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Property profile & analytics
OFF-MARKET
Estimated value
$2,465,000
Retail properties & Spaces
2700 Papermill Rd Wyomissing, PA 19610-3363
Entity Owned
Absentee Owner
Free & Clear
Property ID
US73-4094739
Property summary
AI-generated overview
This exceptional 1-acre property, located at 2700 Paper Mill Rd, Reading, PA 19610, presents a unique investment opportunity. Situated at the intersection of Papermill Road and Meridian Boulevard, this single-tenant medical office building offers excellent visibility and accessibility. The property is currently designated as a Kohl's pad site, ideal for ground lease development. While the building's square footage is currently listed as zero, the substantial 1-acre lot provides ample space for new construction or potential redevelopment tailored to the needs of a medical office tenant. The property's location in Spring Ridge, Reading, PA offers a strong demographic profile and convenient access to major transportation routes. This is a rare chance to acquire a strategically positioned parcel in a thriving area, perfect for a medical practice seeking a prominent location or an investor looking for a high-return ground lease opportunity. The property's zoning and potential uses should be verified independently. The address is officially listed as 2700 Paper Mill Rd, but cross streets are Papermill Road & Meridian Blvd.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2012
Total area
92,658 SF
Lot
10.32 ac (449,539 SF)
APN
4397-05-17-6740
UPID
US73-4094739
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.89M
Blend (final)
Blend
$2.47M
Owner & transaction history
KOHLS DEPARTMENT STORES INC
KOHLS DEPARTMENT STORES INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wyomissing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wyomissing submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.47M
Range $2.22M – $2.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$27 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$48,078
Tax year 2024
Assessed value
$3,600,000
Assessed 2024
Previous assessed
$4,336,400
-17.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$1,980,100
Assessed improvement
$1,619,900
Land market value
$1,980,100
Improvement market value
$1,619,900
Total market value
$3,600,000
Applied tax rate
80.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2012
Heating
NONE
Stories
1
Total area
92,658 SF
Lot
10.32 ac (449,539 SF)
APN
4397-05-17-6740
UPID
US73-4094739
Jurisdiction
BERKS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2012
Heating
NONE
Stories
1
Lot
10.32 ac
Current owner
From public records · entity-resolved
KOHLS DEPARTMENT STORES INC
Entity
Free & Clear · 0 yrs held
Mailing address
56TH RIDGEWOOD DR, MENOMONEE FALLS, WI 53051-5660
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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