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    Property profile & analytics

    2851 Ctr Ave Reading, PA 19605-2567

    • Investment properties
    • 4,800 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2023
    $965,000
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    4.7%
    Investment properties
    Location Intelligence
    Property ID
    US73-5492080
    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

    • We Buy Houses For Cash , Pennsylvania / Real Estate Consultant
    • WeeTalk / Occupational Therapist / Home Health Care Service
    • Youth Advocate Programs / Corporate Office
    • TERESA DAUB, Assist-2-Sell Smart Choice Realty / Real Estate Agent
    • Goosehead Insurance - Brad Coley / Insurance Agency

    Property Details for 2851 Ctr Ave

    Year built
    1990
    Construction
    FRAME
    Lot size
    0.80 lot acres
    Property size
    4,800 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    5308-11-65-0614
    APU
    530811650614

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000
      ML approach
      $1,005,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $790,000
      6.5%
      $730,000
      7%
      $680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $651,000
      Market price range: $296k - $652k

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

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9333
    Latitude
    40.3776
    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
    $7,430
    $76,000
    $453,000
    $529,000
    -
    $76,000
    $453,000
    $529,000

    Comparable in this City

    • Value Estimation
      $290,000
      2,004 SF

      2918 Kutztown Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,004 SF
      2918 Kutztown Rd, Reading, PA 19605-2657
      View Details
    • Value Estimation
      $385,000
      5,526 SF

      221 Orch Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,526 SF
      221 Orch Rd, Reading, PA 19605-9250
      View Details
    • Value Estimation
      $310,000
      4,503 SF

      2619 Leisczs Brg Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 4,503 SF
      2619 Leisczs Brg Rd, Reading, PA 19605
      View Details
    • Value Estimation
      $270,000
      1,424 SF

      115 Jefferson St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,424 SF
      115 Jefferson St, Laureldale, PA 19605-2927
      View Details
    • Value Estimation
      $300,000
      3,454 SF

      3102 Kutztown Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,454 SF
      3102 Kutztown Rd, Reading, PA 19605-3405
      View Details
    • Value Estimation
      $195,000
      1,426 SF

      319 George St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,426 SF
      319 George St, Reading, PA 19605-2406
      View Details

    Similar Nearby for Sale

    • $1,250,000
      10.63 Acres

      10.63 Acres Commercial Land, Reading PA

      Prime Berks County commercial land, excellent access.
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    • $6,900,000
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      Prime Reading Industrial Facility

      105,000 SF Industrial Building, High ROI
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    • $249,900
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      Charming Reading Home with Updates

      Updated 3-bedroom home with finished basement and outdoor patio.
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    • $3,900,000
      106,772 SF

      Redevelopment or Owner-User Opportunity

      106,772 SF facility on 10 acres with office condo.
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    • $175,000
      1.28 Acres

      High-Traffic Leesport Commercial Land

      Prime Route 61 location, 1.28 acres, C-zoned.
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    • $1,650,000
      8 SF

      8 Acres Industrial Land Available

      Partially improved industrial land with highway access and NPDES permits.
      Leisczs Bridge Rd, Reading, PA 19605
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      171,181 SF

      Hiesters Lane Warehouse Trio

      Three industrial spaces available; 9,298 - 96,635 SF
      615 Hiesters Ln, Reading, PA 19605
      View Details
    • Contact for pricing
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      Prime Berks County Industrial Space
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      View Details
    • Contact for pricing
      99,559 SF

      Reading Mall Anchor Space

      Large Retail Space - High Traffic Area
      3050 5Th Street Hwy, Reading, PA 19605
      View Details
    • $6 SF/Yr
      6,670 SF

      Warehouse / Light Manufacturing Space

      6,670 +/- Sq. Ft. warehouse with loading docks.
      1114 Commons Blvd, Reading, PA 19605
      View Details
    • $4 SF/Yr
      4,200 SF

      Reading Warehouse - 4,200 SF

      Spacious Berks County industrial space.
      1501 Frush Valley Rd, Reading, PA 19605
      View Details
    • Contact for pricing
      11,149 SF

      Retail Space in Reading, PA

      Retail space available in a busy shopping center.
      3215 N 5Th Street Hwy, Reading, PA 19605
      View Details
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    2851 Ctr Ave
    Reading, PA 19605-2567
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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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