: Oct 7 at 8:51AM
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 Springer Realty Group
Investment Insights
Based on property information with market context.
Key Highlights
- Established Chinese restaurant with over 30 years of success.
- Proven profitability with a gross annual income exceeding $700,000.
- Includes a liquor license, enhancing revenue potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,355
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$587,100
$587.1K
Cap Rate 7%
$419,357
$419.4K
Cap Rate 9%
$326,167
$326.2K
Market Conditions
NOI Build-Up for 2,950 SF
Gross rent
$41.4K $14.04/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$39.1K $13.27/SF
− OpEx
−$9.8K −$3.32/SF
NOI
$29.4K $9.95/SF
Area
Berks County, PA
Vacancy
5.50%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$587,100
Cap Rate 7%
$419,357
Cap Rate 9%
$326,167
Alternative Uses
Best Use
Specialty Retail
$419.4K
$366.9K – $489.3K
NOI $29,355 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.3K
$423.7K – $565.0K
NOI $33,899 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Under-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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this conventional restaurant located?
The property is located at Penn Ave Wyomissing, PA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Established Chinese restaurant with over 30 years of success.; Proven profitability with a gross annual income exceeding $700,000.; Includes a liquor license, enhancing revenue potential.
