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    West Reading Renovated Office Space Title is generated by Realmo AI

    739 Reading Ave, Reading, PA 19611

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    Desirable renovated office space in West Reading available for lease.

    Type:Office
    Property size:
    210,650 SF
    Added:
    Dec 23, 2021
    Days on Market:
    1621
    Last Refresh:
    May 12 at 8:37 pm

    Property Features for 739 Reading Ave

    General Information

    Standard status
    Active
    Size
    210,650 SF
    Property subtype
    Office

    Building Details

    Year Built
    1924

    Spaces For Lease

    at 739 Reading Ave Contact us

    We can help!

    Listing Contact
    Robert Cook

    Listing agent Robert Cook License #PA RS220671L

    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

    HighLights

    • Completely renovated in 2018 with modern, energy‑efficient systems.
    • New, energy‑efficient Solarban 60 windows and clear anodized aluminum frames.
    • New 60 Mil TPO roofing system with a 20‑year warranty.
    • 100% new HVAC system with eight (8) 20,000 CFM Roof Top Units and DDC automation.
    • New NFPA‑13 compliant fire sprinkler system.
    • High power electrical capacity: Two 2500KA transformers with two 3000AMP building services.

    Overview

    Highly desirable office space is available for lease in West Reading within the former Vanity Fair building, specifically Building 202. The building, with a size of 210,650 square feet, underwent renovations in 2018. The exterior core and shell renovations feature new, energy-efficient Solarban 60 windows set in clear anodized aluminum frames. The existing brick façade has undergone extensive repair and repointing. A completely new 60 Mil TPO roofing system with a 20-year warranty has been installed, along with a new lighting protection system. The building features a 15-foot floor-to-floor slab height, accommodating a 10-foot 6-inch finished ceiling height. Column spacing ranges from 18 to 20 feet. A 100% new HVAC system includes eight 20,000 CFM Roof Top Units with electric heat, VAV supply and exhaust fans, building pressurization control, and a DDC automation system. New men’s and women’s gang bathrooms are installed on floors 2, 3, and 4, located centrally to the building. The first-floor retail space has restrooms for customers at the north and south ends of the building. A completely new NFPA-13 compliant fire sprinkler system is in place. Electrical service is provided by two 2500KA pod-mounted transformers serving two 3000AMP building services, with a 480/277V secondary and a backup exterior (1) 100A/3P line circuit breaker.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tower Health at Home Home Health Care Service Marriott Bonvoy Business Business Service Center West Reading SR22 ... Insurance Agency Swank Factory Store Industrial Manufacturer

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9527171
    Latitude
    40.338147

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    FAQs

    What type of property is this?
    Office building - Desirable renovated office space in West Reading available for lease.
    Where is this office building located?
    The property is located at 739 Reading Ave Reading, PA.
    What are key features of this property?
    This property features: Completely renovated in 2018 with modern, energy‑efficient systems.; **New, energy‑efficient Solarban 60 windows and clear anodized aluminum frames.**; New 60 Mil TPO roofing system with a 20‑year warranty.
    (610) 265-7700 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Cook
    Real Estate License ID: PA RS220671L
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    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.

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