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    Property profile & analytics

    2308 Lancaster Pike Reading, PA 19607-2372

    • Investment properties
    • 4,616 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1674751
    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.

    Current Use by Public Records

    • My Sister's Hive / Home Decor Store / Department Store
    • Upcycled by Jennifer / Furniture & Home Goods / Home Decor Store
    • Junk To Jazz / Furniture & Home Goods / Home Decor Store

    Property Details for 2308 Lancaster Pike

    Year built
    1925
    Construction
    FRAME
    Lot size
    0.53 lot acres
    Property size
    4,616 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    4395-05-18-5217
    APU
    439505185217

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $760,000
      6.5%
      $705,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $516,000
      Market price range: $198k - $557k
      AI Estimate
      $484,000
      Market price range: $288k - $505k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $405,000
      Current use
      MEDICAL BUILDING
      $765,000
      Change: +88% Conversion: Easy
      OFFICE BUILDING
      $465,000
      Change: +14% Conversion: Easy
      AUTO REPAIR, GARAGE
      $435,000
      Change: +7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9874
    Latitude
    40.3035
    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
    $2,845
    $87,700
    $91,100
    $178,800
    -
    $87,700
    $91,100
    $178,800

    Comparable in this City

    • Value Estimation by Request
      1,344 SF

      1418 Lancaster Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,344 SF
      1418 Lancaster Ave, Reading, PA 19607-1540
      View Details
    • Value Estimation by Request
      1,080 SF

      1533 Liggett Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,080 SF
      1533 Liggett Ave, Reading, PA 19607-1403
      View Details
    • Value Estimation by Request
      1,720 SF

      1439 New Holland Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,720 SF
      1439 New Holland Rd, Reading, PA 19607-2149
      View Details
    • Value Estimation by Request
      3,272 SF

      37 Lancaster Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,272 SF
      37 Lancaster Ave, Shillington, PA 19607-1855
      View Details
    • Value Estimation by Request
      2,919 SF

      1701 Lancaster Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,919 SF
      1701 Lancaster Ave, Reading, PA 19607-1304
      View Details
    • Value Estimation by Request
      5,902 SF

      101 Lancaster Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,902 SF
      101 Lancaster Ave, Shillington, PA 19607-1808
      View Details

    Similar Nearby for Sale

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      1,368 SF

      Lancaster Avenue Mixed-Use Property

      Prime Reading Investment: Dental Office & Apartment
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    • $1,250,000
      15,000 SF

      Shillington Commercial Investment Opportunity

      15-unit commercial building in downtown Shillington, prime for investment.
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    • $975,000
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      13,000 SF Office Building For Sale

      Two-story office building with flexible floor plan and parking.
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    • $625,000
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      Contractor's Warehouse on Morgantown Road

      3,200 SF warehouse with additional land in Berks County.
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      Shillington Commercial Property Investment Opportunity

      Commercial property in downtown Shillington with investment and renovation potential.
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    • $249,777
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      Flying Hills Townhome with Pond View

      Charming townhome in desirable Flying Hills community with scenic views.
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    Similar Nearby for Lease

    • Contact for pricing
      3,777 SF

      Versatile Medical/Professional Office Space

      Surgical dental office space for rent with on-site parking.
      517 E Lancaster Ave, Reading, PA 19607
      View Details
    • $13 SF/Yr
      6,100 SF

      Shillington Mixed-Use Property with Parking

      Mixed-use property with office space, apartments, and parking.
      34 E Lancaster Ave, Reading, PA 19607
      View Details
    • Contact for pricing
      1,000 SF

      Grocery Anchored Shopping Center Space

      Retail space available in Kenhorst Plaza shopping center.
      700 Kenhorst Plz, Reading, PA 19607
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    • $3,500 /Mo
      14,810 SF

      Shillington Office Space Available

      First floor office space in prime Shillington location for lease.
      20 W Lancaster Ave, Reading, PA 19607
      View Details
    • Contact for pricing
      161,424 SF

      Kenhorst Plaza Retail Space

      Grocery-anchored retail center, Berks County.
      1895 New Holland Rd, Reading, PA 19607
      View Details
    • Contact for pricing
      3,777 SF

      Shillington Medical/Professional Office Space

      Versatile office space with parking and high visibility on Lancaster.
      517 East Lancaster Ave, Shillington, PA 19607
      View Details
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    2308 Lancaster Pike
    Reading, PA 19607-2372
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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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