Current Use by Public Records
- Office Spaces
Property Details for 1020 James Dr
- Year built
- 2000
- Property type
- Office Spaces
Description
This exceptional investment opportunity presents a fully occupied, two-building, Class A office complex in Leesport, PA. The 14,300 square foot property, built in 2000 and renovated in 2020, features four tenants across two single-story buildings on a 2 square foot lot. Currently operating at 100% occupancy with a stabilized investment profile, the property boasts a strong NOI of $143,500 and a 7.65% cap rate, with an asking price of $1,875,000 ($131.12/sq ft). All tenants are on gross leases and have recently renewed their leases for an additional three years. The property benefits from its strategic location, just two miles west of the Reading Airport and five miles from Reading Hospital, offering excellent visibility and accessibility off Route 222. Significant value-add potential exists through market rent adjustments, given that current rental rates have remained stagnant for 5-10 years. This presents a rare opportunity to acquire a generational asset in a thriving market with minimal management burden. The property's strong operational history, coupled with the robust demand for office space in the Reading area, makes this an ideal investment for those seeking a stable, high-return asset with immediate upside potential. The property is professionally managed.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Leesport
- County
- Berks
- State
- Pennsylvania
- Longitude
- -75.9976
- Latitude
- 40.3914
