3229 5Th Street Hwy Reading, PA 19605
- Outlet malls
- 52,064 SF
- 6.65 lot acres
Current Use by Public Records
- Outlet malls
Property Details for 3229 5Th Street Hwy
- Year built
- 1960
- Lot size
- 6.65 lot acres
- Property size
- 52,064 SF
- Property type
- Outlet malls
- APN
- 5308-08-88-0014
- APU
- 530808880014
Description
Plaza 222, a prime retail strip center in Reading, Pennsylvania, presents a compelling investment opportunity. This 52,064 square foot property sits on a 6.65-acre lot and enjoys a highly visible location along North 5th Street, a major retail thoroughfare boasting 28,000 vehicles per day. The center's strategic position provides exceptional access to key roadways including Route 422 (81,000 VPD), Route 222 (37,000 VPD), and Route 61 (26,000 VPD), ensuring high visibility and convenient access for customers. Currently, there are five available spaces ranging from 1,300 to 6,000 square feet, catering to a variety of retail needs. In addition, a half-acre pad site is available for lease, offering further expansion potential. The property benefits from its proximity to numerous national retailers, including Target, Giant, Walmart, McDonald's, Five Below, and Michael's, creating a strong retail synergy and attracting significant foot traffic. With 16,300 square feet currently vacant, this presents a unique chance to establish or expand a business within a thriving retail environment. The property's size, location, and existing tenant mix make it an ideal investment for businesses seeking high visibility and strong customer traffic in a well-established retail corridor.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,850,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $7,045,000
- 6.5%
- $7,500,000
- 7%
- $7,320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,300,000
- Geo Method
- $7,740,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $7,515,000
- Retail
- $6,515,000
- Mixed-Use
- $7,095,000
- Hospitality
- $7,970,000
- Educational
- $5,970,000
- Residential Income
- $7,070,000
- Energy
- $6,935,000
- Income-Based Land
- $7,175,000
- Food Service
- $6,925,000
Location Insight
- Map
- Local Demand
- City
- Laureldale
- County
- Berks
- State
- Pennsylvania
- Longitude
- -75.9261
- Latitude
- 40.3842
- CBSA code
- 39740
- CBSA name
- READING, PA METROPOLITAN STATISTICAL AREA