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    1665 State Hill Rd Reading, PA 19610

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    1665 State Hill Rd Reading, PA 19610

    View on Map
    • Retail properties & Spaces
    • 141,726 SF
    • 58.75 lot acres
    For Lease
    $5,055,000
    View Listing →
    Reading Retail Space Available For Lease
    $5,055,000
    175,004 SF

    Reading Retail Space Available

    Retail spaces available, ranging from 509 to 175,004 SqFt.

    1665 State Hill Rd, Reading, PA 19610
    View Listing
    Property ID
    US73-4897073
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 1665 State Hill Rd

    Year built
    1970
    Lot size
    58.75 lot acres
    Property size
    141,726 SF
    Property type
    Retail properties & Spaces
    APN
    4397-19-52-9232
    APU
    439719529232

    Description

    Berkshire Mall, located at 1665 State Hill Rd, Reading, PA 19610, offers exceptional retail opportunities in Berks County. This established shopping mall boasts a total of 797,205 square feet, with a significant 382,159 square feet currently available for lease. The property is categorized as a multi-tenant retail space, ideal for a variety of businesses. Spaces range from a minimum of 509 square feet to a maximum contiguous space of 175,004 square feet, providing flexibility for businesses of all sizes. The mall's strategic location in Wyomissing, Pennsylvania, ensures high visibility and accessibility for customers. This presents a unique chance to establish or expand your retail presence within a well-established and thriving shopping center. With approximately 30 spaces available, there are numerous options to suit diverse business needs. The property's substantial size and flexible space options make it an attractive investment for businesses seeking a prominent location in a busy retail environment. This is a prime opportunity to secure a space within a well-known Berks County landmark. Contact us today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,264,000
      Market price range: $2.70M - $10.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $8,325,000
      Current use
      INDUSTRIAL (GENERAL)
      $7,160,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wyomissing
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9701
    Latitude
    40.3409
    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
    $107,211
    $3,950,900
    $3,849,100
    $7,800,000
    -
    $3,950,900
    $3,849,100
    $7,800,000

    Comparable in this City

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      2700 Papermill Rd

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      935 Berkshire Pl

      Office properties & Spaces • 15,000 SF
      935 Berkshire Pl, Wyomissing, PA 19610
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      742 Woodland Rd

      Retail properties & Spaces • 97,338 SF
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      Penn Ave

      Restaurants • 2,950 SF
      0 Penn Ave, Wyomissing, PA 19610
      View Details
    • Value Estimation
      $1,120,000
      25,086 SF

      1075 Woodland Rd

      DEPARTMENT STORE • 25,086 SF
      1075 Woodland Rd, Reading, PA 19610-1203
      View Details

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      Single tenant property leased to Aldi with 12.5+ years remaining.
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      Retail space available for lease in a central location.
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      Wyomissing Retail Space Available

      Retail spaces available in Reading's premier shopping center.
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      Retail property with convenient access and great visibility available for rent.
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      Retail Space in Wyomissing Center

      Retail space available in Reading’s premier shopping center.
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      Retail Space For Lease

      Retail space available for lease in Wyomissing, Pennsylvania.
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      Retail Space Available For Lease

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      141,726 SF

      Premier Retail Shopping Mall Space

      High-traffic retail space in a dynamic shopping mall environment.
      1665 State Hill Rd, Wyomissing, PA 19610
      View Details
    View Listing
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    1665 State Hill Rd
    Reading, PA 19610
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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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