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Property profile & analytics
FOR LEASE
Hotels
2801 Paper Mill Rd, Reading, PA 19610
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US73-2356315
For Lease
$13,395,000
2801 Paper Mill Rd, Reading, PA 19610
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1999
Construction
FRAME
Total area
45,133 SF
Lot
3.26 ac (142,006 SF)
APN
4397-05-09-6640
UPID
US73-2356315
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
$10.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.40M
Owner & transaction history
Buffalo Airport Alameda Lodging LLC · 4 yrs held
Buffalo Airport Alameda Lodging LLC
since 2022
Last sale
$16.9M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$9.5M
+385.3%
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 Reading submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reading 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
$18,630,000
ML approach
$10,410,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,510,000
Change: +385% · Conversion: Difficult
Blend value · Realmo final
$13.40M
Range $12.06M – $14.73M · ±10% · vs last sale $16.87M (Mar 16 2022)
Last sale anchor
$16.87M
Mar 16 2022
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
$297 / 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
$107,784
Tax year 2024
Assessed value
$8,070,700
Assessed 2024
Previous assessed
$8,070,700
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$1,525,600
Assessed improvement
$6,545,100
Land market value
$1,525,600
Improvement market value
$6,545,100
Total market value
$8,070,700
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
Hotels
Use group
HOTEL
Status
For Lease
Year built
1999
Construction
FRAME
Heating
NONE
Buildings
2
Stories
4
Units
118
Total area
45,133 SF
Lot
3.26 ac (142,006 SF)
APN
4397-05-09-6640
UPID
US73-2356315
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
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$9.5M
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
FRAME
Heating
NONE
Stories
4
Buildings
2
Units
118
Lot
3.26 ac
Current owner
From public records · entity-resolved
Buffalo Airport Alameda Lodging LLC
Entity
Mailing address
15 FISHERS RD, PITTSFORD, NY 14534-9544
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2022
$16,866,575
Buffalo Airport Alameda Lodging LLC
High Hotels Ltd
Deed
$17,500,000 · Univest Bank & Trust Co
Oct 10, 2006
—
High Hotels Ltd
—
Trustees Deed
related
$3,500,000 · Sovereign Bank
Jan 10, 2001
$700,000
Texas Roadhouse Holdings LLC
High Hotels Ltd
Grant Deed
related
$1,350,000 · General Elec Cap Busn Fndg
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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