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    1011 Park Rd Wyomissing, PA 19610-9000
    Property profile & analytics

    1011 Park Rd Wyomissing, PA 19610-9000

    View on Map
    • Office buildings
    • 15,744 SF
    • 2.20 lot acres
    Off-Market
    Last Sale Jul 8, 2021
    $2,160,000
    Property ID
    US73-0094235
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,200,000
    Show details
    Cap Rate Potential
    6.3%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1011 Park Rd

    Year built
    1961
    Lot size
    2.20 lot acres
    Property size
    15,744 SF
    Property type
    Office buildings
    APN
    4397-16-94-0876
    APU
    439716940876

    Description

    This exceptional 17,725-square-foot office and flex space facility, situated at 1011 N. Park Road in Wyomissing, Pennsylvania, presents a unique opportunity for businesses seeking a prominent location. Built in 1961 and extensively renovated in 2048, this single-story building boasts high-end interior finishes and updated infrastructure, offering a potential "plug-and-play" solution for a company seeking new headquarters. The property sits on a 2.2-acre lot and features 5,590 square feet of currently vacant space, ideal for immediate occupancy. The building includes 65 total parking spaces, catering to employee and client needs. Its strategic location within the commercial core of Berks County provides superb access to major roadways, ensuring convenient commutes and efficient logistics. The C-2 Retail Commercial zoning allows for a variety of uses, making this property highly versatile. The property's APN is 96-4397-16-94-0876. This is a single-tenant building, offering a unique opportunity for a company to establish a strong presence in a thriving Berks County market. Both lease and sale opportunities are available. This trophy asset offers a blend of modern amenities and a prime location, making it an attractive investment or lease opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,230,000
      ML approach
      $2,290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,345,000
      6.5%
      $2,165,000
      7%
      $2,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,615,000
      Market price range: $2.03M - $3.85M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,630,000
      Current use
      MEDICAL BUILDING
      $2,530,000
      Change: -4% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wyomissing
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.959
    Latitude
    40.3486
    CBSA code
    39740
    CBSA name
    READING, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $15,438
    $411,400
    $711,800
    $1,123,200
    -
    $411,400
    $711,800
    $1,123,200

    Comparable in this City

    • Value Estimation
      $24,180,000
      295,236 SF

      1 Meridian Blvd

      OFFICE BUILDING • 295,236 SF
      1 Meridian Blvd, Wyomissing, PA 19610-3225
      View Details
    • Value Estimation
      $815,000
      5,845 SF

      10 Commerce Dr

      OFFICE BUILDING • 5,845 SF
      10 Commerce Dr, Wyomissing, PA 19610-3352
      View Details
    • Value Estimation
      $2,060,000
      17,864 SF

      1075 Berkshire Blvd Ste, Unit 800

      OFFICE BUILDING • 17,864 SF
      1075 Berkshire Blvd Ste, Wyomissing, PA 19610-1264
      View Details
    • Value Estimation
      $970,000
      10,200 SF

      1280 Broadcasting Rd

      OFFICE BUILDING • 10,200 SF
      1280 Broadcasting Rd, Wyomissing, PA 19610-3203
      View Details
    • Value Estimation
      $2,505,000
      22,309 SF

      1350 Broadcasting Rd

      OFFICE BUILDING • 22,309 SF
      1350 Broadcasting Rd, Wyomissing, PA 19610-3229
      View Details
    • Value Estimation
      $1,935,000
      10,696 SF

      60 Commerce Dr

      OFFICE BUILDING • 10,696 SF
      60 Commerce Dr, Wyomissing, PA 19610-3321
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Class A Office Building

      Professional office space with amenities in a convenient location.
      1 Meridian Blvd, Wyomissing, PA 19610
      View Details
    • $11,700,000
      6,363 SF

      Reading Office Building For Sale

      6,363 SF office building available in Reading, Pennsylvania.
      950 N Wyomissing Blvd, Reading, PA 19610
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    • Contact for pricing

      Wyomissing Office/Medical & Warehouse Space

      22,060 SF office/medical space with 4,800 SF warehouse.
      625-627 Spring St, Reading, PA 19610
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    • Contact for pricing
      1,250 SF

      Wyomissing Office Space For Lease

      1,250 SF second floor office space available for lease.
      904 Penn Ave, Wyomissing, PA 19610
      View Details
    • Contact for pricing
      0.62 Acres

      Wyomissing Office Suite - 1680 SF

      Prime Wyomissing location, ample parking, highway access.
      420 Park Rd, Wyomissing, PA 19610
      View Details
    • $3,990,000
      26,860 SF

      Prime Reading Office Investment

      Spacious office/warehouse, strong tenants
      625-627 Spring St, Reading, PA 19610
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      Professional Office Building in Wyomissing

      Multi-tenant office building with move-in ready spaces and highway access.
      4 Park Plz, Wyomissing, PA 19610
      View Details
    • Contact for pricing

      Class A Office Space Available

      Professionally managed office building with highway access and retail amenities.
      2 Meridian Blvd, Wyomissing, PA 19610
      View Details
    • Contact for pricing

      Professional Office Building in Wyomissing

      Multi-tenant office building with move-in ready spaces and on-site parking.
      3 Park Plz, Wyomissing, PA 19610
      View Details
    • Contact for pricing

      Class A Office in Wyomissing

      Located in Corporate Campus at Spring Ridge, easy highway access.
      1200 Broadcasting Rd, Wyomissing, PA 19610
      View Details
    • Contact for pricing

      Professional Office Building in Wyomissing

      Multi-tenant office building with move-in ready spaces and amenities.
      4 Park Plz, Wyomissing, PA 19610
      View Details
    • $8 SF/Yr

      Professional Office Building in Wyomissing

      Move-in ready office spaces with highway access and on-site parking.
      3 Park Plz, Wyomissing, PA 19610
      View Details
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    Wyomissing, PA 19610-9000
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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.

    More about this property
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