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Property profile & analytics
OFF-MARKET Estimated value $10,040,000
Hospitals

2802 Papermill Rd Reading, PA 19610-1065

186,689 SF 23.26 ac lot Built 2009
Entity Owned 6-yr Hold Free & Clear
Property ID
US73-3923854
Property summary
AI-generated overview

This exceptional 5.6-acre commercial land parcel in Reading, Pennsylvania, presents a remarkable development opportunity. Ideally situated in Berks County, at 2802 Paper Mill Road, this newly subdivided lot boasts a prime location with easy access to Routes 222 and 422, placing it within close proximity to a thriving mix of retail, office, residential, and hospitality establishments. The property is directly across from Broadcasting Square, Pennsylvania's fourth most visited shopping center, ensuring high visibility and accessibility. Zoned POB (Planned Office/Business), this site is perfectly suited for a variety of commercial developments, including office buildings, medical facilities, and other professional services. The property features a signalized intersection at Paper Mill Road, enhancing visibility and accessibility. Furthermore, domestic and fire water service, as well as sanitary service, are already stubbed to the site, streamlining the development process. While the existing stormwater basin and easement may require enlargement to accommodate future construction, this presents a manageable aspect of development. The POB zoning allows for a wide range of uses, including but not limited to office buildings, medical clinics, and various professional services, ensuring flexibility for diverse development plans. This is a rare opportunity to acquire a significant commercial land parcel in a high-demand location with excellent infrastructure and zoning.

Property profile
Verified
Property type Hospitals
Use group HOSPITAL - PRIVATE
Year built 2009
Total area 186,689 SF
Lot 23.26 ac (1,013,206 SF)
APN 4397-05-08-3929
UPID US73-3923854
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
Current use
Occupant on record · Public records
  • Lin Melissa a MD Physician
  • Paul Brockman, MD Physician
  • Kelley Crozier, MD Physician
  • Crozier Kelley C MD Physician
  • Kevin Moser Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$8.77M
CAP Approach CAP
by Request
Comparable Approach Comparable
$6.87M
Blend (final) Blend
$10.04M
Owner & transaction history
Threpa004 LLC · 6 yrs held
Threpa004 LLC
since 2020
Last sale
$10.6M
2 recorded transactions
2020
$70.1M
2007
$7.1M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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